Macy's Could Actually Be Worth an Astounding Amount
Macy's owns a lot of real estate -- and that makes it very valuable.
Hudson's Bay could be interested in buying Macy's (M) - Get Report . If it does, it better be prepared to open its checkbook.
Retailers may be struggling, but Macy's owns a lot of real estate, and that makes it very valuable. Macy's could conservatively be worth about $16.4 billion, or $53 a share, according to Deutsche Bank, which says Macy's real estate alone is worth in the low-$40s-a-share range.
This article was written by a staff member of TheStreet.
