Dive Brief:
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Saks Fifth Avenue Thursday announced that Tracy Margolies was returning to the company to be chief merchant effective May 11.
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Margolies most recently spent more than two years at Bergdorf Goodman as SVP and GMM of footwear, handbags, beauty and Contemporary 5F. She had spent another seven years before that as VP and DMM of women’s footwear at Saks.
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She’ll report to Marc Metrick, who became president April 2 when Marigay McKee stepped down from that position after just a little over a year on the job.
Dive Insight:
Saks is working on recapturing its old magic as an iconic American luxury department store, so it’s balancing needed change with a return to the past. In Marigay McKee, the company had tapped an outsider who helped turn around upscale U.K. department store Harrods with some bold moves. Now, bringing Margolies back is something of a reversal, as she is someone who has gained much of her retail experience at Saks itself.