What: The retailer has hired AlixPartners to review a potential separation of its dot-com and physical businesses à la Saks and Saks Fifth Avenue, with the goal of raising shareholder value.

Why it is important: In this context, the brick-and-mortar front sees positive outlooks with store closures delayed and the rolling out of smaller formats.

On the brick-and-mortar front, Macy’s said it’s delaying store closures and that only 10 stores, of the 60 left to be closed, will shut down in the beginning of 2022. The 60 stores are all cash flow positive, and the company has been noticing customers returning to stores in “C” and “D” malls, which are less productive, because shoppers feel safer there because they are less trafficked.

Next year the company will be rolling out more of its smaller store specialty formats, which include the five Market by Macy’s in Dallas and Atlanta, and one Bloomies store in Fairfax, Va. already operating.

Macy’s Results Top Expectations; Inventories ‘In a Good Place’