(Reuters) - Activist investor Barington Capital has built a position in Macy's and is urging the department store chain to cut spending and consider the separation of a real-estate unit within the company, the Wall Street Journal reported on Monday.

Activist investor Barington Capital Group is calling on department store retailer Macy's to develop an internal real estate subsidiary, reduce capital expenditures, and explore strategic options for its Bloomingdale's and Bluemercury chains among other changes to boost its slumping stock,

Activist investor Barington Capital Group is calling on department store retailer Macy's to develop an internal real estate subsidiary among other changes.

Two business entities have teamed-up to mount a new effort to takeover the struggling Macy's department store chain, according to new information.