Berkshire Hathaway Acquires 3 Million Shares of Macy's Stock
Greg Abel, CEO of Berkshire Hathaway (BRK-B), has purchased 3 million shares of Macy's Inc. (M). This marks the first time Berkshire has invested in Macy’s stock since it went public over three decades ago. The move comes as Macy’s shows signs of recovery with a P/E ratio of 10 and improved sales performance across its brands.