FinancialsMar 19, 2026
Signet Jewelers to Close 100 Stores, Shutter James Allen BannerFinancialsMar 20, 2026
Macy’s Turnaround Plans Shows Promise, Boosted by Bloomingdale’s
Plus, why Saks Global’s bankruptcy may have given Bloomingdale’s an edge.
Macy’s is making progress on its “Bold New Chapter” turnaround strategy.
New York—Macy’s Inc. closed out the year on a promising note as it continues with its “Bold New Chapter” turnaround strategy.
Announced in February 2024, the plan includes closing 150 underperforming Macy’s locations over a three-year period as it looks to reach sustainable, profitable sales growth.
The retailer is aiming to streamline its store network to around 350 locations.
Macy’s reported its Q4 and full-year results on Wednesday, noting some improvements.
Its quarterly net sales fell 2 percent year-over-year to $7.6 billion, exceeding its guidance, though the store closures did impact sales.
On the bright side, its comps were up 2 percent, also surpassing its guidance, while its net income jumped nearly 50 percent to $507 million.
For the full year, Macy’s net sales were down 2 percent to $21.8 billion, returning to positive comps with 2 percent growth.
Notably, it saw comp sales growth at its “Reimagine 125” revamped locations. Though it began with 125 locations, it has expanded to 200.
“As we wrap up year two of the Bold New Chapter, I’m pleased with the growth and progress we’re making against our strategic priorities,” said Macy’s CEO and Chairman Tony Spring.
“At Macy’s, we are offering more relevant brands, stronger storytelling, and investing in our colleagues so we can better serve the customer.”
Another part of its turnaround strategy was to expand its luxury brands, with plans to open 15 Bloomingdale’s stores and 30 Bluemercury locations by this year.
Bloomingdale’s, in particular, was a bright spot on its balance sheet, with Q4 net sales up 9 percent and comps up 10 percent. For the year, sales were up 6 percent, with comps up 7 percent.
“Bloomingdale’s exceptional performance underscores its ability to elevate the customer experience and capture demand across premium contemporary to luxury businesses,” said Spring.
Analysts have noted the ongoing bankruptcy at Saks Global, the parent company of Saks Fifth Avenue and Neiman Marcus, may have had a hand in Bloomingdale’s success, according to Retail Dive.
On the earnings call, Spring said “I feel strong about the opportunity for Bloomingdale's. The disruption in the marketplace only gives more fuel to the fire.”
“The vendor community has rallied around Bloomingdale's like never before. They are delivering for their customers at an exceptional level right now.”
Bluemercury also performed well in Q4, with net sales up 3 percent and comps up 1 percent. For the year, sales were up 3 percent and comps were up 2 percent.
Related stories will be right here …
Announced in February 2024, the plan includes closing 150 underperforming Macy’s locations over a three-year period as it looks to reach sustainable, profitable sales growth.
The retailer is aiming to streamline its store network to around 350 locations.
Macy’s reported its Q4 and full-year results on Wednesday, noting some improvements.
Its quarterly net sales fell 2 percent year-over-year to $7.6 billion, exceeding its guidance, though the store closures did impact sales.
On the bright side, its comps were up 2 percent, also surpassing its guidance, while its net income jumped nearly 50 percent to $507 million.
For the full year, Macy’s net sales were down 2 percent to $21.8 billion, returning to positive comps with 2 percent growth.
Notably, it saw comp sales growth at its “Reimagine 125” revamped locations. Though it began with 125 locations, it has expanded to 200.
“As we wrap up year two of the Bold New Chapter, I’m pleased with the growth and progress we’re making against our strategic priorities,” said Macy’s CEO and Chairman Tony Spring.
“At Macy’s, we are offering more relevant brands, stronger storytelling, and investing in our colleagues so we can better serve the customer.”
Another part of its turnaround strategy was to expand its luxury brands, with plans to open 15 Bloomingdale’s stores and 30 Bluemercury locations by this year.
