AuctionsAug 29, 2025
Sotheby’s UAE Sale to Feature 32-Carat Fancy Vivid Orangy Pink DiamondThe highlight of a single-owner jewelry and watch collection, it’s estimated to fetch up to $7 million at auction this December.
FinancialsJan 08, 2014
Holiday comps up but Macy’s laying off thousands
Despite what its CEO described as a “successful” holiday season, Macy’s announced Thursday it would lay off about 2,500 employees as it trims central office staff and closes stores.
New York--Despite what its CEO described as a “successful” holiday season, Macy’s announced Thursday it would lay off about 2,500 employees as it trims central office staff and closes stores.
In November and December, Macy’s same-store sales, which include online sales, increased 4 percent. Total sales were up 4 percent as well.
“Even in a questionable macroeconomic environment with challenging weather in multiple states, the positive response from our customers during the holiday season is yet another vote of confidence that our well-established strategies continue to work for us,” Chairman, President and CEO Terry Lundgren said.
Despite what the retailer described as a successful holiday, Macy’s said Wednesday that it has identified areas where it can “improve efficiency,” trimming central office, administrative and back-of-house expenses through layoffs and other cost-saving measures.
A Macy’s spokesperson said the total number of layoffs is expected to be about 2,500, though it is unknown at this point how many additional employees will lose their jobs as a result of the store closures. Macy’s said it will try to place associates in other positions where possible.
The Macy’s stores scheduled to be closed are in Fiesta Mall in Mesa, Ariz., Metcalf South Shopping Center in Overland Park, Kansas, Jamestown Mall in Florissant, Mo., Medley Centre in Irondequoit, N.Y. and Fashion Place Mall in Murray, Utah.
Going-out-of-business sales will begin Monday at these stores and run for 10 to 11 weeks, until they shutter in early spring. The Fashion Place Mall location will close on Sunday with no clearance sale.
Even as these five stores close, the company plans to open five new or replacement Macy’s stores as well as three Bloomingdale’s locations, as previously announced. In addition, the retailer will hire for online operations, direct-to-consumer fulfillment at these new stores.
The new Macy’s stores are in University Town Center in Sarasota, Fla., Shops at Summerlin in Las Vegas, Mall at Bay Plaza in Bronx, N.Y., Plaza Del Caribe in Ponce, Puerto Rico and the Mall at Miami Worldcenter in Miami.
The new Bloomingdale’s stores are in the Stanford Shopping Center in Palo Alto, Calif., Ala Moana in Honolulu and the Mall at Miami Worldcenter.
Once the changes are implemented, Macy’s will have a total of 844 Macy’s and Bloomingdale’s stores in 45 states, the District of Columbia, Puerto Rico and Guam.
Macy’s is scheduled to report its fourth quarter earnings on
Editors' Picks
Sponsored by
Feb. 25. The company has lowered its expectations slightly for the period to a maximum of 3 percent same-store sales growth, down from 4 percent.
More on Financials
The Latest
CollectionsAug 29, 2025
Piece of the Week: Mark Davis’ ‘Bullseye’ Necklace The “Bullseye” necklace, with vintage bakelite and peridot, August’s birthstone, is the perfect transitional piece as summer turns to fall.
Supplier BulletinAug 28, 2025
Clientbook Is Helping Jewelers Turn Clienteling Challenges into Wins with Hands-On Training and CoachingSponsored by Clientbook
Brought to you by
Rallying Call for the Jewelry Industry on Tariffs and Other Key IssuesJewelers of America is leading the charge to protect the industry amidst rising economic threats.
GradingAug 28, 2025
GIA’s New ‘Quality Assessment’ for Lab-Grown Diamonds Is Coming It will classify lab-grown stones into one of two categories, “premium” or “standard,” in lieu of giving specific color and clarity grades.
Weekly QuizAug 29, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
SourcingAug 28, 2025
Botswana Declares Public Health Emergency Amid Diamond Sales SlumpPresident Duma Boko addressed the country’s medical supply chain crisis in a recent televised address.
MajorsAug 28, 2025
Borsheims Names New Jewelry BuyerFormer Free People buyer Afton Robertson-Kanne recently joined the retailer.
