Macy's Sells Chocolate Business To Garrett Brands

Macy's Inc. said Monday that it has entered into an agreement with Garrett Brands to sell its Frango premium chocolate business. Garrett Brands, the owner of Garrett Popcorn Shops, will develop, create, sell and distribute Frango products. And Macy's will continue to sell the products in the Frango Cafe in the Macy's State Street store in Chicago, at more than 350 other locations, and online. Macy's shares are inactive in premarket trading, and down 28% for the past year. The S&P 500 index is up 18.3% for the last 12 months.