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Jewelry Strong for J.C. Penney, Macy’s
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Two of the top US department stores noted strong jewelry sales in the second fiscal quarter, even as their overall results were disappointing.J.C. Penney and Macy’s both expressed intentions to invest further in improving their jewelry...
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Retail
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Aug 20, 2019
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Rapaport News
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Jewelry Shines for Macy’s, J.C. Penney
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Macy’s and J.C. Penney noted strong sales in their jewelrydivisions in the first fiscal quarter, even as overall results showed a downward trend. “Our fine-jewelry business continues to deliver strong salesresults,” J.C. Penney chief financial...
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Retail
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May 22, 2019
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Rapaport News
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Macy’s Hires Supply Officer
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Macy’s has named Dennis Mullahy chief supply officer, a role in which he will oversee everything involved in getting products to the shelves.He will supervise all aspects of supply, including globalsourcing, inventory management, store and e-commerce...
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Retail
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Apr 02, 2019
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Rapaport News
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Jewelry a Top Seller at Macy’s, J.C. Penney
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Macy’s and J.C. Penney noted strong sales in their jewelry divisions in the fourth fiscal quarter, even as overall results disappointed.Macy’s also said it would implement a new strategy to focus on the category, as well as other products...
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Retail
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Feb 28, 2019
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Rapaport News
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Fine Jewelry a Bright Spot for Macy’s
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Macy’s noted strong sales of higher-end jewelry during theholiday season, though lower-priced items were weaker. Fine jewelry was one of seven categories the retailerhighlighted for their positive performances during November and December.However,...
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Retail
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Jan 10, 2019
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Rapaport News
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Synthetics Maker WD Gets Cash Injection
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Private-equity firm Huron Capital has made a “significant”investment in WD Lab Grown Diamonds, forecasting sharp growth for the companyand the synthetics sector. The injection of funds will help WD expand its capacity toproduce lab-grown diamonds...
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Financial-Legal
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Jan 08, 2019
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Rapaport News
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Personalizing Can Give Stores an Edge
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In the retail industry, “The customer is always right” haslong been the motto. This drive to please consumers means businesses areconstantly in search of new and inventive ways to make them happy. But where dothey start?...
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Retail
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Jan 01, 2019
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Leah Meirovich
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Roberto Coin Jade Line Pulled from Macy’s
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Macy’s has removed a collection of Roberto Coin black-jadejewelry from its shelves following allegations the line bears unlawful gemcertification. Natural-stone supplier Kings Stone, which made the claimsthat prompted Macy’s move in April, filed...
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Financial-Legal
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Dec 31, 2018
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Leah Meirovich
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Top 10 Stories of 2018: A Year of Synthetics
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This was the year in which synthetic diamonds wentmainstream. De Beers launched its Lightbox brand, the US Federal TradeCommission (FTC) relaxed its rules for describing lab-grown diamonds, andthe likes of Macy’s and JCPenney started...
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Polished Markets
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Dec 18, 2018
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Joshua Freedman
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US Retail Sales Up in July, Says NRF
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US retail sales increased in July, as consumers continued tospend despite fears over the escalating trade war. Total purchases — excluding automobiles, gasoline andrestaurants — rose 0.4% over June sales and 4.9% year on year, accordingto...
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Retail
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Aug 19, 2018
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Rapaport News
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US Retailers See Robust Jewelry Results
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Jewelry sales were strong at Macy’s and J.C. Penney in thefirst fiscal quarter, the companies said. “Fine jewelry was a standout performer, including ourproprietary Star Signature Diamond Collection,” Macy’s CEO Jeffrey Gennettesaid last...
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Retail
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May 21, 2018
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Rapaport News
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Pandora to Focus on E-Commerce
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Pandora has hired Karl Walsh as its senior vice president ofglobal e-commerce in an effort to improve online sales and customer experience. Walsh (pictured), who has previously worked atAccenture and McKinsey, will be responsible for...
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Retail
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Mar 15, 2018
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Rapaport News
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What We Know About Nirav Modi’s US Companies
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The $2 billion fraud allegations against Indian jewelrytycoon Nirav Modi and Gitanjali Gems chief Mehul Choksi have shocked theindustry, as well as raising questions about the wider impact on the trade.One of the first casualties...
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Financial-Legal
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Mar 07, 2018
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Joshua Freedman
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Jewelry Drives Macy’s Sales Increase
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Macy’s sales increased in the fourth fiscal quarter, drivenby a solid performance in several divisions, including fine jewelry, thecompany said last week. Sales rose 1.8% year on year to $8.67 billion for the periodending February...
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Retail
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Mar 05, 2018
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Rapaport News
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Kohl’s, Target See Positive Holiday Season
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Kohl’s and Target both reported sales growth during the holiday season, continuing the positive trend seen in the US retail sector this year. Kohl’s reported a 6.9% year on year rise in total sales, with...
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Retail
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Jan 10, 2018
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Rapaport News
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J.C. Penney’s Holiday Sales Jump
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J.C. Penney saw a 3.4% increase in comparable-store sales — those at branches open forat least a year — during the holiday period, led primarily by strongperformances in the home, beauty and fine-jewelry sectors.The figures were for the...
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Retail
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Jan 07, 2018
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Rapaport News
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Five Takeaways from the Stock Market in 2017
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In a year of soaring stock prices, US retail shares largely underperformed in 2017 as consumers (and investors) abandoned traditional shopping channels in favor of e-commerce platforms. As a result, familiar names such as J.C. Penney, Macy’s and Signet Jewelers slipped...
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Retail
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Jan 01, 2018
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Joshua Freedman
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Online Sales Surge on Black Friday
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Online spending hit record levels on Black Friday, whilerobust sales at brick-and-mortar retailers indicated the shopping bonanza’straditional side is not dead yet. US e-commerce sales jumped 17% to $5.03 billion on Friday,according to Adobe Digital Insights, a data...
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Retail
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Nov 26, 2017
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Rapaport News
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Macy’s Jewelry Upgrade Lifts Sales
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Macy’s jewelry sales grew by a double-digitpercentage in the second quarter, following a decision to raise the quality of itsproducts, the retailer said.The strategy resulted in higher revenueacross both its jewelry and watch businesses, the department-store chain...
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Retail
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Aug 14, 2017
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Rapaport News
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Jewelry Bolsters J.C. Penney Sales
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J.C. Penney said jewelry was one of its stronger areas forsales in the first fiscal quarter, even as the retailer’s overall revenue fell.While the company did not release figures for the division,it said...
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Retail
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May 15, 2017
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Rapaport News
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