Pass it On: Saks President Marc Metrick on competition

NEW YORK (AP) — Saks Fifth Avenue President Marc Metrick has been reinventing the luxury chain's business since he took on the top role in April 2015.

At a time when shoppers can get luxury goods online, Metrick wants to bring theater to the stores and also make online shopping on its website. As part of the strategy, Saks is in the last phase of what Metrick calls a $250 million redevelopment of the storied Saks Fifth Avenue flagship in Manhattan just as luxury rivals Neiman Marcus and Nordstrom expand into the city. He's added a fancy Parisian restaurant import, and is dedicating the main floor to luxury purses staffed with handbag style advisers in addition to the sales associates.