Tony Spring
Chairman and chief executive of Macy's, Inc.
Tony Spring is the chairman and chief executive of Macy's, Inc., the largest US department store group, which owns Macy's, Bloomingdale's and Bluemercury. A Bloomingdale's veteran who ran that chain before taking charge of the whole group in February 2024, he is leading a plan to shrink the Macy's store fleet and invest in luxury and stronger locations.
| Role | Chairman and chief executive, Macy's, Inc. |
|---|---|
| Chief executive since | February 2024 |
| Predecessor | Jeff Gennette |
| Previously | Chairman and chief executive, Bloomingdale's |
| Group brands | Macy's, Bloomingdale's, Bluemercury |
Who is Tony Spring?
Tony Spring is an American retail executive and the chairman and chief executive of Macy's, Inc., the group behind Macy's, Bloomingdale's and the beauty retailer Bluemercury. He spent most of his career at Bloomingdale's, the group's upscale department store chain, before succeeding Jeff Gennette as chief executive of the whole company. Together the three brands span mass market department stores, upscale department stores and specialist beauty retail.
Career
Spring built his career at Bloomingdale's, working his way up through merchandising and management roles over several decades. He became chairman and chief executive of Bloomingdale's in 2014 and led the chain through the growth of online shopping and the pandemic. In 2023 Macy's named him as Gennette's successor, and he took over as chief executive in February 2024. According to the company's annual report, he has been chief executive and chairman of the board of Macy's, Inc. since 2024.
His first months in the role coincided with an unsolicited takeover approach. Arkhouse Management and Brigade Capital Management made a 5.8 billion dollar offer in late 2023 and raised it to 6.6 billion dollars in March 2024; Macy's rejected both proposals and pursued its own plan.
Influence on the fashion business
In February 2024 Macy's announced a strategy branded A Bold New Chapter, which centres on a smaller and stronger store network. Its main elements include:
- Closing around 150 underperforming Macy's stores by 2026
- Investing in the remaining stores, staffing and presentation
- Expanding the more profitable Bloomingdale's and Bluemercury businesses
- Improving the edit of brands and private labels in Macy's stores
For fashion brands, Macy's is one of the largest wholesale customers in the United States, so changes to its store count, assortment and buying strategy have a direct effect on suppliers across apparel, footwear, accessories and beauty.
Why it matters
American department stores have faced years of pressure from e-commerce, off price retail and changing mall traffic. As head of the largest US department store group, Spring is attempting one of the most significant reshapings of the format in recent years. The outcome of his plan will influence how brands think about department store wholesale in the United States, and whether a smaller, more focused Macy's can regain growth while Bloomingdale's and Bluemercury expand.
Frequently asked questions
Who is the CEO of Macy's?
Tony Spring has been chief executive of Macy's, Inc. since February 2024 and also chairs its board. He previously led Bloomingdale's as chairman and chief executive.
What is Macy's Bold New Chapter strategy?
Announced in February 2024 under Tony Spring, it plans to close around 150 underperforming Macy's stores by 2026 while investing in the remaining stores and expanding Bloomingdale's and Bluemercury.