Activist investor Barington Capital has assumed a position in Macy’s (M) and plans to push the company to make changes to boost its slumping stock, including the creation of a separate real-estate unit within the company, The Wall Street Journal’s Lauren Thomas reports. Barington plans to disclose its position in a PowerPoint presentation to Macy’s shareholders that was viewed by The Wall Street Journal and is expected to be published on its website later Monday. The exact size of the stake couldn’t be learned. Barington has teamed up with property-owner Thor Equities on its investment, according to the presentation.
Pick the best stocks and maximize your portfolio:
- Discover top-rated stocks from highly ranked analysts with Analyst Top Stocks!
- Easily identify outperforming stocks and invest smarter with Top Smart Score Stocks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on M:
- Data shows Black Friday spending rose 3.4% year-over-year, Reuters reports
- Thanksgiving Online Sales Surge 4% as Retailers Double Down on Discounts
- Macy’s touted metric manipulated by employee, Bloomberg reports
- Unusually active option classes on open November 26th
- Comcast Company NBC (CMCSA) Is on the Verge of a Parade Streaming Deal