Thursday, November 10, 2016

Macy’s Makes Real-Estate Pact With Brookfield; Profit Falls

Image result for macy'sMacy’s Inc. posted another quarter of lower sales at existing stores and struck a deal that could further shrink its retail footprint.

But executives also hinted at improving retail trends, sending shares of the company higher.

Macy’s said it has partnered with real-estate investor Brookfield Asset Management on a deal involving about 50 Macy’s locations. The pact means Brookfield can redevelop the properties, either by adding on to a particular location or redeveloping the entire site.. . . more

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