Macy's, Inc. (NYSE:M) today issued the below statement following the press release and presentation issued by Barington Capital Group, L.P. ("Barington") and Thor Equities LLC ("Thor"):
The Macy's, Inc. Board of Directors and management team are committed to delivering sustainable, profitable growth and driving shareholder value. We have consistently demonstrated open-mindedness, including with respect to regularly reviewing the Company's strategy and capital allocation framework and exploring all paths to enhance value.
We remain confident in our Bold New Chapter strategy, which continues to gain traction across all three of its pillars, and we expect to share further details regarding our progress when we report our full third quarter results and provide our fourth quarter and full year outlook.
We will continue to act in the best interests of the Company and all Macy's, Inc. shareholders and we look forward to engaging with our shareholders, including Barington and Thor, as we further advance our initiatives and execute toward our long-term goals.
Bank of America Securities and Wells Fargo are acting as financial advisors and Wachtell, Lipton, Rosen & Katz is acting as legal advisor to the Company.
