Wednesday, May 13, 2020

“Czech sphinx” makes big bet on Macy’s

The Real Deal
Czech billionaire Daniel Kretinsky has acquired a 5-percent stake in Macy’s, with plans to work with management to turn around the struggling retailer as it prepares to reopen its stores.

Kretinsky, who has a net worth of about $3.4 billion and recovered from a coronavirus infection in March, is known as “Czech sphinx” for his inscrutable demeanor. He first built his fortune in the energy business, and his Energetický a průmyslový holding is now one of central Europe’s largest power companies. . . more