Macy’s department store considers $5.8bn investment offer

<img width="250" height="173" src="https://www.leaprate.com/wp-content/uploads/2023/12/FIN-LP-Macys-department-store-considers-5.8bn-investment-offer-5660550226-iStock-636432510-250×173.jpg" class="webfeedsFeaturedVisual wp-post-image" alt="" decoding="async" style="float: left; margin-right: 5px;" link_thumbnail="" srcset="https://www.leaprate.com/wp-content/uploads/2023/12/FIN-LP-Macys-department-store-considers-5.8bn-investment-offer-5660550226-iStock-636432510-250×173.jpg 250w, https://www.leaprate.com/wp-content/uploads/2023/12/FIN-LP-Macys-department-store-considers-5.8bn-investment-offer-5660550226-iStock-636432510-700×484.jpg 700w, https://www.leaprate.com/wp-content/uploads/2023/12/FIN-LP-Macys-department-store-considers-5.8bn-investment-offer-5660550226-iStock-636432510-768×530.jpg 768w, https://www.leaprate.com/wp-content/uploads/2023/12/FIN-LP-Macys-department-store-considers-5.8bn-investment-offer-5660550226-iStock-636432510-120×83.jpg 120w, https://www.leaprate.com/wp-content/uploads/2023/12/FIN-LP-Macys-department-store-considers-5.8bn-investment-offer-5660550226-iStock-636432510-245×169.jpg 245w, https://www.leaprate.com/wp-content/uploads/2023/12/FIN-LP-Macys-department-store-considers-5.8bn-investment-offer-5660550226-iStock-636432510-500×345.jpg 500w, https://www.leaprate.com/wp-content/uploads/2023/12/FIN-LP-Macys-department-store-considers-5.8bn-investment-offer-5660550226-iStock-636432510.jpg 1232w" sizes="(max-width: 250px) 100vw, 250px" /><p>At the close of Friday 8^th December’s market, Macy’s shares were trading at $17.39. The investing group, however, have offered $21 per share, higher than current prices but far lower than 2015 when the store’s shares hit $70.</p>
<p>A spokesperson from Macy’s noted the slowdown of in-store spending, and the rise of online purchases which have contributed to many of the brands larger stores becoming almost obsolete. To counter this, the brand has begun to rollout smaller versions of the store in more varied locations across the US. According to the WSJ report, the company plans to open 30 small-format stores, bringing the total of small-format stores to approximately 90, with the hopes of opening the stores in Q3 of 2025. The spokesperson expressed that these new, small-format stores will work to compliment online purchases and will put digital consumer activities on an equal footing as in-store consumers.</p>
<hr />
<p><a href="https://finaffiliates.us20.list-manage.com/subscribe/post?u=e0dd4d77c259eb270712a4eeb&amp;id=fd200b8f75&amp;v_id=4291&amp;f_id=00946ce6f0" target="_blank" rel="noopener">Don’t miss out the latest news, subscribe to LeapRate’s newsletter</a></p>
<hr />
<p>In 2021, investors from Arkhouse and Columbia Property Trust entered into an unsuccessful bid to purchase Pimco shares for $2.4bn. This fell through when Pimco, an investment management firm, acquired Columbia Property for $3.9bn.</p>
<p>The post <a rel="nofollow" href="https://www.leaprate.com/news/macys-department-store-considers-5-8bn-investment-offer/">Macy&#8217;s department store considers $5.8bn investment offer</a> appeared first on <a rel="nofollow" href="https://www.leaprate.com">LeapRate</a>.</p>