Macy’s struggles Premium escorts in Tel Aviv

Macy’s and other department stores, such as Kohl’s, Nordstrom and JCPenney, have lost out in recent years to online retailers like Amazon; big box retailers that sell groceries and a range of consumer goods like Walmart and Target; and discount clothing chains such as TJ Maxx and Marshalls. Macy’s stock (M) has dropped around 70% over the past decade.

It’s the second time activist investors have tried to pressure Macy’s this year.

Macy’s management ended talks with private investors attempting to take over the company in July. The investors planned to take Macy’s private and consider spinning off its real estate assets or separating its online operations from brick-and-mortar stores.

Macy’s board of directors voted unanimously to end discussions with Arkhouse Management and Brigade Capital Management over the investors’ offers to acquire the chain. Macy’s said it was unclear that the investors could finance a deal and it was not in shareholders’ best interests.

The new proposal also comes just weeks after Macy’s disclosed that an employee intentionally hid as much as $154 million in expenses over the course of nearly three years.

Macy’s was forced to delay its quarterly earnings report because of the accounting problem. The company reports quarterly earnings Wednesday.