• Investing
  • Stock
  • Editor’s Pick
  • Economy
The Significant Deals
Stock

Activist investor Barington Capital urges Macy’s to cut spending, WSJ reports

by December 9, 2024
written by December 9, 2024

(Reuters) – Activist investor Barington Capital has built a position in Macy’s (NYSE:M) and is urging the department store chain to cut spending and consider the separation of a real-estate unit within the company, the Wall Street Journal reported on Monday.

The investor was working with property owner Thor Equities to take a stake in Macy’s and were pushing the company to consider options for its Bloomingdale’s and Bluemercury chains, the report said.

The investor group believed Macy’s shares were undervalued and that its real estate was worth between $5 billion to $9 billion, according to the report.

Shares of Macy’s which is set to report its third-quarter results this week, rose 3% in premarket trading. The company had last month delayed its results and disclosed that an employee hid as much as $154 million in expenses over years.

Barington Capital and Macy’s did not immediately respond to Reuters requests for comment.

The activist investor was also asking Macy’s to cut its capital expenditure to between 1.5% and 2% of total sales and repurchase up to $3 billion worth of stock over the next three years, the report said.

This post appeared first on investing.com
0 comment
0
FacebookTwitterPinterestEmail

previous post
Futures steady as investor focus turns to inflation data
next post
Investors ‘too complacent’ heading into 2025, BCA says

You may also like

BASF results down on impairments, restructuring

January 27, 2025

European chipmakers slump as traders gauge DeepSeek AI...

January 27, 2025

Nasdaq futures tumble as China’s AI push rattles...

January 27, 2025

China Vanke’s CEO, chairman resign amid growing liquidity...

January 27, 2025

Fuji Media, rocked by sexual misconduct allegations, says...

January 27, 2025

Italy’s MPS shares fall ahead of Mediobanca board...

January 27, 2025

British Land stock drops following stake sale

January 27, 2025

UMG shares rally after new multi-year pact with...

January 27, 2025

BASF shares indicated 3% lower as impairments drag...

January 27, 2025

Ryanair cuts 2026 traffic forecast amid ongoing Boeing...

January 27, 2025
Fill Out & Get More Relevant News








    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.

    Recent Posts

    • Lawsuit accuses Apple of stealing trade secrets to create Apple Pay

      August 9, 2025
    • Trump demands resignation of Intel CEO over alleged China ties

      August 7, 2025
    • Claire’s, known for piercing millions of teens’ ears, files for Chapter 11

      August 7, 2025
    • Tim Cook to join Trump at White House for Apple investment announcement

      August 7, 2025

    Categories

    • Economy (245)
    • Editor's Pick (3,646)
    • Investing (591)
    • Stock (6,426)

    Latest News

    • Lawsuit accuses Apple of stealing trade secrets to create Apple Pay
    • Trump demands resignation of Intel CEO over alleged China ties

    Popular News

    • Amazon workers go on strike in US ahead of Christmas rush as union seeks contract talks
    • BoE’s Lombardelli worries over above-forecast inflation, backs gradual rate cuts

    About The Significant deals

    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 thesignificantdeals.com | All Rights Reserved

    The Significant Deals
    • Investing
    • Stock
    • Editor’s Pick
    • Economy