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Activist investor Barington Capital Group is calling on department store retailer Macy's to develop an internal real estate subsidiary, reduce capital expenditures, and explore strategic options ...
The best deal at Macy's this year may be the stores themselves.Shares of Macy's surged over 19% on Monday, after the 165-year-old retail giant received a $5.8 billion buyout offer from real estate ...
While the firms expressed optimism about Macy’s previously announced "Bold New Chapter" initiative to shutter 150 unproductive Macy’s locations by 2026’s year-end, they argued the department ...
Macy's expects asset sale gains to moderate beginning this year as it shifts its attention to reinvigorating sales growth. But it still has lots of latent real estate value that it could tap into ...
Location: Pennsdale, Pennsylvania ... PREIT put Lycoming Mall up for sale in January 2015. [19] Sale and downturn: 2016 – 2022 ... The former Macy's was sold for ...
Macy’s is trimming its locations as department stores and malls alike dwindle. Macy’s has left many malls already. It has closed more than a third of its namesake stores over the last 10 years.
For now, though, the focus seems to be on rightsizing the real estate portfolio at large. On Tuesday, Macy's announced its 2023 earnings, as well as plans to close 150 underperforming locations ...
In August 2016, PREIT sold the Mall for $20 million. It was reported that the occupancy had dropped to 87.4% before the sale and had represented a drop in performance. [12] Macy’s and Gander Mountain closed in 2017. Gander Mountain would be replaced by Rural King in March 2018. The Bon-Ton closed all locations by August 2018. On August 31 ...
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