Rapaport News




Advanced search
Latest Articles
Rough Markets
Polished Markets

Fine Jewelry a Bright Spot for Macy’s

Higher-end products outperformed fashion categories in overall weak holiday.
Jan 10, 2019 10:55 AM   By Rapaport News
Print Print Facebook Facebook Twitter Twitter Share Share

RAPAPORT... Macy’s noted strong sales of higher-end jewelry during the holiday season, though lower-priced items were weaker.

Fine jewelry was one of seven categories the retailer highlighted for their positive performances during November and December. However, sales of fashion jewelry and fashion watches missed expectations, it added in the holiday-sales update Thursday.

The department store lowered its full-year outlook for group sales and earnings as growth was slower than it had anticipated. Macy’s comparable-store sales increased 0.7% at the stores it owns, and rose 1.1% at all branches, including licensed ones. Its stock fell 19% in early trading Thursday.

“The holiday season began strong, particularly during Black Friday and the following Cyber Week, but weakened in the mid-December period and did not return to expected patterns until the week of Christmas,” said Macy’s chairman and CEO Jeff Gennette.

Image: A Macy’s store in Rancho Cucamonga, California. (Macy’s)
Tags: Fashion jewelry, fine jewelry, holidays, jeff gennette, Macy’s, Rapaport News, retail, sales
Similar Articles
Adobe Black Friday 150Black Friday Online Sales Reach Record High
Nov 29, 2020
US e-commerce sales hit an all-time high for Black Friday this...
Luk Fook Eyes China Expansion
Diwali Sales Shine as ‘Bored’ Consumers Return
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