Second Activist Investor Thinks Macy’s Can Out-Saks Saks

Second Activist Investor Thinks Macy’s Can Out-Saks Saks

Sourcing Journal


NuOrion Advisors Wants Cyrpto, Tesla EVs, Charging Stations at Macy's. After Jana Partners called for digital transformation at Macy's, the chain is facing new demands to become a "World-Class New Age retailer."

Electric vehicle charging stations could drive mega traffic to Macy's, according to activist investor NuOrion Partners.

CREDIT: AP Photo/Steven Senne

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The storied department store retailer is facing new calls for change from a second investor with a track record of agitating for corporate change—though private equity’s meddling in retail has yielded mixed results.

On Thursday, NuOrion Adivsors urged Macy’s CEO Jeff Gennette to adopt a number of progressive, traffic-driving initiatives. “We believe that Macy’s has the digital footprint and landmark stores needed to be a World-Class New Age retailer,” Guy Phillips, a managing member at the New York City private equity fund, wrote in his letter to Gennette.