Activist investor wants Macy’s to spin off its e-commerce ops
October 7, 2021
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.”
Recent News
Red Lobster Faces Possible Bankruptcy Amid Financial Struggles
Red Lobster is contemplating filing for Chapter 11 bankruptcy due to mounting debts and financial challenges.
Boeing To Introduce Flying Cars in Asia by 2030
Boeing, the U.S. aircraft manufacturer, has set its sights on introducing flying cars to Asia by 2030.
Wayfair To Launch Its First Physical Furniture Store Next Month
Wayfair, the online furniture retailer, announced its first physical store opening next month.
Hyundai Joins List of Brands To Halt Advertising on X Due to Antisemitism Concerns
Hyundai pressed pause on advertising on X following reports that one of its ads appeared next to an antisemitic and pro-Hitler post on the social media platform.