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The corporate, though, remains extra enthusiastic about trimming its actual property portfolio at the margins, because it did last year when it offered its Sunnyvale and Cupertino places in Northern California, they added. Various outstanding hedge funds have not too long ago acquired stakes, although it's unclear which have approached Macy's management with real property proposals.
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Throughout Macy's first quarter earnings name on Might 13, Chief Monetary Officer Karen Hoguet addressed the corporate's real estate strategy, suggesting that some estimates valuing its property have been achieved "over simplistically." In line with its last annual report, Macy's property has a guide value of $7.eight billion.
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