Macy's, Inc. Completes Another Big Real Estate Deal -- but It's Not the Next Sears
In the past couple of years, Macy's (NYSE: M) has started to get serious about maximizing the value of its real estate. In several cases, this approach has involved closing or downsizing stores that sat on valuable land to sell the underlying real estate.
As a result, many investors have drawn parallels between Macy's and Sears Holdings (NASDAQ: SHLD), which has also been selling a lot of real estate in recent years. However, the similarities end there. Sears Holdings is selling assets in a desperate attempt to stave off bankruptcy. It's unlikely that shareholders will ever see any benefit from Sears' real estate deals.
By contrast, Macy's is a profitable retail business that also has a lot of great real estate. Long-term investors are likely to benefit from both sides of the Macy's story.
Source: Fool.com
