Activist investors urge Macy's to create a real estate unit and explore options for its brands to boost stock value.

Activist investors Barington Capital and Thor Equities are pushing Macy's to form a real estate subsidiary, cut capital spending, and consider options for its Bloomingdale's and Bluemercury chains to boost its stock. They argue Macy's real estate is worth between $5 billion and $9 billion and suggest repurchasing $2 billion to $3 billion in stock over three years, potentially leading to a 150% to 200% return for shareholders. Macy's plans to close 150 stores and upgrade 350, facing competition from online retailers.

3 months ago
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