Starboard Prodding Macy's On Real Estate

January 11, 2016 3:26 PM

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Starboard Prodding Macy's On Real Estate

Activist investor Starboard Value is again urging Macy's to find ways to unlock the value of its vast real-estate holdings, including its famous Herald Square store in New York.

In a letter and presentation the investor sent to Macy's management on Sunday, Starboard said it supports the retailer's recently announced plans to cut costs and urged the company to follow through with real-estate deals that could put more cash in its coffers as it struggles with lackluster sales.

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