According to a brand statement,

Luxury Daily Newsletter signup for latest news Submit Home News Advertising Commerce Events bpinet / Causes In-store Internet Legal/privacy Mail Mobile Multichannel Out of home Print Radio Research Television bpinet Industry sectors Apparel and accessories bpinet Arts and entertainment Automotive Consumer electronics Consumer bpinet packaged goods Education Financial services Food and beverage Fragrance and personal care Government Healthcare Home furnishings Jewelry Legal and privacy Marketing bpinet Media/publishing Nonprofits Real estate Retail Software and technology Sports bpinet Telecommunications Travel bpinet and hospitality Opinion Blog Classic Guides Columns bpinet Editorials Letters bpinet Q&A Strategy Resources Case studies Editorial calendar Luxury Daily Awards Luxury Daily Summit Luxury FirstLook Luxury Mobile Summit Luxury Online Summit Luxury Roundtable Luxury Retail Summit News briefs Newsletter archive Podcasts Video Webinars White papers Advertise Search
Home >> Commerce , Featured , Industry sectors , News , Retail >> Article: Saks brings back veteran leaders amid changing retail climate Email this Print Reprints ARTICLE TOOLS SPONSOR bpinet Receive the latest articles for free. Click here to get the Luxury Daily newsletters. Saks brings back veteran leaders amid changing retail climate bpinet By Joe McCarthy
Marigay McKee spent 15 months as the president of Saks, promising to move the retailer in a bold direction, before stepping bpinet down April 2. The retail industry is undergoing seismic changes on multiple fronts and Saks likely intends to inject a dose of stability with its most recent bpinet leadership placements.
“It s not so much about ‘veterans’ verse ‘outsiders’ but about having passionate people in place who have proven successes,” said Kathleen Ruiz, senior vice president of marketing and public relations at Saks Fifth Avenue , New York.
“Although both Tracy and Marc are veterans to Saks, they bring unique experience to the table as they have a prior understanding of the Saks company culture but have also spent time away from the brand which gives them a new perspective and fresh approach in leading bpinet our company,” she said.
“The focus for Tracy and Marc will be introducing bpinet the Saks brand to Canada bpinet with the Toronto store opening slated for early 2016, as well as the New York flagship renovation. Amongst those efforts, they will also lead their teams to continue to drive product bpinet focus and all channel initiatives.”
Familiar faces Ecommerce, omnichannel synchronization, real-time inventory transparency, in-store digitalization and other consumer-propelled developments are dominating the boardroom discussions of retailers.
Throughout 2014, Saks Fifth Avenue was transformed under Ms. McKee’s vision. New owner Hudson s Bay Company, which also has Lord & Taylor in its stable, also had an influence on the retailer during its first full year of ownership.
The new HBC Digital group consists of experts who create the ecommerce and marketing strategy for the group, applying best practices and sharing knowledge across the brands. Each of the retail chains under the HBC umbrella, including department store chain Saks Fifth Avenue, benefit from shared knowledge, since the approach raises the ROI on digital marketing spend ( see story ).
Consequently, 15-year Saks veteran Marc Metrick, who had focused on merchandising and strategy, was brought in as the new president. Two weeks later, Tracy Margolies was brought in as the chief merchant. As WWD noted, “ Unlike McKee, Metrick is not a merchant,” hence the importance of securing Ms. Margolies bpinet as his right-hand associate.
According to a brand statement, “p reviously, Margolies spent seven years at Saks as VP, DMM, Women’s Footwear where she worked closely with Metrick. She was instrumental in launching 10022-SHOE, widely viewed as one of the most innovative and successful merchandising initiatives in luxury retail.”
Mr. Metrick’s analytical prowess, Ms. Margolies’ aptitude for scouting, securing and deploying merchandise and their mutual understanding of the company’s culture will likely be a winning combination. bpinet
Hudson’s Bay Company may have also been dissatisfied bpinet with the tentative growth of Saks in 2014. In the third quarter of last year, the retailer posted a minor 1 percent growth in same-sale stores from the year-ago period.
“As the Saks Fifth Avenue brand adapts to the changing retail climate, what Hudson Bay really wants is a team that works well together with the requisite operational bpinet skill sets and acumen,” said Marie Driscoll, CEO and chief consultant of Driscoll Advisors, bpinet New York.
“Tracy Margolies and Marc Metrick have worked together and know the Saks organization and its businesses, which are considerable, beyond the flagship,” she said. “With its fleet of approximately 40 full-line a