A new addition to the “Heirloom” collection, this one-of-a-kind piece features 32 custom-cut gemstones.
Sears, Macy’s Announce Even More Store Closings
The former will shutter 103 doors early this year while the latter has announced the location of 11 more stores it is shutting down.
New York--Sears and Macy’s are continuing to shrink.
After closing hundreds of stores last year, the two already have announced the shuttering of additional locations in the new year.
Sears Holdings said Jan. 4 that it plans to close 103 more locations--64 Kmart stores and 39 Sears stores.
They will close between early March and early April, with liquidation sales starting as early as Jan. 12.
Sears did not respond to an email request from National Jeweler Monday asking how many employees would be affected by the closures, but it did say in a press release that impacted eligible associates will receive severance and also will have the opportunity to apply for open positions at other stores.
A full list of the locations closing this spring can be found online.
The move is part of the retailer’s efforts to streamline operations and reduce operating expenses. The company closed more than 400 stores in fiscal 2017.
In its third quarter results announced at the end of November, Sears reported a net loss of $558 million, compared with a net loss of $748 million in the third quarter 2016. Revenues for the period were $3.7 billion, compared with $5 billion the year earlier, with store closures attributing to about half the decline. Comps were down 15 percent in the quarter.
Meanwhile, Macy’s is set to close 11 more stores in 2018 as part of a previously announced plan to trim its brick-and-mortar footprint by 100 total locations and cut back on costs in 2018. (The locations, undisclosed up to now, can be found in this release.)
The 11 closings brings it to 81 stores closed so far. The remaining 19 locations and date of closure have yet to be announced.
The retailer said it has shut down a total of 124 stores since 2015. The closures are expected to help the company save as much as $300 million in fiscal 2018 but also will result in about 5,000 job cuts.
Macy’s announced the locations of the 11 stores that are closing when it reported its holiday sales results.
Comps were up 1 percent year-over-year in the November-December period.
This follows a 4 percent decline in same-store sales and a 6 percent decline in total sales in its third quarter when compared with the year earlier.
The Latest
Last month in Dallas, David Walton pushed another jeweler, David Ettinger, who later died.
From now through mid-May, GIA will be offering the reports at a 50 percent discount.
With Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
De Beers’ rough diamond sales were down 18 percent year-over-year in its latest round of sales.
Sponsored by the Las Vegas Antique Jewelry & Watch Show
The Patek Philippe expert will serve as personal curator for the brand-focused company.
For over 30 years, JA has advocated for the industry, fought against harmful legislation and backed measures that help jewelry businesses.
The 553-square-foot shop is aboard the Carnival Jubilee cruise ship.
NDC filed a complaint against Skydiamond for use of phrases like “diamonds made entirely from the sky.”
John Carter received the AGS’s highest honor Tuesday afternoon at Conclave in Austin, Texas.
LVMH said the company performed well despite an uncertain geopolitical and economic environment.
It’s ultra-feminine and filled with gold, pearls, and soft pastels.
Emily Highet Morgan and Emily Bennett have joined the agency’s team.
Its updated book for mountings is also now available.
She has been with the organization since 2010, most recently serving as its chief officer of PR and industry relations.
Joyce’s Jewelry sued the bank after cybercriminals drained its accounts of nearly $1.6 million through a series of wire transfers.
He is remembered by loved ones for his loyalty, integrity, and kindness.
Hosted by Freeman’s | Hindman, the sale will take place May 7-8.
The auction house said all 24 timepieces offered in its underground sale of rare and avant-garde watches quickly found buyers.
From lab-grown diamonds and AI to the inevitable Taylor Swift mention, here are some of Conclave’s most intriguing educational offerings.
From cybersecurity liability to trade show coverage, insurance experts share tips on how to build the right policy.
The charm is a modern rendition of the evil eye amulet that has been worn for thousands of years.
Ahead of its trade show next month, TJS awarded free registration and accommodations to one jewelry professional and three students.
By the end of this year, SRK’s diamond manufacturing complexes will achieve net zero emissions, one of an impressive array of achievements.
Members can still sell lab-grown stones, it said, but only natural gems are allowed on the show floor.
He is remembered for his charisma, passion, integrity, kindness, and wit.