It’s been another week with far more retail news than there is time in the day. Below, we break down some things you may have missed during the week and what we’re still thinking about.
From Adidas’ partnership with the Black Women’s Player Collective to Sam’s Club tie-up with Tidal, here’s our closeout for the week.
What you may have missed
Jana Partners reportedly takes stake in Macy’s in order to push for e-commerce spinoff
After Scott Ostfeld, a partner at Jana Partners, made waves with his assertion that Macy’s should replicate Saks’ e-commerce spinoff in order to liberate value locked in its own online operations, the Wall Street Journal this week reported that the firm has taken a stake in Macy’s.
Jana and Macy’s each declined to comment to Retail Dive. If Jana were to have a significant stake in the department store, it would be in a position to advocate for a breakup. Knowledge of the undertaking at Saks shapes the thinking behind the idea of Macy’s as an ideal candidate for a similar move, according to a person familiar with Jana’s reasoning. Nine months preparing for the split resulted in a series of operating agreements to ensure that the customer experience remains seamless despite the separation, and the entities are co-existing successfully, the person said. Saks completed the split in March, and sibling companies Saks Off 5th and Hudson’s Bay Co. have followed suit.
Target partner with Lego for latest collection