MACY’S ATTRACTS NEW INVESTOR

Czech billionaire and professional soccer team owner Daniel Kretinsky has purchased a 5 percent stake in Macy’s, according to an SEC regulatory filing on Monday.

Kretinsky now owns 15.5 million shares in Macy’s, becoming one of its five biggest shareholders according to Bloomberg.

Known as the “Czech sphinx” for his mysterious behavior, Kretinsky has a net worth of about $3.4 billion and built his fortune in the energy business. His Energetický a průmyslový holding is now one of central Europe’s largest power companies. The billionaire’s holdings also include the Sparta Prague soccer team and a stake in French newspaper Le Monde.

This news comes as the struggling retailer continues to reopen its stores across the country after closing them in March due to the Coronavirus pandemic. Last week, Macy’s openings focused on stores in Georgia, Tennessee, South Carolina, Oklahoma, and Texas.

Among the approximately 50 locations Macy’s intends to reopen this week, 11 opened Monday in Colorado. Most offer in-store shopping along with curbside delivery. Macy’s locations in other states opening this week include Utah, Idaho, Indiana, and Florida. All stores are scheduled to resume operations by mid-June.