MajorsDec 23, 2025
Kering to Acquire Stake in Raselli Franco GroupMajorsJan 02, 2026
Marc Metrick Out as CEO of Saks Global
Executive Chairman Richard Baker will take over the role as rumors swirl that a bankruptcy filing is imminent for the troubled retailer.
A window installation at the Saks Fifth Avenue flagship in New York City from spring 2025 promoting the retailer’s new partnership with Amazon. On Friday, Saks Global announced the resignation of CEO Marc Metrick amid growing reports the company soon will file for Chapter 11 bankruptcy protection.
New York—Marc Metrick is stepping down as CEO of Saks Global amid growing reports that the retailer is expected to file for bankruptcy soon.
Saks announced the news Friday, stating that Metrick is leaving the company to “pursue new opportunities.”
Richard Baker will step in as CEO while also continuing to serve as executive chairman of Saks Global.
Metrick has been with Saks for 30 years, starting in the company’s executive training program after he graduated from Boston University in 1995.
He became CEO of Saks Global in December 2024, when the company completed its $2.7 billion acquisition of Neiman Marcus Group, creating a massive luxury department store conglomerate.
In a post on LinkedIn published Friday, the longtime retail executive reflected on his three decades with the retailer, writing, “I don’t know adulthood without Saks. I’ve lost parents, grandparents, I’ve gotten married, become a father, lost 120 pounds, gotten sober, and seen a ton of the world since I ‘met Saks.’
“As I’m going through the process of moving on, I’ve realized that, while I’ll miss the job and all the exciting stuff that comes with it, it’s the people I’ll miss most.”
Related stories will be right here …
Saks announced the news Friday, stating that Metrick is leaving the company to “pursue new opportunities.”
Richard Baker will step in as CEO while also continuing to serve as executive chairman of Saks Global.
Metrick has been with Saks for 30 years, starting in the company’s executive training program after he graduated from Boston University in 1995.
He became CEO of Saks Global in December 2024, when the company completed its $2.7 billion acquisition of Neiman Marcus Group, creating a massive luxury department store conglomerate.
In a post on LinkedIn published Friday, the longtime retail executive reflected on his three decades with the retailer, writing, “I don’t know adulthood without Saks. I’ve lost parents, grandparents, I’ve gotten married, become a father, lost 120 pounds, gotten sober, and seen a ton of the world since I ‘met Saks.’
“As I’m going through the process of moving on, I’ve realized that, while I’ll miss the job and all the exciting stuff that comes with it, it’s the people I’ll miss most.”
News of Metrick’s departure comes in the wake of numerous reports that Saks Global will file for bankruptcy soon.
The retailer is ladened with debt, has lost key executives and merchants, and continues to struggle to pay vendors, including many jewelry designers and brands.
Its inability to pay vendors on time has impacted the retailer’s selection of merchandise and in turn, its sales.
In an exclusive published Wednesday, The Wall Street Journal reported that the retailer would file for Chapter 11 bankruptcy “within days” after it failed to make debt payment on Tuesday.
Saks Global owns Saks Fifth Avenue and Saks Off Fifth stores, as well as Neiman Marcus, its off-price chain Last Call, and Bergdorf Goodman.
More on Majors
The Latest
TrendsFeb 17, 2026
A Bit of Jewelry for the Year of the HorseWestern wear continues to trend in the Year of the Fire Horse and along with it, horse and horseshoe motifs in jewelry.
SourcingFeb 17, 2026
Colored Gemstone Experts Talk Tariffs, Trends in TucsonAlthough the market is robust, tariffs and precious metal prices are impacting the industry, Stuart Robertson and Brecken Branstrator said.
GradingFeb 17, 2026
Dr. George Rossman, Former GIA Governor, Dies at 81Rossman, who advised GIA for more than 50 years, is remembered for his passion and dedication to the field of gemology.
Brought to you by
The MJSA Mentor & Apprenticeship Program: Attracting & Training the Next Generation of Bench JewelersLaunched in 2023, the program will help the passing of knowledge between generations and alleviate the shortage of bench jewelers.
CrimeFeb 13, 2026
JSA Offering $10K Reward in Nancy Guthrie Case Guthrie, the mother of “Today” show host Savannah Guthrie, was abducted just as the Tucson gem shows were starting.
Weekly QuizFeb 12, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
IndependentsFeb 13, 2026
97-Year-Old New Mexico Jewelry Store To CloseButterfield Jewelers in Albuquerque, New Mexico, is preparing to close as members of the Butterfield family head into retirement.
