Lab-GrownNov 10, 2026
GIA Examines Pink Lab-Grown Diamond Made to Look NaturalThe 6-carat CVD-grown pink diamond was “deliberately modified” to mimic the appearance of a natural rough diamond, the lab said.
MajorsAug 12, 2016
Macy’s to Close 14% of Its Stores in 2017
The retailer currently has 728 stores, including 675 full-line locations, and said it will shutter 100 of them next year.
For a number of the 100 stores Macy’s is closing next year, their real estate value exceeds their value as a retail store, the company said. Pictured here is the Macy’s at The Mall at Millenia in Orlando, Fla.
New York--Macy’s Inc. is continuing to shed stores, announcing Thursday that it will close 100 of its 728 locations early next year, or about 14 percent of its retail fleet.
The 100 stores are all full-line (non-outlet) Macy’s locations and most of them will close in early 2017.
The retailer said the locations of the 100 stores will be announced later, once the company makes final decisions, and that employees at those stores will be notified before the information is released to the public.
Macy’s has struggled in recent quarters, finishing 2015 with a 5 percent drop in same-store sales in November and December and announcing that it would lay off thousands of workers. It also recently closed 41 stores.
Going forward, the retailer wants to position itself as “America’s preferred omnichannel shopping destination,” and said it will sink capital into its digital businesses and best-performing stores while shedding physical locations where sales are lagging.
Part of the plan for improving the in-store shopping experience, Macy’s said, is to accentuate “high-potential businesses, such as fine jewelry.”
The retailer already has begun rolling out renovated fine jewelry departments.
“The announcements we are making today represent an advancement in our thinking on the role of stores, the quality of the shopping experience we will deliver, and how and where we reinvest in our business for growth,” said Macy’s President Jeff Gennette, who will take over for outgoing CEO Terry Lundgren next year.
He also said, “We believe that this reduction of 100 locations in the short term will result in a more appropriate store portfolio for Macy’s in the longer term and help us to accelerate our progress in building a vibrant omnichannel brand experience.”
Over the past six years, Macy’s has opened 19 stores, including six off-price locations, and closed 90, meaning its physical footprint has shrunk by net 71 stores.
Another way to look at it: Back in 2010, Macy’s had 799 stores. By the time the most recent round of closures is complete, it will have 628 stores, a 20 percent reduction in its physical footprint.
Also on Thursday, Macy’s released its results for the quarter ended July 30.
Same-store sales on an owned plus licensed basis fell 2 percent while total sales were down 4 percent, from $6.10 billion to $5.87 billion. The closing of 41 Macy’s stores in fiscal 2015 impacted the company’s total sales results.
Editors' Picks
Sponsored by
Year-to-date, comps are down 4 percent and total sales have slipped 6 percent.
More on Majors
The Latest
SourcingNov 10, 2026
Botswana in Line to Take Controlling Stake in De Beers, President Says If the Global Diamond Consortium emerges as the top bidder for De Beers, Botswana’s stake will double to 30 percent, Duma Boko said Monday.
ColumnistsNov 10, 2026
Who Checks the Facts When AI Writes Your Jewelry Copy?An incorrect AI-generated ad or product description can cost your store valuable consumer trust.
Brought to you by
DSF Antique Jewelry: Fine Jewelry, Signed Designers, and a World of Rare DiscoveriesWith over 50 years experience in the trade, DSF Antique Jewelry offers quality, craftsmanship, condition, and remarkable variety.
Events & AwardsNov 09, 2026
Here Are the 2027 Gem Award NomineesThese nine individuals and brands are up for a Gem Award in the Jewelry Design, Media Excellence, and Retail Innovation categories.
Weekly QuizNov 05, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CrimeNov 09, 2026
Jeweler Pistol-Whipped, $900K in Jewelry Stolen During Home Invasion The incident, which happened in Miami-Dade County, serves as a reminder to jewelers of the dangers of selling and storing jewelry at home.
GradingNov 09, 2026
GIA Acquires Thousands of Gem Specimens With ‘Extraordinary’ InclusionsGIA Analytical Microscopist John Koivula curated the collection of 2,665 crystals, gems, and minerals over a 60-year span.
Brought to you by
How Overnight Mountings’ Bridal Builder Makes Custom Engagement Ring Design Easier to SellWith customization becoming more expected in engagement ring shopping, the Bridal Builder makes the process tangible.
