Retail News

Saks digital chief says spinoff gives it room to focus

CNBC 12/13/2021

Marc Metrick, CEO of Saks Fifth Avenue, said the decision to split off the retailer’s digital from its physical operations will free up the companies to focus on what’s most important. Mr. Metrick, who is slated to lead the digital unit, said, “A traditional department store has to look at ‘What’s the business doing right now? What’s it doing today?’ Instead of spending capital investing in your physical plants, you’re spending on marketing, investing in the future of your customers. And it’s a much better way to grow the business long term.”

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