Macy Considers Equity Sales: Retailer R. H....
From Times Staff and Wire Reports
Macy Considers Equity Sales: Retailer R. H. Macy & Co. is considering the sale of a significant equity stake to help reduce debt. Macy, which already has sold small stakes to finance buybacks of some of its bonds, said it was considering more equity sales and was “exploring the possibility of selling a more substantial equity interest to a buyer who shares our view of Macy’s value and future.” The retailer disclosed its plans in a letter to stockholders but did not identify any prospective investors.
