Shares of retailer Macy's rose 2% Wednesday, following a report by Bloomberg the retailer may build an office tower on top its flagship New York store.
The reports are indication the retailer may be further evaluating ways to make money off its expansive real estate portfolio.
Macy's CEO, Jeff Gennette, earlier this year said the company has been evaluating other uses for some of its flagship locations, its Herald Square store. He said said the company is in the process of holding "preliminary meetings with city officials and community stakeholders" to discuss "complementary uses" at the Herald Square shop.
This is breaking news. Please check back for updates.
from Top News & Analysis https://cnb.cx/2W31BXKvia IFTTT
No comments:
Post a Comment