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The ‘Wall Street Journal’ and the financial service Bloomberg wrote this on Monday evening, citing informed people. There was no immediate comment from Macy’s. Macy’s is an American retail institution with several hundred department stores. The group is also known beyond the borders of the US as the organizer of the parade with giant balloons in New York during Thanksgiving at the end of November.
However, Macy’s – like other department store operators – is under strong pressure from online retail. In the latest quarter, sales fell seven percent year over year to $4.86 billion. Profits fell 60 percent to $43 million.
According to reports, the interested investors are investment companies Arkhouse Management and Brigade Capital Management. The offer was submitted on December 1 and Macy’s board of directors discussed it, the Wall Street Journal reported. However, it is unclear what the company thinks about this. (SDA)
Source: Blick
I am Amelia James, a passionate journalist with a deep-rooted interest in current affairs. I have more than five years of experience in the media industry, working both as an author and editor for 24 Instant News. My main focus lies in international news, particularly regional conflicts and political issues around the world.
