CollectionsJul 17, 2025
2026 Winter Olympic Medal Design Symbolizes UnityThe medals feature a split-texture design highlighting the Games’ first time being hosted by two cities and the athletes’ journeys.
FinancialsMay 15, 2014
Earnings roundup: Macy’s, Nordstrom
Macy’s Inc. and Nordstrom Inc. reported mixed results for the first quarter ended May 3, with weather taking a toll on sales and off-price outlets continuing to outshine regular stores.
New York--Macy’s Inc. and Nordstrom Inc. reported mixed results for the first quarter ended May 3, with weather taking a toll on sales and off-price outlets continuing to outshine regular stores.
Macy’s same-store sales for the 13-week period were down 2 percent year-over-year, as business during the first three months of the year remained weak, while Nordstrom reported that total company comps were up 4 percent as compared with last year.
Highlights from both company’s first quarter results, reported Thursday, are below.
Macy’s
Macy’s Inc. said comps were down 2 percent in the first quarter. Together with sales from departments licensed to third parties, first quarter comps fell 1 percent.
Total sales also were down 2 percent for the retailer during the period, declining from $6.39 billion in 2013 to $6.28 billion in 2014.
Macy’s operating income totaled $443 million, or 7 percent of sales, for the first quarter, compared with $435 million for the prior-year period.
“Overall, business trends were soft in January through March, with the exception of the Valentine’s Day shopping period,” said Macy’s Chairman and CEO Terry Lundgren. “The trend improved in April when the weather began to turn in northern climate zones. We see this as a good sign moving forward into the second quarter. In addition to weather, first quarter comparisons were negatively impacted by a calendar shift for our popular ‘Friends & Family’ event and the fact that we were up against a very strong first quarter last year.”
The company operates about 840 stores under the names of Macy’s and Bloomingdale’s and their corresponding online presences, as well as 13 Bloomingdale’s Outlet stores.
During the first quarter 2014, Macy’s consolidated two stores in the same mall in Houston into one location as part of a mall redevelopment project.
The company said it continues to expect same-store sales growth in fiscal 2014 in the range of 2.5 to 3 percent.
Nordstrom
Total company comparable sales for Nordstrom Inc. were up 4 percent in the first quarter. Nordstrom comps, which includes full-line stores and direct businesses, increased 3 percent during the period, led by accessories, women’s shoes and cosmetics.
Full-line comps only were down 2 percent.
Nordstrom’s off-price division, Nordstrom Rack, meanwhile, recorded a strong performance, with same-store sales up 6 percent compared with the prior-year period.
Total company net sales were up 7 percent compared with 2013 to $2.8 billion.
Nordstrom Rack net sales surged ahead 20 percent to $126 million compared with the same period last year, and Nordstrom continues to focus on the division. The company announced plans to open only three full-line stores but 17 Nordstrom Rack locations during the remainder of 2014. In the first quarter, Nordstrom opened 10 new Rack stores.
Nordstrom said Thursday that it predicts comps will increase between 2 and 4 percent for the full fiscal year 2014, and that net sales will rise in the range of 5.5 to 7.5 percent.
More on Financials
The Latest
Supplier BulletinJul 17, 2025
The INSTORE Jewelry Show 2025: Your Holiday Preparations, All Wrapped Up! Sponsored by The INSTORE Jewelry Show 2025
SurveysJul 17, 2025
The Most Recommended Brands in the World, According to YouGovGlobally, travel and transportation brands reigned, while in the U.S., alcoholic beverage companies and a lingerie brand took the top spots.
Brought to you by
Investing in the Next Generation of Bench JewelersThe Seymour & Evelyn Holtzman Bench Scholarship from Jewelers of America returns for a second year.
IndependentsJul 17, 2025
Gina Ferranti of GiGi Ferranti Jewelry Dies at 59The Brooklyn-based jewelry designer is remembered as a true artist and a rare talent.
Weekly QuizJul 17, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
SourcingJul 17, 2025
Rio Tinto Names New CEO, Production Rises at DiavikProduction at the mine in Canada’s Northwest Territories topped 1 million carats in Q2, the third consecutive quarter of growth.
