You are here

Hedge funds urge Macy's to unlock real estate value: sources

Some investors have suggested that Macy's sell its its flagship Herald Square location in New York (above), to raise cash so that it can pay a higher dividend or buy back shares.

New York

SEVERAL hedge funds have asked US department store company Macy's Inc to consider options for its real estate, including selling some major sites and then leasing them back, according to several sources close to the matter.

The push is in line with real estate decisions by