Tag #Department Stores

What immediate actions is Barington Capital demanding from Macy's, and what are the potential short-term consequences for the company?

Activist investor Barington Capital, partnered with Thor Equities, urged Macy's to cut costs, explore selling luxury brands (Bloomingdale's and Bluemercury), and reassess its real estate portfolio, potentially worth \$5-9 billion. Macy's stock rose 3% premarket on this news. The move follows declining sales and the recent discovery of accounting irregularities hiding \$154 million in delivery expenses.