Macy's Non-Flagship Real Estate Holds Massive Value [Seeking Alpha]
Macy's Inc (M)
Last macy's inc earnings: 2/25 06:55 am
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US:NYSE Investor Relations:
macysinc.com/ir
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Source: Seeking Alpha
SummaryThe COVID-19 pandemic will lead to sizable short-term losses and cash flow pressure at Macy's.This makes the retailer's real estate value even more crucial to any potential investment case for Macy's stock.Analysts at Cowen recently estimated that Macy's real estate may be worth just $5 billion-$8 billion: vastly lower than previous valuations. This would leave no margin of safety for investors.I estimate a significantly higher value of at least $10.3 billion, even with very conservative assumptions about the future of mall retail.With the COVID-19 pandemic having forced the closure of all of its stores,severe short-term working capital headwindsdebt restructuring advisorsMacy's core business is likely to remain under pressure for the foreseeable future. Even if stores can start reopening next month, traffic could remain depressed for quite a while due to continuing coronavirus fears. It's also an open question whether the current crisis will accelerate the shifts in consumer s
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News
- Sunrise Mall in Citrus Heights faces more store closures during the holiday season [CBS News]CBS News
- Macy's (NYSE:M) had its "neutral" rating reaffirmed by analysts at The Goldman Sachs Group, Inc..MarketBeat
- Macy's (NYSE:M) had its "cautious" rating reaffirmed by analysts at Evercore ISI.MarketBeat
- Macy's (NYSE:M) had its price target raised by analysts at Morgan Stanley from $20.00 to $21.00. They now have an "equal weight" rating on the stock.MarketBeat
- Macy's Posts Earnings Beat, but Consumers Are ‘Choiceful' Heading Into Holiday [Yahoo! Finance]Yahoo! Finance
M
Earnings
- 12/3/25 - Beat
M
Sec Filings
- 12/3/25 - Form 8-K/A
- 12/3/25 - Form 8-K
- 11/5/25 - Form SCHEDULE
- M's page on the SEC website