RapNet


Rapaport News

 

Retail

 

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

Jewelry Shines for Macy’s, J.C. Penney

Category was among the top sellers for both companies.
May 22, 2019 9:40 AM   By Rapaport News
Print Print Facebook Facebook Twitter Twitter Share Share


RAPAPORT... Macy’s and J.C. Penney noted strong sales in their jewelry divisions in the first fiscal quarter, even as overall results showed a downward trend.

“Our fine-jewelry business continues to deliver strong sales results,” J.C. Penney chief financial officer Bill Wafford said on an analyst call transcribed by Seeking Alpha. “We saw particular strength in categories such as modern bride, gold and fashion gems.”

Jewelry was one of the retailer’s few divisions that outperformed total company comparable-store sales, alongside children’s, women’s and men’s apparel, Wafford added.

Macy’s also highlighted jewelry as one of its highest income-earners for the period.

Macy’s revenue slid 0.6% year on year to $5.5 billion in the first fiscal quarter ending May 4, while profit rose 3.8% to $136 million. Sales at J.C. Penney fell 6% to $2.44 billion for the same period, with a net loss of $154 million, versus a loss of $78 million a year ago.

Image: The jewelry department at a J.C. Penney store. (J.C. Penney)
Tags: Bill Wafford, J.C. Penney, Jewelry, Macy’s, Rapaport News
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