Czech billion investor Daniel Kretinsky has been buying up stakes in retailers, taking advantage of the massive drop in values that most have experienced during the pandemic.
On May 19 Bloomberg reported that Mr. Kretinsky had purchased a 6% stake in Foot Locker (USA). The company’s shares have been down nearly 30% this year.
Earlier this month he purchased a 5% take in Macy’s (USA). The retailer has lost nearly 70% of its valuation this year.
According to local media reports, he plans to work with management and help the retailer turnaround its business.
Mr. Kretinsky has large stakes in Casino (France) and Metro (Germany).
