Macy’s, Inc. Forms Strategic Alliance with Brookfield Asset Management to Expand Opportunities to Enhance Real Estate Portfolio Value

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Go back to Macy’s, Inc. Forms Strategic Alliance with Brookfield Asset Management to Expand Opportunities to Enhance Real Estate Portfolio Value

Macy's (M) Tops Q3 EPS by 5c; Comps Outpace; Forms Alliance with Brookfield Asset Management

November 10, 2016 8:02 AM EST

Macy's (NYSE: M) reported Q3 EPS of $0.46, $0.05 better than the analyst estimate of $0.41. Revenue for the quarter came in at $5.63 billion versus the consensus estimate of $5.65 billion.

Comps fell 2.7 percent, versus a drop of 3.4 percent expected.

Macys also announced it is forming a strategic alliance with Brookfield Asset Management, a leading global alternative asset manager, to create increased value in its real estate portfolio.

Brookfields investments in real estate span all major sectors - retail, office, multi-family, industrial and hospitality. Brookfield is one of the few firms with both the... More