Bloomingdale's Promotes Denise Magid to Chief Merchant

Rhea-AI Summary

Tony Spring, CEO of Bloomingdale's, announced the promotion of Denise Magid to Chief Merchandising Officer, effective March 21, 2023. This newly created role aims to enhance Bloomingdale's merchandising strategies and partnerships, driving the brand's future growth. The decision follows a successful 2022 performance and the company's 150th anniversary. Magid, who has a strong retail background from Saks Fifth Avenue and Intermix, expressed her enthusiasm about leading this transformative phase. Bloomingdale's, a division of Macy's (NYSE: M), operates 34 stores nationwide and has an international presence.

Positive

• Creation of Chief Merchandising Officer role provides strategic focus on merchandising.
• Denise Magid's promotion is expected to strengthen brand partnerships and product assortment.
• The move builds on 2022's strong performance and 150th Anniversary celebration.

Negative

• None.

CEO Tony Spring Announces New Leadership Role within the Organization

NEW YORK, March 22, 2023 /PRNewswire/ -- Tony Spring, Bloomingdale's Chairman and CEO today announced the promotion of Denise Magid to the newly created role of Bloomingdale's Chief Merchandising Officer, effective March 21, 2023. Within this position, Magid will drive the strategic direction and performance of all Bloomingdale's merchandising initiatives. She will be responsible for building and enhancing new and existing partnerships, expanding the brand matrix and product assortment, and ultimately influencing the future growth of the Bloomingdale's brand. Magid will report to Spring.

Bloomingdale's CEO Tony Spring Announces Promotion of Denise Magid to Chief Merchant

The creation of the Chief Merchant role is a historic step for Bloomingdale's and allows the brand to build on the exciting momentum coming off its strong 2022 performance and its 150^Th Anniversary celebration.

"We are confident that Denise's vision and leadership will continue to strengthen our relationships with our brand partners and further refine how we can cater to the unique needs of the Bloomingdale's customer. We look forward to Denise's impact in this newly created role," said Spring.

Magid is a well-respected retail executive, with a strong strategic headset and exceptional taste level. She brings extensive experience and a successful retail track record having held senior leadership roles at both Intermix and Saks Fifth Avenue, before joining Bloomingdales in 2019 as GMM, Ready-to-Wear, Concessions, adding Off-Price in 2020 and Women's accessories in 2021.

"It has been such an honor to be a part of the Bloomingdale's family throughout these transformative years," shared Magid. "I look forward to taking on the role of Chief Merchant and working closely with the GMMs and the Bloomingdale's team to push the boundaries of what's possible. Bloomingdale's holds a special place in the retail landscape, yet I truly believe the best is yet to come."

About Bloomingdale's

Bloomingdale's is America's only nationwide, full-line, upscale department store. A division of Macy's, Inc. (NYSE: M), it currently operates 34 Bloomingdale's stores, 20 Bloomingdale's The Outlet stores, and two Bloomie's stores in California, Connecticut, Florida, Georgia, Hawaii, Illinois, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Texas and Virginia. In addition, Bloomingdale's has an international presence with a location in Dubai and Kuwait. Founded in 1872, the iconic retailer celebrated its 150th anniversary in 2022. Be sure to follow @bloomingdales on social media, become a Loyallist, and for more information, or to shop any time, visit www.bloomingdales.com

CONTACT: Bloomingdales@finnpartners.com

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SOURCE Bloomingdale's

FAQ

What is the significance of Denise Magid's promotion at Bloomingdale's on March 21, 2023?

Denise Magid's promotion to Chief Merchandising Officer is significant as it creates a dedicated role to drive merchandising strategies and enhance partnerships for Bloomingdale's.

How does Denise Magid's experience benefit Bloomingdale's?

Denise Magid brings extensive retail expertise from Saks Fifth Avenue and Intermix, suggesting that her experience will positively impact Bloomingdale's merchandising initiatives.

What is Bloomingdale's strategy following the strong 2022 performance?

Following a strong 2022 performance, Bloomingdale's strategy focuses on enhancing its merchandising direction and expanding product offerings under the leadership of Denise Magid.

What role does the Chief Merchandising Officer play in Bloomingdale's operations?

The Chief Merchandising Officer at Bloomingdale's is responsible for the strategic direction of merchandising, building partnerships, and expanding product assortments.

What is the impact of Bloomingdale's 150th Anniversary on its business strategy?

Bloomingdale's 150th Anniversary has positioned the brand to leverage its heritage for future growth, as indicated by the creation of the new Chief Merchandising Officer role.