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  "documentTitle": "Macy's Inc. (M)",
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  "presentationDate": "2016-01-11 00:00:00",
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      "text": "Macy's store summary and Bloomingdale's store summary data points.",
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      "text": "Real estate value: $21bn",
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      "text": "We believe Macy's real estate is worth $21 billion. Along with a leading third party real estate valuation and advisory firm, we used a highly detailed property-by-property valuation methodology and conservative assumptions.",
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      "text": "Source: Company filings and Starboard Value estimates. Note: Excludes store closures announced on January 6, 2016. (1) Downtown Macy's includes iconic Macy's assets excluding Herald Square.",
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