Macy’s gives up on a spin-off for e-commerce

As another decision that supports omnichannel, at the end of February 2022, Macy’s department stores (total turnover of US$24.4 billion in 2021, i.e., as much as in 2019, including 35% of online sales) canceled the spin-off of their e-commerce business.

Activist investor Jana Partners had demanded a spin-off since October 2021. But Macy’s C.E.O. Jeff Gennette believes that it makes more sense to pursue an integrated omnichannel business. He believes the risk of a spin-off i