Nordstrom, Bloomingdale's Poised to Gain From Saks Global's Woes

As Saks Global sputters, $700 million in luxury market share is up for grabs, with Nordstrom and Bloomingdale's best positioned to capitalize.

Published on Feb. 28, 2026

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The death of the luxury department store has been greatly exaggerated; it's the death of the disconnected retailer Saks Global became that we're witnessing. With Saks Global's 70-store portfolio contracting through bankruptcy, analysts estimate approximately $700 million in market share is now up for grabs. Nordstrom and Bloomingdale's, which have emphasized service, loyalty, and a tight feedback loop between digital and stores, are poised to benefit the most, with Nordstrom holding the biggest customer overlap at 25% and Bloomingdale's at 22%.

Why it matters

The Saks Global bankruptcy highlights the challenges facing traditional luxury department stores as they struggle to adapt to changing consumer preferences and the rise of e-commerce. This presents an opportunity for more nimble and customer-focused retailers like Nordstrom and Bloomingdale's to gain market share and solidify their positions in the luxury retail landscape.

The details

Several months before the Saks Global bankruptcy filing, Saks Fifth Avenue sales fell 16% year-over-year at the end of Q2 2025, with June alone down 28%. In the same period, Bloomingdale's and Nordstrom each grew more than 10%, with Bloomingdale's posting a 13% gain in June alone. Nordstrom has long emphasized service, loyalty, and a tight feedback loop between digital and stores, supported by leaders who still behave like merchants. Meanwhile, Macy's, which owns Bloomingdale's and Bluemercury, has been more disciplined on vendor terms, less reliant on consignment structures, and faster to lean into online marketplace models.

  • In late 2023 and July 2024, Arkhouse Management and Brigade Capital made a series of escalating bids to take Macy's private, but the Macy's board rejected every offer.
  • In December 2025, Macy's stock was up more than 30% YTD, and Bloomingdale's reported an 8.6% increase in net sales for Q3 2025, its fifth consecutive quarter of comparable sales growth and the strongest performance in 13 quarters.

The players

Nordstrom

An American luxury department store chain that has emphasized service, loyalty, and a tight feedback loop between digital and stores, making it well-positioned to capitalize on Saks Global's woes.

Bloomingdale's

A luxury department store chain owned by Macy's, Inc. that has been more disciplined on vendor terms, less reliant on consignment structures, and faster to lean into online marketplace models, allowing it to outperform Saks Global.

Macy's, Inc.

The parent company of Bloomingdale's and Bluemercury, which has been more strategic in its approach to luxury retail compared to Saks Global's missteps.

Tony Spring

The chairman and CEO of Macy's, Inc. who has led the company's turnaround and strategic investments in Bloomingdale's and Bluemercury.

Geoffroy van Raemdonck

The new Saks Global CEO and former Neiman Marcus Group CEO who was brought back to clean up the mess left by his predecessors.

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What they’re saying

“Nordstrom's doing a better job, in my opinion, just as a consumer. It's a little bit more polished, a little more aspirational. I think it's higher end than I feel like Neiman's is, in my mind, between the two.”

— Lindsay Nahmiache, CEO of Veriphy Skincare (Forbes)

“Tony Spring's doing a great job at Macy's, he's reinventing the brand, he's got his 150. You don't have to be this corporate raider to do this.”

— Bob Phibbs, CEO of The Retail Doctor (Forbes)

What’s next

The judge in the Saks Global bankruptcy case will decide on Tuesday whether or not to allow the company to access a $300 million financing tranche, which could be crucial to its restructuring efforts.

The takeaway

The Saks Global bankruptcy highlights the need for luxury retailers to focus on customer experience, brand loyalty, and strategic partnerships rather than relying on real estate plays and financial engineering. Nordstrom and Bloomingdale's, with their emphasis on service and a tight feedback loop between digital and stores, are well-positioned to capitalize on Saks Global's missteps and gain market share in the luxury retail landscape.