Core Viewpoint - Macy's has shown signs of recovery with its recent quarterly earnings, marking the first sales growth in years, which has positively impacted its stock price by over 25% in two days [2][4]. Company Performance - The company's "Bold New Chapter" turnaround strategy appears to be yielding results, as evidenced by the recent sales growth and the stock price revaluation [3]. - Comparable store sales have increased for the first time in years, contributing to a market capitalization of nearly $5 billion [4]. - Bloomingdale's has reported a 5.7% growth in comparable sales for the recent quarter, while Bluemercury has achieved its eighteenth consecutive quarter of gains [6]. Real Estate and Asset Management - Macy's real estate portfolio is considered valuable, with estimates suggesting it could be worth more than the company's current market capitalization [4]. - Investors have urged the company to leverage its real estate assets and consider spinning off its luxury brands, Bloomingdale's and Bluemercury [5]. - The company is contemplating a sale and leaseback of its real estate portfolio to potentially justify a higher stock price [7]. Historical Context - Macy's has a long history as the largest department store chain in the U.S., with annual sales of $23 billion, but has faced challenges in maintaining customer loyalty due to its acquisition strategy in the past [8][10]. - The company has struggled with customer engagement, but recent efforts indicate a renewed focus on customer-centric strategies [11].