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Macy’s Appoints New CEO of Bloomingdale’s

Macy’s has announced that Olivier Bron will be the next chief executive of Bloomingdale’s, the luxury chain owned by the company. This leadership change is part of a broader reshuffling that has taken place this year.

Bron, who previously served as the CEO of Central Group’s Central and Robinson Department Stores in Thailand, will assume his new position in November. He will be taking over from Tony Spring. Earlier this year, Macy’s had announced that Spring would be promoted to CEO of Macy’s in February after the retirement of Jeff Gennette, who has been leading the company since 2017.

Macy’s aims to enhance its competitiveness in e-commerce as younger shoppers increasingly move away from department stores. Gennette had previously stated that Bloomingdale’s, under Spring’s leadership, had served as a “scrappy incubator” for ideas that eventually made their way to Macy’s.

Mr. Bron has also worked for Galleries Lafayette and Bain & Company. Credit…Denis Guignebourg/Abaca, via Sipa USA, via Associated Press

Macy’s, the largest department store chain in the United States, has faced challenges as consumers tighten their spending amid persistent inflation. In its most recent quarterly earnings report, Macy’s stated that sales had decreased by 8 percent compared to the previous year. Bloomingdale’s, which caters to higher-income shoppers, was less affected but still experienced a 2.6 percent decline in sales.

Macy’s has also reported a “faster than expected” increase in credit card delinquencies.

During an earnings call on August 22, Gennette stated, “Over the last several quarters, we have seen the Macy’s customer more aggressively pull back on spend in our discretionary categories. They are not converting as easily and becoming more intentional on the allocation of their disposable income with an ongoing shift to services and experiences.”

Before joining Central and Robinson in 2021, Bron served as the chief operating officer of Galeries Lafayette, a French retail group. He also gained experience at the business consulting firm Bain & Company.

Spring commented, “His extensive international retail career and deep knowledge of the luxury market will be invaluable as we pursue additional opportunities.”

Jordyn Holman contributed reporting.

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