CollectionsNov 09, 2026
Bibi van der Velden’s Alligators Become High JewelryThe “Eclipse” collection, the brand’s first high jewelry line, centers its alligator motif in diamond and spinel jewels.
EditorsNov 06, 2026
The Spectrum Pieces I Can’t Stop Thinking AboutFrom a Betta fish brooch to a “dragon’s trove” of zircon eggs, here are seven pieces that’ve stuck with Associate Editor Lauren McLemore.
TrendsNov 06, 2026
Pat Pruitt’s DragonFly Earrings Take Flight on Election NightGroundbreaking New Mexico Governor-elect Deb Haaland wore the earrings, our Piece of the Week, when she declared victory on Tuesday.
Supplier BulletinNov 05, 2026
Winning With GCAL 8X®: What’s Working at the CounterSponsored by GCAL by Sarine
SurveysNov 05, 2026
What Retailers Should Know About Holiday Shoppers This YearFrom shrinking budgets to AI elves, here are five takeaways from holiday reports by Bain, Adobe, Mastercard, NRF, and insights from YouGov.
CollectionsNov 05, 2026
Judi Powers, Russell Jones Unleash Joy With New CollaborationThe designers combined their talents for Little Pet Portraits, hand-painted miniatures of our best friends set in a piece of jewelry.
FinancialsNov 05, 2026
Brilliant Earth Continued to Resonate With High-Income Shoppers in Q3Its non-bridal fine jewelry remains the star of the show, recently launching new collections inspired by Elizabeth Taylor and Jane Goodall.
GradingNov 05, 2026
GIA to Offer Next-Day Holiday ServicesThe lab will bring back its complimentary next-day service for some reports starting next week.
CrimeNov 04, 2026
$250K+ in Undeclared Cartier Jewelry Seized at Philadelphia AirportA Pennsylvania woman failed to declare a ring and a bracelet, discarding the boxes and receipts to conceal the purchases, officials said.
FinancialsNov 04, 2026
Pandora’s Q3 Sales Up 7% Amid Focus on DesignNew collections and relevant marketing pushed the company forward, while Pandora’s lab-grown diamond sales continue to lag.
Events & AwardsNov 04, 2026
NYC Jewelry Week 2026 Is the Largest Edition YetThe citywide celebration, slated for Nov. 16-22, is set to host more than 175 events, including live jewelry-making demos.
MajorsNov 04, 2026
Bergdorf Goodman Names New PresidentLanessa Elrod, former president and CEO of Louis Vuitton Americas, has stepped into the role as the retailer celebrates 125 years.
AuctionsNov 03, 2026
Infinity Gauntlet Set With 170+ Carats of Colored Gemstones Up for AuctionA replica of one of the most powerful objects in the Marvel Cinematic Universe, the glove is heading to auction next month in Abu Dhabi.
IndependentsNov 03, 2026
Longtime Jewelry Marketer Arthur Klein Dies at 89Klein, who had his own marketing agency and worked for Gabriel & Co. and Trans American Diamond, is remembered as a kind man.
IndependentsNov 03, 2026
Zadok Jewelers Toasts To 50 Years With Diamond Bracelet GiveawayTo enter the giveaway, locals can purchase a featured beverage from one of eight participating restaurants in Houston and Austin, Texas.
Events & AwardsNov 03, 2026
David Yurman Gem Awards Grant Opens 2027 ApplicationsThe grant recipient will be awarded $50,000 as well as mentoring meetings with executives at David Yurman and other industry executives.
Events & AwardsNov 03, 2026
NAJA, Instappraise Name 2026 Scholarship WinnersThe winners include a non-NAJA member seeking training, a member beginning NAJA courses, and a member becoming a Certified Master Appraiser.
AuctionsNov 02, 2026
197-Carat ‘Romanov Sapphire’ Heads to Sotheby’s GenevaThe rare jewel, which has links to Russia’s Romanov dynasty, is estimated to fetch up to $2 million.
CrimeNov 02, 2026
Customs Seizes More Than 400 Fake Audemars Piguet WatchesIt is one of several seizures of counterfeit jewelry and watches by U.S. Customs and Border Protection officials in Louisville this year.
