Macy’s to keep stores, e-commerce together

Macy’s won’t split off its e-commerce arm from its traditional retail operations, despite urging from activist investor Jana Partners, the company said while reporting fourth-quarter revenue and earnings that beat analysts’ forecasts. The retailer is optimistic about its prospects for the year ahead and expects to speed up its turnaround efforts, which include winning back former customers with private-label lines, giving its loyalty program an update and opening more small-format off-mall stores. CNBC

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