Activist investor Jana Partners reportedly wants to separate Macy’s (M) – Get Macy’s Inc Report digital business from its brick-and-mortar business.
Jana sent a letter to Macy’s board after it acquired a position in the company. Jana projected Macy’s online business to be worth $14 billion.
On October 6, Macy’s told Bloomberg that it’s committed to giving a “dynamic, seamless omnichannel experience.”
Related: Jana Says Macy’s Can Lift Value With E-Commerce Spinoff
Macy’s “e-commerce offering is a powerful combination and is moving us forward as a strong digitally led omnichannel business,” Jana said.
Macy’s has been reportedly eyeing an e-commerce split since a similar move from rival Saks Fifth Avenue.
Related: Saks Inc. to Spin Off Signature Fifth Avenue Store