NuOrion Sends Letter To Chairman Of Macy's Demanding Urgent Board Action To Accelerate Digital Transformation
NuOrion Advisors, LLC, a shareholder of Macy's, Inc. (NYSE: M), has sent a letter to the company's Chairman requesting the formation of a Digital Special Committee. The committee would explore proposals for strategic investments in Macys.com, partnerships with EV manufacturers to utilize store facilities, and the acceptance of cryptocurrency payments. This move aims to enhance Macy's digital transformation and adapt to market trends.
- Request for formation of a Digital Special Committee to enhance digital strategy.
- Exploration of strategic investments could drive growth in e-commerce.
- Potential partnerships with EV companies might utilize physical assets effectively.
- The need for urgent action may indicate current shortcomings in Macy's digital strategy.
NEW YORK, Nov. 4, 2021 /PRNewswire/ -- NuOrion Advisors, LLC ("NuOrion"), a shareholder of Macy's, Inc. (NYSE: M), today announced that it has sent a letter to the Chairman of the Board demanding the formation of a Digital Special Committee to evaluate and solicit proposals: i) from private equity firms to make a strategic investment in Macys.com, ii) from EV Car manufacturing and charging companies (e.g. Tesla, Lucid, Rivian, Atom Power) to utilize ground floor and parking facilities of landmark stores, and iii) pursue the acceptance of Crypto payments.
The full text of NuOrion's Letter is available for viewing at the following link: https://nuorionadvisorsbusiness.files.wordpress.com/2021/11/letter-to-m-chairman-3.pdf
About NuOrion Advisors, LLC
NuOrion Advisors is a private investment firm that makes direct investments in undervalued corporate fallen angels that can regain their economic strength. NuOrion has an active industrial approach to investing.
Cautionary Statement Regarding Forward-Looking Statements:
The information herein may contain forward-looking statements which reflect NuOrion's views with respect to, among other things, future events and financial performance. Specific forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts and include, without limitation, words such as "may," "will," "expects," "believes," "anticipates," "plans," "estimates," "projects," "targets," "forecasts," "seeks," "could," "should" or the negative of such terms or other variations on such terms or comparable terminology. Similarly, statements that describe NuOrion's objectives, plans or goals are forward-looking. Forward-looking statements are subject to various risks and uncertainties and assumptions. There can be no assurance that any idea or assumption herein is, or will be proven, correct. If one or more of the risks or uncertainties materialize, or if NuOrion's underlying assumptions prove to be incorrect, the actual results may vary materially from outcomes indicated by these statements. Accordingly, forward-looking statements should not be regarded as a representation by NuOrion that the future plans, estimates or expectations contemplated will ever be achieved.
Additional Information:
Any views expressed in the letter represent the opinion of NuOrion, whose analysis is based solely on publicly available information. No representation or warranty, express or implied, is made as to the accuracy or completeness of any information contained therein. NuOrion expressly disclaims any and all liability based, in whole or in part, on such information, any errors therein or omissions therefrom. NuOrion also reserves the right to modify or change its views or conclusions at any time in the future without notice.
The information contained in the letter does not recommend the purchase or sale of any security nor is it an offer to sell or a solicitation of an offer to buy any security. Furthermore, the information contained in the letter is not intended to be, nor should it be construed or used as, investment, tax or legal advice. No representation or warranty is made that NuOrion's investment process or investment objectives will or are likely to be achieved or successful or that NuOrion's investments will make any profit or will not sustain losses. Past performance is not indicative of future results.
Nothing contained in the letter should be taken as any form of commitment on the part of NuOrion to take any action in connection with any particular security. NuOrion and its affiliates are in the business of buying and selling securities. They have, and may in the future, buy, sell or change the form of their position in any security for any or no reason whatsoever.
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SOURCE NuOrion Advisors, LLC
FAQ
What is NuOrion's proposal to Macy's regarding digital transformation?
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