Friday, January 29, 2016

Macy's Lowers Its Q4 And Full Year Guidance

Image result for macy's brooklyn ny storeMacy's Inc. announced on Friday it has completed a previously announced and expected real estate transaction with Tishman Speyer that will enable the re-creation of its Brooklyn store on Fulton Street.

Macy's owns and operates the first four floors and lower level of its nine-story Fulton Street retail store which will undergo a three-year remodeling initiative. Tishman Speyer acquired the remaining portion of the store site and will pay Macy's $270 million in cash, of which the company has allocated $100 million to remodel its store.. . . more

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