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Macy's still plans to close a total of about 150 underproductive stores, while investing in its 350 current Macy’s locations, through the company's 2026 fiscal year, which ends Jan. 30, 2027 ...
Last year, Macy’s announced it was closing 150 underperforming stores by 2026, shrinking its footprint to about 350 locations when the plan is finished. The 66 store closings revealed Thursday ...
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 ...
The presentation to Macy's shareholders comes after Barington Capital, which has stakes in such brands as Victoria's Secret, Hanes and Dillard's, has built an undisclosed stake in Macy's.
They believe Macy's should create a separate real estate unit to collect market rents from Macy’s retail operations and pursue other asset sale and redevelopment opportunities. Macy’s shares fell 4% in morning trading, and they have fallen 12% so far this year and closed on Friday at $16.43.
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 ...
Macy's has been under pressure from investor activists seeking an outright sale of the company due to its decadelong underperformance, with Macy's real estate considered its most valuable asset.
The mall was sold to Kohan Retail Investment Group for $26.35 million on March 22, 2016, who owns it under the name Lycoming Mall Realty Holding. [20] [21] [22] Macy's closed in March 2017, and owned its anchor store.