Macy’s Ends Buyout Talks
The retailer will not be making a deal with Arkhouse Management and Brigade Capital Management, opting to focus on its turnaround plan.

In March, real estate investment firm Arkhouse Management and asset management firm Brigade Capital Management offered the department store chain a buyout deal worth $6.6 billion.
It was their second offer after the retailer declined their initial offer of $5.8 billion in December 2023.
Macy’s had been considering the revised offer, opening its books to the firms in April.
However, its board of directors unanimously have decided to end discussions with Arkhouse and Brigade.
“At this time, after careful review, we have concluded that Arkhouse and Brigade’s proposal lacks certainty of financing and does not deliver compelling value, notwithstanding the significant time, resources, and information shared during this process,” said Paul Varga, lead independent director of Macy’s.
Macy’s said it had been working “in good faith” with Arkhouse and Brigade for more than seven months now, with the understanding that there was a willingness to possibly increase the purchase price to an amount Macy’s board might accept.
Following “hundreds of hours” of due diligence, the involved companies agreed that Arkhouse and Brigade would deliver a fully financed and actionable proposal to Macy’s by June 25.
The offer was to include the best purchase price per share and fully negotiated commitment papers for all the debt and equity needed to finance the deal.
On June 26, Arkhouse and Brigade instead sent Macy’s a “check in” letter, said the retailer, with an increased bid of $24.80 per share.
Though slightly higher than the second offer of $24 per share, it was within a range that Macy’s board already had said was “not compelling.”
In addition, the financing papers submitted to Macy’s were “insufficient,” leading the board to believe that a viable offer cannot be reached within a reasonable period of time.
Macy’s said its management team instead will focus on increasing shareholder value through its latest turnaround plan, called “A Bold New Chapter.”
Announced in February, the plan includes closing 150 stores over the next three years as it grapples with declining sales.
The three pillars of the strategy are: strengthening the Macy’s brand, accelerating luxury growth, and simplifying and modernizing end-to-end operations.
Macy’s Chairman and CEO Tony Spring said, “Our team continues to be singularly focused on creating value for our shareholders. While it remains early days, we are pleased that our initiatives have gained traction, reinforcing our belief that the company can return to sustainable, profitable growth, accelerate free cash flow generation, and unlock shareholder value.”
The board is open to exploring all paths to increased shareholder value, added Varga, and believes the new strategy is the best opportunity for doing so.
Macy’s said it will share additional details about how the strategy has been working so far as part of its second-quarter earnings, which it will report next month.
The Latest

The charm necklace features six nautical charms of shells and coral that founder Christina Puchi collected on Florida’s beaches.

Campbell joins the company as vice president of business development while Liebler is the new vice president of operations.

The medals feature a split-texture design highlighting the Games’ first time being hosted by two cities and the athletes’ journeys.

The Seymour & Evelyn Holtzman Bench Scholarship from Jewelers of America returns for a second year.

Sponsored by The INSTORE Jewelry Show 2025


Globally, travel and transportation brands reigned, while in the U.S., alcoholic beverage companies and a lingerie brand took the top spots.

The Brooklyn-based jewelry designer is remembered as a true artist and a rare talent.

The countdown is on for the JCK Las Vegas Show and JA is pulling out all the stops.

Production at the mine in Canada’s Northwest Territories topped 1 million carats in Q2, the third consecutive quarter of growth.

A new slate of Learning Workshops will take place in Oklahoma, Mississippi, and Georgia.

The middle class is changing its approach to buying jewelry and affordable luxury goods, the NRF said.

It marks the third consecutive quarter of growth for Cartier, Van Cleef & Arpels, Buccellati, and Vhernier.

The reseller’s market trends report, based on its sales data, also shows exactly how much Rolex prices have jumped since 2010.

The auction house will be hosting a retrospective paying tribute to jeweler Jean Dinh Van and his company’s 60th anniversary.

Jake Duneier and Danielle Duneier-Goldberg have stepped into the roles of CEO and president, respectively.

The “Impermanence” collection contemplates nature through the Japanese art of Ikebana (flower arranging) and philosophy of wabi-sabi.

The Texas-based jewelry retailer has set up shop in Tennessee and Arizona.

Eric Ford will step into the role, bringing with him decades of experience.

In addition to improved capabilities, the acquisition will allow the jeweler to offer support to other independent jewelers.

The “Celestial Blue” capsule collection campaign features Olympian Kateryna Sadurska.

The seasonal store, located in Mykonos, Greece, offers exclusive events, personal styling, and curated experiences.

The New England jeweler is hosting a bridal event for the month of August.

The trade-only event will host its debut fair in the Emerald City later this month.

Its sessions will focus on inventory strategies, staff performance, retention and acquisition, emerging market trends, and more.

For its 10th anniversary, Miseno designed the “Arco” earrings based on the Arco Felice, an arch conceptualized in A.D. 95 in Miseno, Italy.

The jewelry company is one of several contributing to relief efforts in the region after the recent floods.

Inspired by fiancé Sid Wilson’s nickname for her, the white and yellow diamond ring features a unique honeycomb design.