jon jonathan duskin of macellum is back >> it is interesting that you're back you settled with the company more than a year ago you got a couple of board seats and you got them to make some changes. why are you back >> unfortunately, the stock hasn't performed well. the business hasn't performed well and two directors just wasn't enough change we really tried to work constructively a year ago when we entered the settlement. the company and the board told us and other shareholders that everything was working wonderfully well and they had the business fixed and they were on the right track if you read the letter that there were many quotes about how well things were going and if you look now a year later it's another wasted year. sales dramatically underperformed the sector and whether it's on mall or specialty or big box and all forms of retail, they underperformed and their sales are going versus 2019 and most of the industry is up 20% versus 2019 they're negative to 2019 while the ebitda has grown it's still lagged the entire sector and the stock is trading cheaper than it did during the

. >> kohl's firing back in a statement today saying quote, macellum refused to enter a confidentialityeement. they say quote, distracting from the company from this focus does not benefit shareholders macellum said the board rejected recent offers to redirect and plans to nominate a slate of directors if the quote status quo persists guys >> we've seen a lot of activity, leslie, in the retail space lately whether pressure to spin off the e-commerce business in the case of macy's or this pressure kohl's is facing why do you think that is >> it's a great question so last year, and really the year before that, activists kind of sat on the sidelines and said retailers, you're clearly in a point of turmoil with the pandemic there are so many unknowns with regard to shutdowns and people not going to stores as much. here we are two years later and activists have kind of given up their patience, tha shall we sa. a big part of that campaign is to separate e-commerce from brick and mortar we see that with macy's and here with the renewed push. it's becoming an increasingly popular thing after we