An activist hedge fund has purchased a 5% stake in Macerich, according to a CNBC report, sending the company’s shares up 12% and fueling talk it could push for a sale of the mall owner.
Office Depot on Thursday posted profit and revenue ahead of estimates and announced a "milestone" in its transformation to a business-services driven operation.
The nation's largest department store operator reported mixed results for its third quarter, topping earnings estimates amid tighter inventory controls even as its sales continue to fall.