Bloomingdale’s, in particular, was a bright spot on its balance sheet, with Q4 net sales up 9 percent and comps up 10 percent. For the year, sales were up 6 percent, with comps up 7 percent.
“Bloomingdale’s exceptional performance underscores its ability to elevate the customer experience and capture demand across premium contemporary to luxury businesses,” said Spring.
Analysts have noted the ongoing bankruptcy at Saks Global, the parent company of Saks Fifth Avenue and Neiman Marcus, may have had a hand in Bloomingdale’s success, according to Retail Dive.
On the earnings call, Spring said “I feel strong about the opportunity for Bloomingdale's. The disruption in the marketplace only gives more fuel to the fire.”
“The vendor community has rallied around Bloomingdale's like never before. They are delivering for their customers at an exceptional level right now.”
Bluemercury also performed well in Q4, with net sales up 3 percent and comps up 1 percent. For the year, sales were up 3 percent and comps were up 2 percent.
Spring highlighted the categories driving growth for Macy’s and Bloomingdale’s, including women's contemporary apparel, dresses, and tailored clothes, as well as fragrances.
In accessories, fine jewelry, lab-grown diamonds, and watches were driving growth.
Macy’s ranked No. 7 on National Jeweler’s “$100 Million Supersellers” list for fiscal year 2024, with an estimated $1.29 billion in jewelry and watch sales.
Looking to the fiscal year ahead, Macy’s is expecting sales between $21.4 billion to $21.7 billion, with comps down 0.5 percent to up 0.5 percent.
Chief Financial Officer and Chief Operating Officer Thomas Edwards noted the impact of tariffs on the retailer.
“The tariff environment continues to evolve,” he said, noting its Q1 outlook reflects the rates before the recent changes. Beyond that, its outlook assumes similar tariffs will remain in place.
Overall, CEO Spring had a positive outlook for the year ahead.
“In 2026, we are well positioned to deliver further progress. Looking further ahead, our proven initiatives, strong execution, strategic clarity, and customer focus should drive sustainable growth and unlock future value creation,” said Spring.
Macy’s will also be celebrating two milestones this year, including the 100th anniversary of its Macy's Thanksgiving Day Parade and the 50th anniversary of its Fourth of July fireworks display.
Editors' Picks
Sponsored by
More on Financials
The Latest
WatchesApr 10, 2026
These Watches Have Increased in Value the Most Since 2018, Says Chrono24The top-performing watch models may be surprising, with Rolex and several popular pandemic-era picks notably absent from the top 20.
CollectionsApr 10, 2026
Ophelia Eve’s Toggle Pendant Holds Your SecretsThe “Scroll” toggle pendant, our Piece of the Week, opens to reveal a hidden message, mantra, or love letter written on washi paper.
ColumnistsApr 09, 2026
Jewelry Demand Isn’t Stronger, Prices Are Just Higher Jewelers who misinterpret the state of the jewelry market risk employing the wrong retail strategy, cautions columnist Sherry Smith.
Brought to you by
Protect Your Customers and Your BusinessYou deserve to know what you are selling–to protect your customers as well as your business and your reputation.
MajorsApr 09, 2026
Tiffany & Co. Promotes Nathalie Verdeille to SVP, Chief Artistic OfficerIn her newly expanded role, she will continue to oversee the jewelry category, as well as watches, home, and accessories.
Weekly QuizApr 09, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
WatchesApr 09, 2026
Jacob & Co. Rolls Out Its Sequel to ‘The Godfather’ Musical Watch“The Godfather II” watch plays two melodies from the mob film’s score, “The Godfather’s Waltz” and “The Godfather Love Theme.”
Events & AwardsApr 09, 2026
JCK Announces Jesse Itzler as 2026 Keynote SpeakerOrganizers have also introduced the new JCK Talks Signature Series, as well as an offering of watch-focused workshops and lectures.
