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The Retail PilotLeaders & Legends with Ken Pilot Author: Ken Pilot
The Retail Pilot is a series of interviews conducted by Ken Pilot with Leaders and Legends of the Retail industry. Ken will focus the conversation on his guests career journeys and their greatest career accomplishments and disappointments; gather insight into their leadership styles; learn who inspired them as they progressed through their careers; identify brands they admire; discover challenges they have faced; and talk about where they think Retail is headed and how they are leveraging technology to get there. Hosted by Ausha. See ausha.co/privacy-policy for more information. Language: en Genres: Business, Management Contact email: Get it Feed URL: Get it iTunes ID: Get it |
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The Department Store Crisis: Terry Lundgren & Jan Rogers Kniffen on Saks Global Bankruptcy and What The Future Holds for Department Stores
Tuesday, 24 February, 2026
The department store industry just witnessed one of its most dramatic collapses. When Saks Global filed for bankruptcy in early 2026, it marked the end of an ambitious—but fatally flawed—attempt to merge two luxury retail icons. For Terry Lundgren, former Chairman and CEO of Macy's, and Jan Rogers Kniffen, one of retail's most respected strategists, the failure was inevitable. "Putting two very weak financially organizations together will not make anything other than one big financially weak organization," Lundgren warned before the deal even closed. In this episode of The Retail Pilot, host Ken Pilot brings together two industry veterans who've navigated mergers, bankruptcies, and retail transformation for decades. They reveal what killed Saks Global, why some department stores will survive while others won't, and what the retail landscape will look like in 2026 and beyond.In this episode you'll learn:Why the Saks Global and Neiman Marcus merger was "DOA" from the beginning and what red flags signaled the collapseHow Terry Lundgren successfully executed one of retail's most successful acquisitions: the May Department Stores deal that created a national Macy's footprintWhy department stores aren't broken—just overleveraged—and how the right balance sheet can save the modelThe "My Macy's" strategy: How localized assortments and 70 district buying teams drove billion-dollar growthThe marketplace opportunity: How third-party sellers can expand assortments without inventory riskWhy physical stores still matter and how to make them "fun" again with experiential retail, restaurants, and curated galleriesWalmart's dominance: How they're "firing on all cylinders" and taking market share from Target, Kohl's, and JCPenneyAmazon's retail store struggles and why they should "buy somebody that has stores and let them run it"The future in 10 years: Which department stores will survive (spoiler: Macy's, Bloomingdale's, Nordstrom, and Dillard's)What it takes to save Saks and Neiman Marcus: A "white knight with deep pockets" and a long-term visionThis episode is essential listening for retail operators managing consolidation and change, investors evaluating the department store sector, vendors navigating complex retail partnerships, and anyone seeking to understand the forces reshaping American retail from two executives who've been at the center of it all.Don’t forget to subscribe to The Retail Pilot podcast for more conversations with retail industry leaders and visionaries shaping the future of commerce.If you missed our last episode, where Lizanne Kindler, CEO of Knitwell Group, shares how she leads eight iconic fashion brands generating over $6 billion in revenue and successfully integrated three separate companies into one unified powerhouse, be sure to tune in.Connect with Ken:-Follow Ken Pilot Ventures on LinkedIn, Instagram, and YouTube.Hosted on Ausha. See ausha.co/privacy-policy for more information.
