Macy’s shareholders are urging the retailer to explore ways to increase shareholder value, including creating a dedicated real estate unit and accelerating share buybacks. Barington Capital Group and Thor Equities, two significant shareholders, have launched a campaign calling for a new approach to restoring profitability.
The campaign highlights the potential for Macy’s to optimize the value of its luxury properties by leveraging a separate real estate arm. This could help the company generate additional revenue streams and improve overall financial performance.
Macy’s stock rose 2.9% on Monday following the announcement, with investors seemingly responding positively to the news. The renewed focus on shareholder value comes as Macy’s faces increased competition in the department store sector.
Source: https://www.marketwatch.com/story/macys-shareholders-clamor-for-retailer-to-squeeze-value-from-its-real-estate-among-other-changes-0beb0b8e