Macy’s activist investors want the retailer to make significant changes [Video]

Macy’s is facing calls from a pair of activist investors to make a slew of changes at the department store chain. 

The activist investors, Barington Capital Group and Thor Equities, took issue with Macy’s capital allocation strategy in a Monday presentation while simultaneously arguing the department store chain should consider some “structural actions” for its real estate and two more luxurious brands. 

“We seek to be value-added stockholders at Macy’s that can bring fresh perspectives to the Company, especially in the areas of capital allocation, merchandising and retail, and real estate,” Barington’s James Mitarotonda and Thor’s Joseph Sitt said in a press release.

Mitarotonda and Sitt said they “believe that operating improvements at Macy’s, coupled with our recommendations for aggressive share repurchases and structural changes to the business, could lead to a 150% to 200% total return for Macy’s stockholders over the next three years.”

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