Macy’s says it is working with AlixPartners to review its business structure -Breaking
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(Reuters] – Macy’s Inc. (NYSE 🙂 stated on Thursday that they are working with AlixPartners, a consulting company to examine its business structure. The announcement comes just a month after Jana Partners (activist investor) urged Macy’s department store chain Jana to discontinue its ecommerce operation.
Jana Partners holds an undisclosed percentage of the company’s shares. It stated that Macy’s could increase its share prices if it separates its e-commerce businesses as its customers spend more online.
“We recognize the important market value that pure e-commerce businesses have. We are doing additional analysis to help us inform our long-term strategic plan to further unlock Macy’s value,” Jeffrey Gennette, Chief Executive Officer of Macy’s said in a Thursday call after the earnings.
Jana Partners felt that Macy’s choice to work with consultants to examine its business was admirable.
Macy’s increased its profits and sales outlook for the year, as well as easing concerns that Macy’s would face product shortages over the critical holiday season.
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