Post by
wheeloffortune on May 20, 2020 11:16am
Macy's reopening more stores. Should be $25 by x-mas.
May 11, 2020: Macy's (NYSE:M) continued its gradual reopening of stores today by opening locations in Colorado and Utah to in-store customers, adding approximately four dozen outlets to the 68 it reopened last week."
"Last week, Macy's openings focused on stores in Georgia, Tennessee, South Carolina, Oklahoma, and Texas."
"All stores are scheduled to resume operations by mid-June."
"Czech billionaire businessman and lawyer Daniel Kretinsky just bought a 5% stake in the company. Kretinsky, an energy and media magnate dubbed "the Czech sphinx," recently purchased a 5.35% interest in the U.K.'s postal service, the Royal Mail.
Kretinsky now owns 15.5 million shares in Macy's, becoming one of its five biggest shareholders according to Bloomberg. Speaking of other acquisitions, he recently remarked, "we simply believe that the current market is undervaluing certain very interesting and important companies."