Sometimes just changing the conversation is a win. Retailer Macy’s announced on Tuesday it would not separate its e-commerce business, rebuffing a push by Jana Partners. The shares are roughly back where they were when the activist first went public with the idea, but it nonetheless likely caught a healthy return by selling a chunk of its stake in late 2021. It’s an example of how pushy investors can reshape sentiment about a company, even if their ideas never get put into practice.
People wait in line at Macy's before Black Friday sales in the Manhattan borough of New York City, New York, U.S., November 26, 2021. REUTERS/Jeenah MoonNEW YORK, Feb 23 - Sometimes just changing the conversation is a win. Retailer Macy’sit would not separate its e-commerce business, rebuffing a push by Jana Partners.
Though retail stocks have sagged, shares in the 163-year-old Macy’s are still up 52% over the past year; rivals Kohl's
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