"We look forward to engaging with our shareholders, including Barington and Thor." The department store operator announced in February that it would shut about 150 – or nearly a third – of its namesake stores by early 2027. It plans to invest in the roughly 350 locations that remain and invest in its stronger chains, higher-end department store Bloomingdale's and beauty retailer Bluemercury. Barington wants Macy's to beef up its share buybacks and consider selling off its Bluemercury and Bloomingdale's brands. Barington, like other activists that have preceded it, also believes that Macy's should take a fresh look at its real estate portfolio. Barington values it at anywhere from $5 billion to $9 billion, echoing analyses done by other activist investors.