Jana Partners Calls on Macy’s to Spin Off its E-commerce Business
October 06, 2021 at 01:46 pm EDT
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On October 6, 2021, Jana Partners announced that it is reportedly encouraging Macy’s, Inc. to spin off its e-commerce business, in order to seek a higher valuation from the separate entity. Jana Partners stated in an investor presentation that the Company’s online business could be worth about $14 billion, if it were to go through with the split. Jana Partners added that the Company’s current market value is $6.9 billion.
Macy's, Inc. is an omni-channel retail company. The Company operates stores, websites and mobile applications under three brands, Macy's, Bloomingdale's and Bluemercury, which sell a range of merchandise, including apparel and accessories (men's, women's and kids'), cosmetics, home furnishings and other consumer goods. The Company has stores in 43 states, the District of Columbia, Puerto Rico and Guam. Its operations are conducted through Macy's, Macy's Backstage, Macy's small format, Bloomingdale's, Bloomingdale's The Outlet, Bloomie's, and Bluemercury. In addition, Bloomingdale's in Dubai, United Arab Emirates and Al Zahra, Kuwait are operated under a license agreement with Al Tayer Insignia. The principal private label brands offered by the Company include Alfani, And Now This, Aqua, Bar III, Belgique, Cerulean 6, Charter Club, Club Room, Epic Threads, Family PJ's, first impressions, Giani Bernini, Holiday Lane, Home Design, Hotel Collection, Hudson Park, Ideology, and others.
MACY'S, INC. 
