Wall Street Lunch: Macy's Jumps On Berkshire's First Department Store Bet Since 1966
Berkshire Hathaway has made a $55 million investment in Macy's, marking its first foray into the department store sector since 1966. This small stake carries significant symbolic weight for both companies. The move reflects Berkshire's ongoing strategy to diversify its investment portfolio.
- ▪Berkshire Hathaway disclosed a $55 million stake in Macy's.
- ▪This is Berkshire's first investment in a department store since 1966.
- ▪The investment is seen as a strategic move to diversify Berkshire's portfolio.
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