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Jewelry Drives Macy’s Sales Increase

Department was one of the chain’s strongest in the fourth quarter.
Mar 5, 2018 6:23 AM   By Rapaport News
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Macy’s sales increased in the fourth fiscal quarter, driven by a solid performance in several divisions, including fine jewelry, the company said last week.

Sales rose 1.8% year on year to $8.67 billion for the period ending February 3, while comparable-store sales — from branches open for at least a year, including licensed stores — grew 1.4%. Total sales fell 3.7% to $24.84 billion for the full fiscal year, while comparable-store sales dropped 1.9%.

The quarterly result was better than the retailer had expected, Macy’s chief financial officer Karen Hoguet said in a conference call with analysts, transcribed by Seeking Alpha.

“Our strongest families of business were fragrances, dresses, fine jewelry, men’s tailored clothing, coats, children’s, shoes and home textiles,” she noted.
Tags: fine jewelry, Jeffrey Gennette, Jewelry, Karen Hoguet, Macy’s, Rapaport News
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