{"id":200060,"date":"2023-12-12T10:45:00","date_gmt":"2023-12-12T15:45:00","guid":{"rendered":"https:\/\/ibkrcampus.com\/?p=200060"},"modified":"2023-12-12T12:35:18","modified_gmt":"2023-12-12T17:35:18","slug":"macys-might-just-be-getting-a-miracle-on-34th-street","status":"publish","type":"post","link":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/stocks\/macys-might-just-be-getting-a-miracle-on-34th-street\/","title":{"rendered":"Macy&#8217;s Might Just Be Getting A Miracle On 34th Street"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\" id=\"h-what-s-going-on-here\"><strong>What\u2019s going on here?<\/strong><\/h2>\n\n\n\n<p>Shopping mall and Thanksgiving Day parade mainstay&nbsp;<a href=\"https:\/\/www.cnbc.com\/2023\/12\/11\/macys-receives-5point8-billion-buyout-offer-sources-say.html\" target=\"_blank\" rel=\"noreferrer noopener\">Macy\u2019s<\/a>&nbsp;is browsing the details of a $6 billion buyout offer, according to news out Monday.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-what-does-this-mean\"><strong>What does this mean?<\/strong><\/h2>\n\n\n\n<p>With consumers increasingly favoring clicks over bricks, department stores like Macy\u2019s and its more-upscale sister Bloomingdale\u2019s are left with just their perfumed entrances and a waft of nostalgia to entice shoppers through the door. But private investors aren\u2019t known for their sentimentality, so there must be something else that\u2019s pulled Arkhouse Management and Brigade Capital to put an offer on the table. That something might be the fact that Macy\u2019s owns a lot of its bricks and mortar \u2013&nbsp;and those real estate holdings alone are rumored to be worth almost&nbsp;<a href=\"https:\/\/wwd.com\/business-news\/financial\/macys-arkhouse-brigade-5-8b-buyout-department-store-1236030087\/\" target=\"_blank\" rel=\"noreferrer noopener\">$6 billion<\/a>. Arkhouse is a real estate specialist firm, after all, and sees the world in price-per-square-feet.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-why-should-i-care\"><strong>Why should I care?<\/strong><\/h2>\n\n\n\n<p><strong><em>For markets:<\/em><\/strong>&nbsp;<em>Inspect the stitching.<\/em><\/p>\n\n\n\n<p>Bolt the heavy glass doors on retailers and it\u2019s easy to figure out what they\u2019re worth. Add up all the assets \u2013 the New York flagship Herald Square, all the other stores, unsold merchandise, and any cash in the bank. Then subtract what\u2019s owed \u2013&nbsp;debt and unpaid bills. Do that with Macy\u2019s and you get just $4 billion \u2013 considerably less than what\u2019s on offer. So, these private equity bidders clearly see some other opportunity riding Macy\u2019s old wooden escalator: a more profitable retail future or some new kind of magic on 34th Street.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1100\" height=\"683\" data-src=\"\/campus\/wp-content\/uploads\/sites\/2\/2023\/12\/image-1-1100x683.jpg\" alt=\"Market Summary for Macy's Inc\" class=\"wp-image-200062 lazyload\" data-srcset=\"https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2023\/12\/image-1-1100x683.jpg 1100w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2023\/12\/image-1-700x435.jpg 700w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2023\/12\/image-1-300x186.jpg 300w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2023\/12\/image-1-768x477.jpg 768w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2023\/12\/image-1-1536x954.jpg 1536w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2023\/12\/image-1.jpg 1610w\" data-sizes=\"(max-width: 1100px) 100vw, 1100px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1100px; aspect-ratio: 1100\/683;\" \/><\/figure>\n\n\n\n<p><em>Source: Google Finance<\/em><\/p>\n\n\n\n<p><strong><em>The bigger picture:<\/em><\/strong>&nbsp;<em>Shop away the blues.<\/em><\/p>\n\n\n\n<p>Shopping was Carrie Bradshaw\u2019s cardio, and plenty of US consumers seem to be keeping fit that way. Ecommerce accounts for just&nbsp;<a href=\"https:\/\/www.forrester.com\/blogs\/us-retail-and-e-commerce-sales-trends-2023\/#:~:text=After%20consistently%20remaining%20within%20the,second%20only%20to%20Q2%202020.\" target=\"_blank\" rel=\"noreferrer noopener\">15%<\/a>&nbsp;of what they buy. That percentage, though, has been trending upward, suggesting there could be far tougher days ahead for physical stores. Then again, maybe not. With younger generations spending so much time on their phones doomscrolling, maybe there\u2019s a future for good, old-fashioned, in-person retail therapy.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1100\" height=\"683\" data-src=\"\/campus\/wp-content\/uploads\/sites\/2\/2023\/12\/image-1100x683.jpg\" alt=\"Estimated quarterly US retail e-commerce sales as a percent of total quarterly retail sales: 1st quarter 2014 - 3rd quarter 2023\" class=\"wp-image-200063 lazyload\" data-srcset=\"https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2023\/12\/image-1100x683.jpg 1100w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2023\/12\/image-700x435.jpg 700w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2023\/12\/image-300x186.jpg 300w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2023\/12\/image-768x477.jpg 768w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2023\/12\/image-1536x954.jpg 1536w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2023\/12\/image.jpg 1610w\" data-sizes=\"(max-width: 1100px) 100vw, 1100px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1100px; aspect-ratio: 1100\/683;\" \/><\/figure>\n\n\n\n<p><em>Source: US Census Bureau<\/em><\/p>\n\n\n\n<p>&#8212;<\/p>\n\n\n\n<p>Originally Posted December 11, 2023 &#8211;  <a href=\"https:\/\/finimize.com\/content\/macys-might-just-be-getting-a-miracle-on-34th-street\">Macy\u2019s Might Just Be Getting A Miracle On 34th Street<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Shopping mall and Thanksgiving Day parade mainstay Macy\u2019s is browsing the details of a $6 billion buyout offer, according to news out Monday.<\/p>\n","protected":false},"author":1283,"featured_media":200062,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[6,8,9,22,26,3],"tags":[12339,3110,44],"contributors-categories":[13597],"class_list":{"0":"post-200060","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-north-america","8":"category-region","9":"category-securities","10":"category-stocks","11":"category-text-articles","12":"category-traders-insight","13":"tag-buyout","14":"tag-macys","15":"tag-stocks","16":"contributors-categories-finimize"},"pp_statuses_selecting_workflow":false,"pp_workflow_action":"current","pp_status_selection":"publish","acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.9 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Macy&#8217;s Might Just Be 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