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
CollectionsJul 09, 2026
Boucheron’s New High Jewelry Collection Is an Ode to the Human Touch“Human Being” highlights the similarities and differences between us through five sets of jewelry that celebrate fine craftsmanship.
WatchesJul 09, 2026
Damiani Group Finalizes Acquisition of Baume & MercierRichemont will continue to provide operational services for the watch brand for a period while the group prepares to integrate it.
AuctionsJul 09, 2026
Pharrell Williams’ Joopiter Hires Former Bonhams Exec to Head New Watch DivisionNate Borgelt will lead the digital auction house and content platform’s new division as head of watches.
Brought to you by
Wedding Band Trends 2026: Personalization Takes Center StageColored gemstones, artisan finishes, mixed metals, and meaningful details are shaping demand in bridal jewelry.
Events & AwardsJul 09, 2026
Halstead Names 2026 Grant WinnerEnoch Platero, founder and designer behind Enoch Michael, is the first Native American jeweler to win the award.
Weekly QuizJul 01, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Events & AwardsJul 09, 2026
AGS, GIA Name 2026 Beatrice Shipley Scholarship WinnerAGS also announced the recipient of its “Women in Leadership” scholarship.
SurveysJul 08, 2026
Signet Jewelers Falls 5 Spots on NRF’s ‘Top 100’ Retailers ListPlus, why retailers should be ready to adjust as the U.S. population may decline this year for the first time since the Great Depression.
Brought to you by
Building the Future of Jewelry Retail: DCA Expands Education, Leadership Development, and Workforce SolutionsDCA is preparing the next generation of professionals by supporting workforce development, leadership growth, and career advancement.
CrimeJul 08, 2026
Here’s What Thieves Stole From the Lalique Museum René Lalique’s “Woman Dragonfly With Open Wings” pendant, the first piece the museum acquired, was one of the jewels taken.
ColumnistsJul 07, 2026
Peter Smith: Diamond Branding and the Origin ParadoxA podcast prompted Smith to share his views on where origin fits into the natural diamond story and the viability of branded diamonds.
Events & AwardsJul 07, 2026
JA Announces 2026 Impact Initiative RecipientsThe association selected eight recipients for the funding program, which is in its second year.
TrendsJul 07, 2026
Amanda’s Style File: Ruby, White and Blue Whether celebrating America’s 250th birthday or the USA’s World Cup run, July birthstone jewelry can double as a patriotic accessory.
CrimeJul 07, 2026
Thieves Steal Millions in Jewels From France’s Musée LaliqueAround 20 pieces of jewelry were stolen from the museum dedicated to French jeweler and glassmaker René Lalique.
CollectionsJul 07, 2026
Robinson Pelham Is Partying Like It’s 1996The “Summer of ’96” campaign and collection celebrate the year the brand was founded for its 30th anniversary.
SourcingJul 06, 2026
Gemfields CEO Sean Gilbertson Steps DownAfter eight years, Gilbertson is leaving his post at the mining company, which is currently facing a slew of operational challenges.
IndependentsJul 06, 2026
Bachendorf’s To Open Fifth Store In DallasThe new location is set to open this winter, featuring the retailer’s first rotating jewelry designer residency.
MajorsJul 06, 2026
Graff Names BTS Star Jung Kook as New AmbassadorThe pop artist appears in the latest campaign for the “Laurence Graff Signature” collection.
CollectionsJul 06, 2026
Pandora’s New Baroque Pearl Collection Is a Whimsical ‘Wonder’One-of-a-kind pearls take the shape of ice cream cones, frogs, submarines, and other imaginative charms.
SourcingJul 02, 2026
London Diamond Bourse Elects First Female PresidentCharlotte Rose said her election is “a sign that this is an industry capable of change.”
Supplier BulletinJul 02, 2026
Elevating Retail Showcases with Today's Necklace & Bracelet TrendsSponsored by Rio Grande Jewelry Supply
TrendsJul 02, 2026
Oscar Heyman’s Flag Brooch Celebrates AmericaThe American jewelry house, founded by Latvian immigrants, has been creating American flag brooches since 1917.
IndependentsJul 02, 2026
D. Geller & Son Partners with KSU Art Students on Store MuralThe artwork celebrates the Atlanta jeweler’s legacy and symbolizes its commitment to supporting local artists and its community.
Events & AwardsJul 02, 2026
Stratus Estate Buyers Offers Jewelers Turnkey Buying EventsIts team can evaluate jewelry and watches, as well as luxury handbags, artwork, and collectibles.
SurveysJul 01, 2026
Consumer Confidence Ticks Up in JuneFalling oil prices were a factor in the slight month-over-month improvement.
CollectionsJul 01, 2026
Rio Grande Launches First Finished Bridal CollectionThe new offering comprises more than 120 bridal and engagement ring styles with natural and lab-grown diamonds.
WatchesJul 01, 2026
Rolex Unveils Clock at Rockefeller CenterThe clock is part of the celebration for the soon-to-open Rolex headquarters on New York City’s Fifth Avenue.
IndependentsJul 01, 2026
Kristen Cannon of Valobra Master Jewelers Dies at 49The public relations professional is remembered for her benevolent generosity and unwavering commitment to those around her.