Events & AwardsJul 17, 2025
JA to Hold Learning Workshops This FallA new slate of Learning Workshops will take place in Oklahoma, Mississippi, and Georgia.
Brought to you by
Jewelers of America is Headed to Las Vegas for JCK 2025The countdown is on for the JCK Las Vegas Show and JA is pulling out all the stops.
SurveysJul 16, 2025
Signet Jewelers Falls Lower on NRF’s ‘Top 100’ Retailers ListThe middle class is changing its approach to buying jewelry and affordable luxury goods, the NRF said.
WatchesJul 16, 2025
The Top-Selling Rolex Models of the Last 15 Years, According to Bob’s Watches The reseller’s market trends report, based on its sales data, also shows exactly how much Rolex prices have jumped since 2010.
AuctionsJul 16, 2025
Christie’s To Honor Dinh Van With ExhibitionThe auction house will be hosting a retrospective paying tribute to jeweler Jean Dinh Van and his company’s 60th anniversary.
IndependentsJul 16, 2025
Clyde Duneier Ushers In Fourth GenerationJake Duneier and Danielle Duneier-Goldberg have stepped into the roles of CEO and president, respectively.
CollectionsJul 15, 2025
Boucheron’s New High Jewelry Calls Attention to Nature’s ImpermanenceThe “Impermanence” collection contemplates nature through the Japanese art of Ikebana (flower arranging) and philosophy of wabi-sabi.
MajorsJul 15, 2025
James Avery Expands to 2 More StatesThe Texas-based jewelry retailer has set up shop in Tennessee and Arizona.
Events & AwardsJul 15, 2025
Neiman Marcus Vet Joins Couture as Brand Director Eric Ford will step into the role, bringing with him decades of experience.
MajorsJul 15, 2025
Ben Bridge Jeweler Acquires Olympic ManufacturingIn addition to improved capabilities, the acquisition will allow the jeweler to offer support to other independent jewelers.
CollectionsJul 15, 2025
Guzema Debuts First Colored Gemstone JewelryThe “Celestial Blue” capsule collection campaign features Olympian Kateryna Sadurska.
MajorsJul 14, 2025
Nanis Opens First StoreThe seasonal store, located in Mykonos, Greece, offers exclusive events, personal styling, and curated experiences.
IndependentsJul 14, 2025
It’s the Summer of Love at Long’s JewelersThe New England jeweler is hosting a bridal event for the month of August.
SourcingJul 14, 2025
Ethical Gem Fair Heads to SeattleThe trade-only event will host its debut fair in the Emerald City later this month.
Events & AwardsJul 11, 2025
The Edge’s Annual Conference Returns in SeptemberIts sessions will focus on inventory strategies, staff performance, retention and acquisition, emerging market trends, and more.
CollectionsJul 11, 2025
Piece of the Week: Miseno’s ‘Arco’ EarringsFor its 10th anniversary, Miseno designed the “Arco” earrings based on the Arco Felice, an arch conceptualized in A.D. 95 in Miseno, Italy.
Policies & IssuesJul 11, 2025
James Avery to Donate $1M to Texas Hill Country Relief EffortsThe jewelry company is one of several contributing to relief efforts in the region after the recent floods.
TrendsJul 11, 2025
Kelly Osbourne’s Engagement Ring Is Sweet as HoneyInspired by fiancé Sid Wilson’s nickname for her, the white and yellow diamond ring features a unique honeycomb design.
CollectionsJul 10, 2025
Penny Preville Celebrates 5 Decades of Jewelry DesignThe brand is marking its 50th anniversary with a limited-edition bangle, high jewelry suites, new collections, and more.
IndependentsJul 10, 2025
Steven Goldfarb to Retire, Close Alvin Goldfarb JewelerGoldfarb said changes in the industry, coupled with his age and the updates needed to modernize his business, drove his decision.
MajorsJul 10, 2025
LVMH Names New Chairman, CEO of the AmericasLongtime LVMH executive Michael Burke has stepped into the role.
