The two organizations will host a joint event, “Converge,” in September 2025.
Macy’s Cutting Jobs After ‘Disappointing’ 2015
Macy’s Inc. is laying off thousands of employees following a “disappointing” year that ended with a 5 percent slide in same-store holiday sales.
New York--Macy’s Inc. is laying off thousands of employees following a “disappointing” 2015 that ended with a 5 percent slide in same-store holiday sales, while competitor J.C. Penney saw comps rise.
The retailer said late Wednesday that it is cutting about 3,000 associates at Macy’s and Bloomingdale’s stores nationwide (with about half of those expected to be placed in other positions), offering a “voluntary separation opportunity” for 165 senior executives, cutting 600 jobs in its back office, and closing its call center in St. Louis, affecting about 750 employees.
Also on Wednesday, Macy’s released the full list of the 40 stores it announced it was closing back in September.
Four of the 40 closings took place in the final three quarters of 2015. They were at the Owings Mills Mall in Owings, Md., Bedford, N.H., the Essex Green Shopping Center in West Orange, N.J. and in downtown Pittsburgh.
Going-out-of-business sales already have started, or will start by Monday, at the remaining 36 stores; a complete list of the stores Macy’s is shuttering is available on the investor section of the company’s website.
Macy’s saw same-store sales decrease 5 percent year-over-year in November and December, due in part to the unusually warm weather in the Northeast impacting outerwear sales. Chairman and CEO Terry Lundgren said that the company also was impacted by the strong U.S. dollar, which translates to lower spending by foreign tourists.
He called the holiday selling season “challenging.”
Where Macy’s and Bloomingdale’s did do well--and where the retailer is directing its resources going forward--is online. Lundgren said the number of online orders filled at Macys.com and Bloomingdales.com reached a record 17 million and was up 25 percent year-over-year.
J.C. Penney, meanwhile, reported a 4 percent increase in same-store sales over the same period last year.
CEO Marvin Ellison, who succeeded longtime CEO Myron Ullman III in August, said the focus on private brands and omnichannel execution helped boost holiday sales.
The retailer’s online sales reached record levels in November and December. The company filled online orders using in-store inventory from a total of 250 stores, and offered an in-store pickup option at more than 1,000 locations.
“We look forward to capitalizing on this digital progress through 2016,” Ellison said.
J.C. Penney is scheduled to release its full fourth quarter and fiscal year results Feb. 26.
The Latest
Big changes appear to be on the horizon for the diamond miner and its parent company, Anglo American.
Padis succeeds Lisa Bridge, marking the first time the organization has had two women board presidents in a row.
With Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
Jesse Cole, founder of Fans First Entertainment, shared the “five Es” of building a fan base during his AGS Conclave keynote.
The Royal Oak Perpetual Calendar "John Mayer" was celebrated at a star-studded party in LA last week.
The announcement came as the company reported a 23 percent drop in production in Q1.
For over 30 years, JA has advocated for the industry, fought against harmful legislation and backed measures that help jewelry businesses.
The three-time Pro Bowler continues to partner with the retailer, donating to a Detroit nonprofit and giving watches to fans.
A double-digit drop in the number of in-store crimes was offset by a jump in off-premises attacks, JSA’s 2023 crime report shows.
Inspired by the Roman goddess of love, the designer looked to the sea for her new collection.
The selected nine organizations have outlined their plans for the funds.
The mining company’s Diavik Diamond Mine lost four employees in a plane crash in January.
The crown introduced a dozen timepieces in Geneva, including a heavy metal version of its deep-sea divers’ watch.
Emmanuel Raheb recommends digging into demographic data, customizing your store’s communications, and retargeting ahead of May 12.
Located in the town of Queensbury, it features a dedicated bridal section and a Gabriel & Co. store-in-store.
A 203-carat diamond from the alluvial mine in Angola achieved the highest price.
Ruser was known for his figural jewelry with freshwater pearls and for his celebrity clientele.
The “Rebel Heart” campaign embodies rebellion, romance, and sensuality, the brand said.
Editor-in-Chief Michelle Graff shares the standout moments from the education sessions she attended in Austin last week.
The overhaul includes a new logo and enhanced digital marketplace.
The money will go toward supporting ongoing research and aftercare programs for childhood cancer survivors.
A new addition to the “Heirloom” collection, this one-of-a-kind piece features 32 custom-cut gemstones.
Last month in Dallas, David Walton pushed another jeweler, David Ettinger, who later died.
The move will allow the manufacturing company to offer a more “diverse and comprehensive” range of products.
From now through mid-May, GIA will be offering the reports at a 50 percent discount.
De Beers’ rough diamond sales were down 18 percent year-over-year in its latest round of sales.