CollectionsFeb 13, 2026
A ‘Rosebud’ Necklace for Valentine’s DayPaul Morelli’s “Rosebud” necklace, our Piece of the Week, uses 18-karat rose, green, and white gold to turn the symbol of love into jewelry.
Brought to you by
How Jewelers Can Fight Back Against Cell JammersCriminals are using cell jammers to disable alarms, but new technology like JamAlert™ can stop them.
CollectionsFeb 12, 2026
British Museum Raises $5M to Keep Jewel Linked to Henry VIII, Katherine of AragonIt is believed the 24-karat heart-shaped enameled pendant was made for an event marking the betrothal of Princess Mary in 1518.
SourcingFeb 12, 2026
‘Cotton Candy’ Necklace, 35-Carat Kunzite Win 2025 ‘Buyer’s Choice’ AwardsThe AGTA Spectrum and Cutting Edge “Buyer’s Choice” award winners were announced at the Spectrum Awards Gala last week.
Events & AwardsFeb 12, 2026
Kering Opens Entries for 2026 Sustainability-Focused AwardThe “Kering Generation Award x Jewelry” returns for its second year with “Second Chance, First Choice” as its theme.
TrendsFeb 11, 2026
Halle Berry’s Retro Engagement Ring Is a Sapphire-Set StunnerSourced by For Future Reference Vintage, the yellow gold ring has a round center stone surrounded by step-cut sapphires.
MajorsFeb 11, 2026
Francesca’s Files for Chapter 11 Bankruptcy AgainThe clothing and accessories chain announced last month it would be closing all of its stores.
CollectionsFeb 11, 2026
Zales Turns Sweethearts Into Jewelry for Valentine’s Day CollectionThe “Zales x Sweethearts” collection features three mystery heart charms engraved with classic sayings seen on the Valentine’s Day candies.
TechnologyFeb 11, 2026
Gemvision Symposium 2026 Slated for AprilThe event will include panel discussions, hands-on demonstrations of new digital manufacturing tools, and a jewelry design contest.
Events & AwardsFeb 11, 2026
TJS Announces Roundtable, Launches New AppRegistration is now open for The Jewelry Symposium, set to take place in Detroit from May 16-19.
SourcingFeb 10, 2026
At Meeting in South Africa, Support for Natural Diamonds Picks Up Steam Namibia has formally signed the Luanda Accord, while two key industry organizations pledged to join the Natural Diamond Council.
TrendsFeb 10, 2026
Bad Bunny Wears Football-Shaped ‘Desert Diamond’ for Halftime PerformanceLady Gaga, Cardi B, and Karol G also went with diamond jewelry for Bad Bunny’s Super Bowl halftime show honoring Puerto Rico.
SurveysFeb 10, 2026
Shoppers to Spend Big on Jewelry This Valentine’s Day, Says NRFJewelry is expected to be the No. 1 gift this year in terms of dollars spent.
FinancialsFeb 10, 2026
Kering Plans Transformation as 2025 Sales Sink 13%As star brand Gucci continues to struggle, the luxury titan plans to announce a new roadmap to return to growth.
SourcingFeb 10, 2026
AGTA To Debut ‘Stuller Color of the Year’ Spectrum Awards CategoryThe new category asks entrants for “exceptional” interpretations of the supplier’s 2026 color of the year, which is “Signature Red.”
Policies & IssuesFeb 09, 2026
U.S., India Trade Deal One Step Closer to Being FinalizedThe White House issued an official statement on the deal, which will eliminate tariffs on loose natural diamonds and gemstones from India.
Events & AwardsFeb 09, 2026
JA Now Accepting Entries for 2026 CASE AwardsEntries for the jewelry design competition will be accepted through March 20.
IndependentsFeb 09, 2026
James Free Jewelers Unveils Revamped FlagshipThe Ohio jeweler’s new layout features a curated collection of brand boutiques to promote storytelling and host in-store events.
TrendsFeb 09, 2026
These 14 Jewels Will Melt Your Heart This Valentine’s DayFrom heart motifs to pink pearls, Valentine’s Day is filled with jewelry imbued with love.
CrimeFeb 06, 2026
Florida Man Sentenced After Selling Fake Native American Jewelry for a Decade Prosecutors say the man attended arts and craft fairs claiming he was a third-generation jeweler who was a member of the Pueblo tribe.
FinancialsFeb 06, 2026
Pandora’s North America GM Departs Amid Executive ChangesNew CEO Berta de Pablos-Barbier shared her priorities for the Danish jewelry company this year as part of its fourth-quarter results.
