Macy’s Bloomingdales wants Bluemercury to stay

Macy’s CEO Tony Spring does not support divesting his luxury brands Bloomingdale’s and Bloomingdale’s, despite calls from activist investors.

“We continue to believe there are beneficial synergies between the three brands, in warehousing, legal, finance, back-end operations and co-branding. We have a lot of opportunity to leverage the size of the portfolio,” Spring said Sunday at the National Retail Federations (NRF) 2025 Retail Expo conference in New York City. He said in an interview.

The company, which announced a new strategic turnaround plan called “A Bold New Phase” in February, has doubled down on the Bloomingdale’s and BloomMercury brands “as growth engines as part of our luxury sector,” Spring said.

How Mackey can turn around the business as a department store struggles

He also said the store experience could be better with a smaller portfolio within the Macy’s brand.

Regardless, Spring’s goal is to “provide to the public markets that this three-brand portfolio is more valuable than what we’re showing today.”

The most recent fiscal quarter, which ended Sept. 30, saw BlueMercury post its 15th straight quarter of growth in stores opening at least one year. Bloomingdale’s same-store sales “returned to positive” in the same quarter, the company said in a regulatory filing.

In December, Barrington Capital, Tor Equities LLC and their respective affiliates — all Macy’s shareholders — issued a report recommending that the retailer make changes to its capital allocation strategy and consider other structural measures to improve shareholder value.

Macia’s accelerates store closings this year.

Macy’s, which has long established itself as a major retailer, has struggled to keep up with rapid industry changes and constant competition, forcing the company to create a new strategic plan to return to “sustainable, profitable sales.”

Barrington Capital CEO Jim Mitarotonda told FOX Business that it would make sense to spin off Bloomingdale’s and Bloommercury and let them trade independently of Macy’s because they trade at higher multiples than their corporate parents.

“It is very important that the board of directors and the management team look at how they can maximize the value of the company’s owners and shareholders,” Mitarotonda previously told FOX Business.

Ticker	Security	last one	Change	change %
M	Machias Inc.	13.79	-0.23	-1.68%

He also suggested that Macy’s needs to renew its innovation by displaying more attractive products in stores and hosting exciting events. Attract the younger generations to her shops.

Part of the company’s strategy includes renovating 50 key stores, also known as the “First 50,” which are intended to serve as models for future Macy’s locations.

Get FOX BUSINESS on the go by clicking here

Macy’s plans to close about 150 “underperforming” stores by the end of 2026. The company is closing 66 Macy’s locations this year.