Jana Partners wants Macy’s to follow the lead of Sak’s and spin off its e-commerce operations from the rest of the business. The activist investment firm believes that Macy’s total value on the market would be better represented than having all of its functions under a single roof. Jana did not disclose its stake in the department store retailer. Macy’s did not respond favorably to the recommendation, claiming that it is focused on providing its customers with a “dynamic, seamless omnichannel experience.”