Macy's Studies Dot-com Spin-off - NewsBreak

Macy's Inc. has hired AlixPartners to review a potential separation of its dot-com and brick-and-mortar businesses à la Saks and Saks Fifth Avenue. Jeff Gennette, Macy's chairman and chief executive officer, confirmed that the retailer has tapped AlixPartners to examine the ramifications of the move. An activist investor, Jana Partners, has been pushing for the reengineering at Macy's with the goal of raising shareholder value. Earlier this year, Saks Fifth Avenue separated its dot-com and store fleet into two separate companies, putting pressure on many retailers to examine the possibility.