Trading of Macy's stock was briefly halted Friday after its price shot up unusually quickly, a surge that appears to be fueled by a report that the retailing giant is in preliminary talks to be acquired by Hudson's Bay, a Canadian department store empire.
The merger discussions, which were reported by the Wall Street Journal, come as each company is facing an identity crisis. Department stores have been pummeled by a host of major changes in shopping patterns. Much of our spending is movin
RelSci News & Alerts gets you:
- 10 free articles a month from top subscription outlets like the Financial Times, New York Times, and Washington Post
- Competitive business intelligence through daily data updates
- Custom feeds on target high-value individuals, companies, industries, and topics delivered straight to your inbox