Berkshire Hathaway's new CEO Greg Abel has purchased shares of Macy's, marking the first time the conglomerate has invested in the department store retailer in its more than 30 years as a public company. The purchase was one of three new stock buys Abel made in his first quarter as CEO, as he works to concentrate the portfolio into fewer high-conviction holdings. Macy's trades at a price-to-earnings ratio of only 10 and offers a dividend yield of 3%, but the company has been distressed amid changing shopping habits. In its fiscal 2026 first quarter, total comparable sales rose 3%, driven by a 10.2% increase at Bloomingdale's and a 6.4% increase at Bluemercury, while the Macy's brand saw a 1.6% gain. Adjusted earnings per share were $0.13, up from $0.11 a year earlier.
Macy’s IncBerkshire Hathaway bought 3 million shares of Macy's, signaling confidence from a high-profile investor.
Berkshire Hathaway Inc