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Activist Jana Calls for Macy’s to Spin Off E-Commerce Unit

  • Macy’s says online, in-store sales are ‘powerful combination’
  • Jana contends Macy’s could follow lead of Saks Fifth Avenue
Inside Macy's Flagship Store Ahead Of Earnings Figures
Photographer: Amir Hamja/Bloomberg
Updated on

Activist investor Jana Partners believes Macy’s Inc. could boost its valuation by spinning off its e-commerce business.

Jana said in an investor presentation Wednesday that the retail chain could follow the lead of Saks Fifth Avenue, whose owner spun out its e-commerce business. At a similar valuation, Macy’s online business could be worth about $14 billion, Jana said.