Brought to you by
Is This You? Every Jeweler Has This Problem; We Have the Solution.Every jeweler faces the same challenge: helping customers protect what they love. Here’s the solution designed for today’s jewelry business.
SourcingApr 09, 2026
AGA To Honor ‘Quiet Leadership’ With New AwardThe Alan Hodgkinson Medal recognizes gemologists who are consistently generous with their time and expertise.
WatchesApr 09, 2026
Oris Names New CEO, CFOThe Swiss watchmaker is changing up its executive leadership team as part of a restructuring.
CollectionsApr 08, 2026
Hearts On Fire Celebrates 30 Years By Asking a QuestionThe “What’s Your Signature?” campaign invites women to think about how they see themselves.
SourcingApr 08, 2026
Sale of 42-Carat Blue Diamond Gives Petra a Boost in Q3The big diamond’s sale added to the company’s revenue though the market remains “challenging” overall, particularly for smaller goods.
Events & AwardsApr 08, 2026
AGS Confluence Returns with AI, Sustainability SessionsRob Bates of The Jewelry Wire will also moderate a panel on the state of the jewelry industry during the virtual event.
Events & AwardsApr 08, 2026
TJS to Honor 2 Longtime Former Stuller EmployeesThe Jewelry Symposium will honor two industry veterans with lifetime achievement awards at its upcoming May event.
TrendsApr 08, 2026
Amanda’s Style File: April’s Brilliant Birthstone With their durability, brilliance, and beauty, diamonds are the perfect stone for everyday birthstone jewelry.
MajorsApr 07, 2026
QVC Group’s Latest Filing Calls Its Future Into QuestionThe retailer failed to file its annual report on time and said it may issue a going concern warning.
ColumnistsApr 07, 2026
Peter Smith: A Tip to the Post Office on Workplace CultureSmith recounts a recent trip to the post office that included an uncomfortable, embarrassing, and public exchange between two employees.
GradingApr 07, 2026
GIA CFO David Tearle to Retire in June John Cowley, who has more than 30 years of experience, is succeeding Tearle as the lab’s chief financial officer.
CollectionsApr 07, 2026
Nerd Out Over Gemology Geek’s First Jewelry CollectionFounder Erica Silverglide has designed 35 colorful pieces set with fluorescing gemstones for the brand's first finished jewelry offering.
CollectionsApr 07, 2026
Ukrainian Jewelers Highlighted In New Book“Ukrainian Jewelry | Contemporary Jewelry and Art Jewelry from Ukraine” features 33 contemporary Ukrainian designers and studios.
CollectionsApr 06, 2026
Fope’s New Jewelry Debuts Are Golden“The Golden Now” campaign celebrates the here and now with the brand’s signature styles and a selection of its new pieces.
MajorsApr 06, 2026
Kecia Caffie, Corinne Bentzen No Longer With Signet JewelersSignet confirmed that Caffie, president of Zales and Banter, and Bentzen, who headed Blue Nile, have left the company.
CollectionsApr 06, 2026
Historian Tanzy Ward Pens Book on Black Victorians’ JewelryThe antique jewelry dealer talks about the importance of including Black Americans in jewelry history and preserving their stories.
SourcingApr 06, 2026
Gemfields Reports $51M Loss in 2025Both its mines faced challenges last year, from operational issues to disruptions in the market.
CollectionsApr 03, 2026
Taylor Swift’s ‘Elizabeth Taylor’ Video Puts Jewelry Front and CenterIconic pieces, like the Mike Todd Diamond Tiara, appear in the superstar’s new music video for her song inspired by the actress.
MajorsApr 03, 2026
Saks Global Says It Will Emerge From Bankruptcy This SummerThe luxury retailer, which went Chapter 11 in January, announced Thursday that it has secured $500 million in exit financing.
Events & AwardsApr 03, 2026
JCK Luxury, NouvelleBox Partner on New Designer BallroomThe NouvelleBox ballroom will feature independent jewelry designers, including Lene Vibe, Wyld Box Jewelry, and Kiaia Limited.
