Macy's Soared 17%

On October 18 (Monday), the stock price of Macy's $Messi (M.US) $ rose. The stock hit a 52-week high, rising 17.51% to $28.25. It is reported that Messi’s main competitor, the high-end department store chain Saks Fifth Avenue, plans to split its e-commerce division into an independent company and list it in 2022, with a valuation of approximately US$6 billion. Earlier in October, it was reported that activist investor Jana Partners had taken a stake in Macy’s and planned to follow Sacks to urge the board of directors to spin off the e-commerce business. Jana stated that Macy’s online e-commerce business is valued at approximately US$14 billion. Macy's is currently twice the market value of $7 billion. Macy's said in August that its e-commerce business unit has almost doubled in the past four years, and it expects e-commerce sales this year to be between US$8.35 billion and US$8.45 billion.