Miller expects Peltz to franchise the stores Wendy's owns, sell some real estate, consolidate the duplicate back office, and come up with a plan to increase revenue.
On the sales front, Philip Miller, the current boss of Saks, argues that Proffitt's cash flow and real-estate portfolio will speed Saks's plans to open stores, pay for more renovations and help take Saks's name into new countries and new retail formats such as the Internet.