Dive Brief:
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Macy’s on Monday tapped a longtime Bloomingdale’s merchant, Daniel Leppo, as senior vice president and general merchandising manager for men’s and kid’s.
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He replaces Sam Archibald and will report to Macy’s chief merchant Nata Dvir. Bloomingdale’s is exploring how to handle his departure, the company said by email.
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Leppo began his career as a Bloomingdale’s intern more than three decades ago and went through executive training there. He’s had various leadership positions at the luxury department store banner.
Dive Insight:
When Macy’s Inc. CEO Tony Spring took the reins last year the company was already dealing with a takeover battle that lasted until July. In February 2024, with the announcement that the company’s namesake banner would shutter 150 stores within three years, it seemed clear that downsizing Macy’s would be a major feature of its latest turnaround. But Macy’s is also plugging away at much-needed merchandising upgrades, at least at stores slated to remain.
The difference has been clear: Over the holiday quarter, comps at stores that will stay open after closures are complete fell 0.5%, and comps at stores that have merchandising and store upgrades rose 1.2%. Overall at the banner, net sales fell 5.3%, with comps down 0.9%.
Earlier this month, Adrian Mitchell, Macy’s Inc. chief operating officer and chief financial officer, told analysts that the company expects gross margins to expand as inventory control and merchandising improve. That entails “making sure that we're increasing the variety of items that customers actually want to buy, and this is through the manifestation of new brand introductions and things of that sort” as well as “reducing redundant styles across brands” and investing in newness, he said.
In a statement Monday, Dvir noted Leppo’s deep expertise in men's fashion and “strong industry partnerships.” The retailer also noted Leppo’s “passion for product and his strong vendor relationships.”
