RapNet


Rapaport News

 

Retail

 

Advanced search
Latest Articles
Videos
Features
News
Mining
Rough Markets
Polished Markets
Manufacturing
Retail

Jewelry Bolsters J.C. Penney Sales

Sector stands out in retailer’s otherwise disappointing performance.
May 15, 2017 7:45 AM   By Rapaport News
Print Print Facebook Facebook Twitter Twitter Share Share
 

RAPAPORT...
J.C. Penney said jewelry was one of its stronger areas for sales 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 comparable sales for fine jewelry were positive — as they were for its home and salon departments and for its in-store branches of beauty retailer Sephora.

“Our fine-jewelry performance is a classic example of great alignment between the merchants and the stores,” chairman and CEO Marvin Ellison said in an earnings call last week. “The merchants have done an outstanding job of selecting inspiring products at a value, and the store team delivered outstanding product knowledge training and customer engagement.”

Group net sales declined 3.7% to $2.71 billion in the three months that ended April 29, the store chain said.

Meanwhile, Macy’s reported a 7.5% drop in sales to $5.34 billion for the quarter. Management was “encouraged” by pilot programs in fine jewelry, the department-store group said last week. However, fashion jewelry and watches had a weaker performance during the period, Macy’s chief financial officer Karen Hoguet said in an investor call Friday transcribed by Seeking Alpha.
Tags: fine jewelry, J.C. Penney, Jewelry, Karen Hoguet, Macy’s, Marvin Ellison, Rapaport News, retail, US, US retail
Similar Articles
NRF SeptemberUS Consumer Spending Dips
Oct 17, 2019
US retail sales stalled between Augustand September, indicating that consumer...
Former Zales Vice Chairman Marvin Zale Dies
Chow Tai Fook Sales Slump
Costco Sells $220,000 Diamond Ring
LightboxLightbox to Debut at Bloomingdale’s, Reeds
Oct 15, 2019
De Beers will partner with two major retailers topromote Lightbox,...
LVMH Jewelry and Watch Revenue Jumps
NRF Predicts Rise in Holiday Sales
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First



Call Us: 1-702-893-9400
Member License Agreement   RapNet Trading Rules & Code of Conduct    Privacy Policy  
  
twitter twitter
About Rapaport
Advertise with us