Macy’s Is Reportedly Being Pushed To Spin Off Its E-Commerce Business

Macy’s shares outpaced the stock market much of Wednesday afternoon after an activist investor suggested it split its e-commerce business into a separate company the way Saks Fifth Avenue did earlier this year. Several news reports described remarks from Scott Ostfeld, partner and co-portfolio manager of Jana Strategic Investments, speaking at the 13D Monitor Active-Passive Investor Summit Wednesday, in which he reportedly said that Macy’s stock price could double if it made such a move. Macy’s e-commerce operation alone could be worth $14 billion, compared to its current $6.9 billion valuation, Reuters reported Ostfeld as also saying. Read more at Retail Dive.