Latest / Raleigh News Today | 2 Min News | The Daily News Now!
Berkshire's Quiet Bet on Macy's | Raleigh News
While the world fixates on AI megadeals, Berkshire Hathaway’s quiet bet on Macy’s reveals a smarter play: value in overlooked assets. After Buffett stepped down, Greg Abel’s first move wasn’t just Delta Air Lines—it was a $55 million stake in the department store giant, marking Berkshire’s first such investment since 1966. Despite Macy’s 40% stock drop and tough reputation, the company’s real estate—including its Manhattan flagship—may be worth more than the whole business. Recent signs of recovery, like a 3% sales jump and upgraded store success, hint at hidden potential. This cautious entry…
The skinny
The skinny isn't ready yet — notes appear once the transcript is processed.