Macy’s Gains Steam as Saks Falls Into Bankruptcy, Reshaping Luxury Dept. Stores
Saks Global’s bankruptcy creates a window of opportunity for Macy’s and Bloomingdale’s, which have been outperforming the broader luxury‑retail downturn. As Saks’ struggles potentially divert inventory and customers, Macy’s turnaround—driven by tighter store footprints, stronger leadership under Tony Spring, and first-year sales growth that beat expectations—has momentum. Analysts say sustaining gains will hinge on fundamentals like customer service and inventory discipline, even as e‑commerce and the booming secondhand luxury market continue to reshape the department‑store model and Saks could still emerge from bankruptcy.
