By Katherine Hamilton
Shares of Macy's rose after Berkshire Hathaway disclosed a new stake in the department store.
The retailer's stock rose 7%, to $19.74, in after-hours trading Friday. Through the close, shares were down 17% this year.
Berkshire Hathaway disclosed that it had bought more than 3 million shares of Macy's.
The company had 263.7 million outstanding shares as of the end of February, according to its annual report.
At the same time, the investing conglomerate said it eliminated stakes in Domino's Pizza, Pool Corp., UnitedHealth Group and Amazon.com.
The investment comes as Macy's is in the final year of a three-year strategy to return to growth, including closing underperforming stores and expanding its Bloomingdale's brand. Macy's recorded an unexpected rise in same-store sales during the holiday season.
Still, the company struck a cautious note in March when it shared its full-year financial outlook, citing potential strain on the consumer from macroeconomic uncertainty.
Macy's is scheduled to report its next quarterly earnings report later this month.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
May 15, 2026 16:35 ET (20:35 GMT)
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