By Charity L. Scott
查理·L·斯科特(Charity L.Scott)著Macy'sInc. said it hired consulting firm AlixPartners to evaluate whether it makes sense to spin off its e-commerce operations, a move that comes amid pressure from an activist investor to separate the fast-growing digital segment from the department-store chain's physical stores.
梅西百貨公司該公司表示，它聘請了諮詢公司AlixPartners來評估剝離其電子商務業務是否有意義，此舉正值一位維權投資者施壓，要求將快速增長的數字業務與這家百貨商店連鎖店的實體店分開。
Macy's Chief Executive Jeff Gennette said in an interview Thursday that the company, along with its board and advisers, had previously looked at whether it made sense to split its digital business from its physical stores.
梅西百貨(Macy‘s)首席執行長傑內特(Jeff Gennette)週四在接受採訪時説，該公司與董事會和顧問此前曾考慮過將數字業務從實體店中剝離是否有意義。
"What's new now is the market is assigning huge value to e-commerce businesses," Mr. Gennette said. "We wanted one more time to pressure test our assumptions and analysis."
“現在的新情況是，市場正在賦予電商巨大的價值，”Gennette説。“我們希望再一次對我們的假設和分析進行壓力測試。”
He said it was too early to tell what the results of the analysis would be, but said it would hinge on whether a separation would yield additional shareholder value beyond Macy's current strategy.
他表示，現在判斷分析結果還為時過早，但他表示，這將取決於分拆是否會帶來梅西百貨當前戰略以外的額外股東價值。
AlixPartners declined to comment.
AlixPartners拒絕置評。
Activist Jana Partners LLC sent a letter to the company's board in October urging the company to spin off its e-commerce business. The Wall Street Journal reported at the time that the Macy's e-commerce business had already drawn interest from firms that could invest in it in conjunction with a spinoff.
維權人士Jana Partners LLC在10月份致信該公司董事會，敦促該公司剝離其電子商務業務。“華爾街日報”當時報道稱，梅西百貨的電子商務業務已經吸引了一些公司的興趣，這些公司可能會在剝離的同時對其進行投資。
The proposal by Jana Partners is similar to a plan being embarked upon by Hudson's Bay Co., the owner of department-store operator Saks Fifth Avenue, which earlier this year announced it would spin off the Saks.com ecommerce business. The spinoff would be taken public in the first half of 2022 with a target valuation of roughly $6 billion, the Wall Street Journal has reported. Macy's market value stood at about $9.6 billion as of Wednesday.
Jana Partners的提議與哈德遜灣公司(Hudson‘s Bay Co.)正在實施的一項計劃類似。哈德遜灣公司是百貨商店運營商薩克斯第五大道(Saks Five Avenue)的所有者，該公司今年早些時候宣佈將剝離Saks.com電子商務業務。據“華爾街日報”報道，剝離將於2022年上半年上市，目標估值約為60億美元。截至週三，梅西百貨的市值約為96億美元。
Macy's announcement came as the company posted another quarter of strong sales growth Thursday, with plans to launch a new online marketplace through its website for third-party sellers.
梅西百貨宣佈這一消息的同時，該公司週四公佈了又一個強勁的季度銷售額增長，並計劃通過其網站為第三方賣家推出一個新的在線市場。
Macy's sales at stores open at least a year rose roughly 36% in the three months ended Oct. 30, compared with the previous year, and up nearly 9% from 2019. It reported a profit of $239 million, from a loss of $91 million in the prior-year quarter.
截至10月30日的三個月，梅西百貨開業至少一年的門店銷售額同比增長約36%，較2019年增長近9%。該公司報告利潤2.39億美元，而去年同期虧損9100萬美元。
Shares rose 16% in Thursday's trading as the New York company's results beat Wall Street expectations and raised its full-year outlook ahead of the key holiday shopping period.
在週四的交易中，這家紐約公司的股價上漲了16%，因為這家紐約公司的業績超出了華爾街的預期，並在關鍵的假日購物期之前上調了全年預期。
Department-store chain Kohl's Corp.'s stock gained 6% Thursday after it reported that net sales increased roughly 16% in the third quarter and raised its full-year profit outlook.
百貨商店連鎖店Kohl‘s Corp.週四股價上漲6%，此前該公司公佈第三季度淨銷售額增長約16%，並上調了全年利潤預期。
The new digital marketplace, which Macy's said is scheduled to launch in the second half of 2022, would enable it to sell a wider assortment of brands and categories from third-party merchants on macys.com and bloomingdales.com. The approach for retailers to open up their platforms to products that are sold and shipped by other sellers has been gaining favor in recent years. Separately, Nordstrom said Thursday it was joining with sports-apparel seller Fanatics to sell licensed merchandise through a new shop on nordstrom.com.
