What: The new group CEO at Macy’s believes that Bloomingdale’s will be supporting the group’s growth in the coming years.

Why this is important: Bloomingdale’s and Macy’s are going to differentiate even further to widen their customer base.

The incoming CEO of Macy’s, Tony Spring, alongside the current CEO, Jeff Gennette, revealed that the company is capitalizing on the success of its brands, including Bloomingdale’s and luxury beauty store Bluemercury.

Spring, set to replace Gennette in February, has led Bloomingdale’s since 2014 and believes in the importance of product curation and improving customer experience. He emphasized Bloomingdale's as a growth vehicle without sidelining Macy's, as both cater to different customer bases.

Macy's announced plans to expand its "small-format store strategy", increasing the presence of smaller Macy's and Bloomingdale’s outlets, given the success of the smaller Bloomingdale's branches termed "Bloomie's". Gennette highlighted Macy’s strength in holiday retail, noting beauty and gifts account for over 40% of Q4 sales.

They have already initiated strategies for the next holiday season, confident in their holiday marketing approaches.

New Macy’s CEO Tony Spring interview