According to media reports, the traditional US department store group Macy’s has received a takeover offer from financial investors. They had submitted an offer worth around 5.8 billion dollars (5.4 billion euros), wrote the ‘Wall Street Journal’ and the financial service Bloomberg on Monday night, citing informed people. There was no immediate comment from Macy’s.
Macy’s is an American retail institution with several hundred department stores. The group is also known beyond the borders of the USA as the organizer of the parade with giant balloons in New York on the Thanksgiving holiday at the end of November.
However, Macy’s – like other department store operators – is under strong pressure from online retail. In the last quarter, sales fell seven percent year-on-year to $4.86 billion. Profits fell 60 percent to $43 million.
According to reports, the interested investors are the investment firms Arkhouse Management and Brigade Capital Management. The offer was submitted on December 1st and the board of directors of Macy’s discussed it, wrote the Wall Street Journal. However, it is unclear how the company feels about this. (dpa)