While Gennette has his hands full turning around the entire corporation, including the Macy’s behemoth with 613 stores, Bloomingdale’s CEO Tony Spring is tasked with making good on Gennette’s luxury aspirations. The future vision of Bloomingdale’sSpring graciously provided a statement about the direction he foresees for Bloomingdale’s:“At Bloomingdale’s, luxury continues to be an important part of our offering, and we are excited by its current performance. As Macy’s richest legacy brand, though a much smaller sister company to Macy’s, Mirabile sees its independence as a separate brand key to its potential success. But that may be tricky, since the obvious place to look for new Bloomingdale’s customers is among those already shopping at Macy’s. And Macy’s brand at about $35.”Wide range of price pointsAnother plus in Bloomingdale’s column is its wide variance in price points, a quality shared by Nordstrom in the luxury space.

Source: Forbes September 06, 2020 09:00 UTC