Saks, Macy's and now Kohls. Big retailers are keeping up with the e-commerce times but investors say they aren't seeing it in stock market valuations.
from activist investor Engine Capital, who launched a campaign to have the department store explore strategic alternatives for its business on Monday.
"I don't know what I would do if I had a brick-and-mortar along with a separate online company," Drexler told CNBC. "They are so embracing of each other." That $6 billion valuation would triple the value that Insight Partners pegged Saks' online business as being worth when it provided financing early this year.
The department store's shares are up nearly 30% year to date, but it has underperformed in recent history, with a stock price that hasn't surpassed its valuation from five years ago.The future of department stores and in-person shopping remains uncertain, and Drexler includes himself among those who see more challenges ahead for the retail sector.
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