Padis succeeds Lisa Bridge, marking the first time the organization has had two women board presidents in a row.
Macy’s disappointed with Jan. sales, blames weather
Same-store sales increased by only 1 percent in the fourth quarter for Macy’s Inc. despite a strong holiday season performance, the retailer reported Tuesday.
New York--Same-store sales increased by only 1 percent in the fourth quarter for Macy’s Inc. despite a strong holiday season performance, the retailer reported Tuesday.
Total sales hit $9.2 billion in the period ended Feb. 1, a 2 percent decrease from total sales of $9.35 billion reported in the year-earlier period.
The overall performance of the period was tepid when compared with the 4 percent increase in same-store and total sales that Macy’s reported for the November-December period.
“While we had expected a sales decline in January because of the calendar shift, the month was down further than we had expected and we are very disappointed with sales performance in January. In part, poor January sales were due to the unusually harsh winter weather across much of the country,” said Terry J. Lundgren, chairman, president and chief executive officer of Macy’s Inc.
He added that 244 Macy’s and Bloomingdale’s stores were closed at some point in January because of weather, and that business remained sluggish until Valentine’s Day.
RELATED CONTENT: Holiday comps up but Macy’s laying off thousands
The full-year outcome was better for the company, however. For fiscal 2013, comps were up 2 percent, while total sales were up 1 percent to $27.93 billion.
“Macy’s Inc. had a strong year in 2013, and we are proud of the continued improvement in our ability to serve evolving customer needs at Macy’s and Bloomingdale’s,” Lundgren said. “This was our fifth consecutive year of double-digit growth in earnings per share and our fourth consecutive year of comparable sales growth. In fact, our total sales have grown by more than $4.4 billion in the past four years.”
During the year, Macy’s opened six stores and closed seven.
For fiscal 2014, the retailer expects comps to be up in the range of 2.5 percent to 3 percent.
New Macy’s stores are slated to open in Sarasota, Fla., Las Vegas, and Bronx, N.Y. this year, and a new Bloomingdale’s is set to open in Palo Alto, Calif., to replace an older store in the same shopping center.
The Latest
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.
With Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
The announcement came as the company reported a 23 percent drop in production in Q1.
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.
For over 30 years, JA has advocated for the industry, fought against harmful legislation and backed measures that help jewelry businesses.
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.
Sponsored by the Las Vegas Antique Jewelry & Watch Show
The Patek Philippe expert will serve as personal curator for the brand-focused company.