Macy’s CEO Tony Spring isn’t in favor of spinning off its luxury brands Bluemercury and Bloomingdales, despite calls by activist investors to do so.
“We continue to believe that there are synergies that are leveraged between the three brands, between warehousing, legal, finance, back end operations and joint brand negotiation. There’s just so much opportunity for us to kind of leverage the scale of the portfolio,” Spring said Sunday during a discussion at the National Retail Federations (NRF) 2025 Retail’s Big Show conference in New York City.
The company, which announced a new strategic turnaround plan called “A Bold New Chapter” in February, “doubled down” on Bloomingdale’s and Bluemercury brands “as growth engines as a part of our luxury sector,” Spring said.
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He also said that the store experience could be better with a smaller portfolio within the Macy’s brand.
Regardless, Spring is aiming to “make the case to the public marketsthat this three-brand …