Macy’s named Olivier Bron the next chief executive of Bloomingdale’s, the company’s luxury chain, on Tuesday, the latest move in a leadership shuffle this year.
Mr. Bron was previously chief executive of Central Group’s Central and Robinson Department Stores in Thailand. He will start in November, succeeding Tony Spring. Macy’s announced this year that Mr. Spring would be elevated to chief executive of Macy’s in February after the planned retirement of Jeff Gennette, who has led the company since 2017.
Macy’s has ambitions to become more competitive in e-commerce as younger shoppers pull away from department stores. Mr. Gennette previously said Bloomingdale’s, under Mr. Spring, had worked as a “scrappy incubator” for ideas that eventually made their way to Macy’s.
Macy’s, the largest department store chain in the United States, has been feeling pressure as consumers increasingly tighten their purse strings amid stubborn inflation. In its most recent quarterly earnings report, Macy’s said sales had dropped 8 percent from a year earlier. Bloomingdale’s, which targets higher-earning shoppers, was less affected but still reported a 2.6 percent decline in sales.
Macy’s also reported a “faster than expected” rise in credit card delinquencies.
“Over the last several quarters, we have seen the Macy’s customer more aggressively pull back on spend in our discretionary categories,” Mr. Gennette told analysts in an Aug. 22 earnings call. “They are not converting as easily and becoming more intentional on the allocation of their disposable income with an ongoing shift to services and experiences.”
Before joining Central and Robinson in 2021, Mr. Bron was chief operating officer of Galeries Lafayette, a French retail group. He has also worked at the business consulting firm Bain & Company.
“His extensive international retail career and deep knowledge of the luxury market will be invaluable as we pursue additional opportunities,” Mr. Spring said in a statement.
Jordyn Holman contributed reporting.