Benzinga | Oct 18, 2021 03:19PM EDT

Why Macy's Shares Are Rising

Macy's Inc (NYSE:M) shares are trading higher following reports suggesting Saks Fifth Avenue's eCommerce unit has begun preparations for an IPO at a $6 billion valuation. Additionally, it was reported last week that activist fund Jana Partners has taken a stake in Macy's and called on it to spin off its e-commerce operations.

Macy's is trading higher by 31% over the past month and higher by 68% over the past six months amid marked interest from retail investors.

Macy's operates nearly 600 stores under the Macy's brand, 56 stores under the Bloomingdale's brand, and about 160 freestanding Bluemercury specialty beauty stores.

Macy's has a 52-week high of $28.30 and a 52-week low of $6.01.