NEW YORK (April 15, 2015) – Saks Fifth Avenue today announced that Tracy Margolies has been appointed Chief Merchant, Saks Fifth Avenue, effective May 11, 2015. An accomplished retail executive, Ms. Margolies will drive the strategic direction and performance of all buying activities for Saks. She will report to Marc Metrick, President of Saks Fifth Avenue.
"Tracy knows the Saks culture, has strong vendor partnerships and brings a built-in passion for the Saks brand. When the Chief Merchant position opened up at Saks I immediately thought of Tracy, and when I assumed my role as President she was my first call. I'm confident that she will help us elevate the brand and continue to drive our strategy forward," said Marc Metrick.
A widely respected merchant with deep experience in luxury retailing, Margolies rejoins Saks Fifth Avenue after serving as SVP, GMM, Beauty, Contemporary 5F, Footwear and Handbags at Bergdorf Goodman. Previously, Margolies spent seven years at Saks as VP, DMM, Women's Footwear where she worked closely with Metrick. She was instrumental in launching 10022-SHOE, widely viewed as one of the most innovative and successful merchandising initiatives in luxury retail.
Ms. Margolies said, "I'm thrilled to return to Saks Fifth Avenue, especially at such a pivotal time for the Company. I have a strong appreciation for the Saks brand and the opportunities that lie ahead. I am excited to partner with Marc again, and work with the team to shape the future for Saks."
ABOUT SAKS FIFTH AVENUE
Saks Fifth Avenue, one of the world's pre-eminent specialty retailers, is renowned for its superlative American and international designer collections, its expertly edited assortment of handbags, shoes, jewelry, cosmetics and gifts, and the first-rate fashion expertise and exemplary client service of its Associates. As part of the Hudson's Bay Company brand portfolio, Saks operates 39 full-line stores in 22 states, five international licensed stores, 79 Saks Fifth Avenue OFF 5TH stores and saks.com, the company's online store.
ABOUT HUDSONS BAY COMPANY
Hudson's Bay Company, founded in 1670, is North America's longest continually operated company. Today, HBC offers customers a range of retailing categories and shopping experiences primarily in the United States and Canada. Our leading banners – Hudson's Bay, Lord & Taylor, Saks Fifth Avenue and Saks OFF 5TH – offer a compelling assortment of apparel, accessories, shoes, beauty and home merchandise. Hudson's Bay is Canada's most prominent department store with 90 full-line locations, two outlet stores and thebay.com. Lord & Taylor operates 50 full-line locations primarily in the northeastern and mid-Atlantic U.S., four Lord & Taylor outlet locations and lordandtaylor.com. Saks Fifth Avenue, one of the world's pre-eminent luxury specialty retailers, comprises 39 U.S. stores, five international licensed stores and saks.com. OFF 5TH offers value-oriented merchandise through 79 U.S. stores and saksoff5th.com. Home Outfitters is Canada's largest kitchen, bed and bath specialty superstore with 67 locations. The Company also operates two Zellers clearance centers in Canada. Hudson's Bay Company trades on the Toronto Stock Exchange under the symbol "HBC".