Macy's Multibillion-Dollar Asset: The Herald Square Flagship Store [Seeking Alpha]
Macy's Inc (M)
Last macy's inc earnings: 2/25 06:55 am
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Source: Seeking Alpha
Macy's Multibillion-Dollar Asset: The Herald Square Flagship Store Like many other retailers, Macy's The weakness of Macy's core retail operations along with the plunge in its enterprise value has led many investors to look for value in the company's real estate. Macy's best real estate asset by far is its Manhattan flagship store on Herald Square. Bullish analyses peg the store's value at $3 billion or more: a significant percentage of the retailer's current enterprise value. However, valuing real estate is tricky, especially for unique properties like Macy's Herald Square flagship. Let's take a look at what some other retail real estate activity of the past few years can tell us about the potential value of this key asset. Retailer real estate plays: a mixed track record The idea of looking to a struggling retailer's real estate as a source of value is nothing new. Defunct New York-based department store chain Alexander's most famous example Vornado VNO However, cashing in on a reta
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News
- Macy's, Inc. (NYSE: M) is now covered by analysts at StockNews.com. They set a "hold" rating on the stock.MarketBeat
- Macy's slashes job pledge, ups investment for $640M Rowan County distribution center [Yahoo! Finance]Yahoo! Finance
- Romance scammers turn victims into "money mules," creating a legal minefield for investigators [CBS News]CBS News
- I was happy in the UK and dead against moving to New York. When my partner was made redundant, it felt like our only option. [Business Insider]Business Insider
- Macy's Inc. Taps Abigail James as Chief DEI Officer [Yahoo! Finance]Yahoo! Finance
M
Earnings
- 2/27/24 - Beat
M
Sec Filings
- 4/19/24 - Form 3
- 4/19/24 - Form 3
- 4/19/24 - Form 3
- M's page on the SEC website