梅西百貨表示，新的數字市場計劃於2022年下半年推出，這將使其能夠在macys.com和bloomingdales.com上銷售來自第三方商家的更廣泛的品牌和類別。近年來，零售商向其他賣家銷售和發貨的產品開放平臺的做法一直受到青睞。另外，諾德斯特龍週四表示，將與運動服裝銷售商Fanatics聯手，通過nordstrom.com上的一家新店銷售特許商品。
"Our digital business is targeted to generate $10 billion in sales by 2023, and we expect the new marketplace platform to produce incremental revenue on top of that target," said Matt Baer, chief digital and customer officer at Macy's.
梅西百貨首席數字和客户官馬特·貝爾(Matt Baer)表示：“我們的數字業務的目標是到2023年實現100億美元的銷售額，我們預計新的市場平臺將在這一目標的基礎上增加收入。”
Macy's, which also owns Bloomingdale's and Bluemercury, reported that it doesn't expect supply-chain disruptions associated with the continuing fallout from the Covid-19 pandemic to materially impact the business during the holiday quarter. The department-store giant said inventory in the third quarter was up more than 19% from the previous year, although the level was lower than the comparable 2019 period.
梅西百貨(Macy‘s)還擁有布魯明戴爾百貨(Bloomingdale’s)和藍星百貨(BluEmercury)。該公司報告稱，預計新冠肺炎疫情持續影響的供應鏈中斷不會對假日季度的業務產生實質性影響。這家百貨商店巨頭表示，第三季度庫存同比增長19%以上，儘管這一水平低於2019年同期。
Mr. Gennette said he doesn't expect congestion at the Port of Los Angeles to ease up any time soon. Macy's has sidestepped some of the problems by bringing in holiday goods a month earlier than usual and moving freight to other ports.
根內特説，他預計洛杉磯港的擁堵狀況不會很快緩解。梅西百貨比往常提前一個月進口假日商品，並將貨物轉移到其他港口，從而避開了一些問題。
Macy's joins the growing list of large retailers that have been able to stock their shelves for the holiday shopping season, despite widespread supply-chain snarls. Target Corp. and T.J. Maxxparent TJX Cos. on Wednesday revealed strong quarterly sales, while assuring shareholders that they will have plenty of inventory for the coming months.
梅西百貨(Macy‘s)加入了越來越多的能夠為假日購物季儲備貨架的大型零售商之列，儘管供應鏈普遍陷入混亂。塔吉特公司(Target Corp.)和T.J.MaxxParent TJX Cos。週三公佈了強勁的季度銷售，同時向股東保證，未來幾個月他們將有充足的庫存。
Unlike retailers including Target, which saw its margins shrink to absorb higher expenses, Macy's reported higher margins compared with last year. It said they came from pricing, promotion and inventory productivity. The company also reported higher delivery costs associated with online sales becoming a bigger percentage of the overall business. Digital sales made up a third of Macy's net sales of $5.4 billion in the latest quarter.
與塔吉特(Target)等零售商不同，塔吉特(Target)的利潤率因吸收更高的支出而縮水，而梅西百貨(Macy‘s)報告的利潤該公司表示，它們來自定價、促銷和庫存生產率。該公司還報告説，與在線銷售相關的更高的配送成本在整個業務中所佔的比例更大。在梅西百貨最近一個季度54億美元的淨銷售額中，數字銷售額佔了三分之一。
The retailer has also been raising pay for some of its staff in recent months and set a target of paying a $15-an-hour minimum wage nationwide by May 2022. Macy's is among U.S. employers across a range of industries that have increased pay to retain and attract workers to fill a glut of open positions.
近幾個月來，這家零售商還一直在提高部分員工的工資，並設定了到2022年5月在全國範圍內支付每小時15美元的最低工資的目標。梅西百貨(Macy‘s)是一系列行業的美國僱主之一，這些僱主提高了工資，以留住和吸引工人填補過剩的空缺職位。
In its revised forecast Thursday, the company said it expects full-year earnings excluding special items between $4.57 a share and $4.76 a share, up from between $3.41 a share and $3.75 a share. It expects net sales between $24.12 billion and $24.28 billion, up $450 million at the midpoint.
在週四修正後的財測中，該公司表示，預計不包括特殊項目的全年收益為每股4.57美元至4.76美元，高於此前預計的每股3.41美元至3.75美元。該公司預計淨銷售額在241.2億美元至242.8億美元之間，按中間價計算將增加4.5億美元。
Suzanne Kapner contributed to this article.
蘇珊娜·卡普納(Suzanne Kapner)對本文也有貢獻。
Write to Charity L. Scott at Charity.Scott@wsj.com
寫信給Charity L.Scott，電子郵件為Charity.Scott@wsj.com
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