Brought to you by
Taking the Moment Head On: How Rio Grande Champions the Present & Future of Fine JewelryAs a leading global jewelry supplier, Rio Grande is rapidly expanding and developing new solutions to meet the needs of jewelers worldwide.
IndependentsAug 28, 2025
Sissy’s Log Cabin Donates School Supplies to Memphis StudentsThe jeweler teamed up with two local organizations for its inaugural “Back to School and Bling” event.
EditorsAug 27, 2025
Taylor Swift’s Engagement Ring Is a Fairy Tale for Vintage Diamond CutsThe singer’s new bling, reportedly a natural old mine-cut diamond, is no paper ring.
SourcingAug 27, 2025
11,685-Carat Emerald Recovered From Zambia’s Kagem MineDubbed the “Imboo,” or “buffalo,” emerald, the rough gemstone is part of Gemfields’ latest emerald auction, which is taking place now.
SurveysAug 27, 2025
Consumer Confidence Slips in August Amid Job, Income WorriesPlans for dining out, booking vacations, and buying big-ticket items were down.
CollectionsAug 27, 2025
Mined + Found’s New Collection Gets Playful The “Play” collection centers on nostalgic toys that have kinetic elements to carry playfulness and wonder into adulthood.
CollectionsAug 26, 2025
Does Your Jewelry Stack Need a Snack?Designer Christina Puchi, the creative force behind CCWW Designs, has created charms and pendants based on iconic candies and crackers.
WatchesAug 26, 2025
Nick Jonas Gets Nostalgic in New Fossil CampaignThe Jonas Brothers star showed off new timepieces against the backdrop of his favorite spots in his home state of New Jersey.
IndependentsAug 26, 2025
Hinkamp Jewelers Celebrates 70 YearsThe family-owned jeweler in Fayetteville, North Carolina, is in the hands of the second generation.
ColumnistsAug 26, 2025
Back to School, Back to Style: Why August is Prime Time for Self-GiftingIn his latest column, Emmanuel Raheb shares tips for encouraging customers to treat themselves to new jewelry.
WatchesAug 25, 2025
London Jewelers Brings Rolex to Historic Hamptons HomeThe new stand-alone Rolex boutique is housed in the former Odd Fellows Hall, a landmark built in 1897.
CollectionsAug 25, 2025
Tennis Star Madison Keys Has the Perfect Necklace for the US OpenThe Brilliant Earth ambassador co-designed a diamond medallion featuring meaningful symbols.
TrendsAug 25, 2025
Amanda’s Style File: That’s a WrapWrap jewelry is more than just a trend; it’s the perfect motif for the coming season of layering, scarves, and pumpkin spice.
WatchesAug 25, 2025
WatchTime NY Show Returns for 10th Anniversary EditionThe three-day watch collector show, coming this October, will feature 44 exhibiting brands, as well as a new dinner experience.
GradingAug 22, 2025
Former Head of GIA India Promoted to Oversee Global Operations Sriram “Ram” Natarajan is now GIA’s senior vice president of laboratory operations and is based out of the lab’s headquarters in Carlsbad.
CollectionsAug 22, 2025
Piece of the Week: Retrouvaí’s ‘Diamond Vein Bond’ CollarThe one-of-a-kind collar represents the beauty of imperfection and the strength to rebuild.
MajorsAug 22, 2025
Kendra Scott Returns as CEO of Her Jewelry EmpireThree C-suite executives, including former CEO Tom Nolan, have resigned as part of what the company describes as a “transition.”
MajorsAug 21, 2025
Claire’s Finds Buyer, Could Save up to 950 StoresThe retailer, which recently filed Chapter 11, inked a deal to sell its North American business and intellectual property.
MajorsAug 21, 2025
Target Names New CEO as Sales Continue to Lag Target CEO Brian Cornell will step down in February and be replaced by the company’s chief operating officer, Michael Fiddelke.
Policies & IssuesAug 21, 2025
JA, IDMA Talk Tariffs With Execs in DC The group met with the president's senior trade advisor earlier this week to express the industry’s concerns about the effects of tariffs.
