Consumer
Macy’s New Activist Wants Retailer to Create Real Estate Arm
- The retailer faced another activist investor earlier this year
- Barington calls for spending cuts, higher-end chain spinoffs
Shoppers outside Macy's flagship store in New York.
Photographer: Jeenah Moon/BloombergThis article is for subscribers only.
Another activist investor group is urging Macy’s Inc. to take drastic steps to boost the stock price of America’s largest department-store chain.
Barington Capital Group and Thor Equities LLC are urging Macy’s to form a separate real estate unit, cut its capital expenditures and consider spinning off its higher-end Bloomingdale’s and Bluemercury chains, according to a presentation that was published on its website.