The company had a solid second quarter, with sales of non-charm jewelry outpacing sales of pieces in its core collections.
Macy’s CEO to Step Down Next Year
Terry Lundgren, who has led the retailer since 2003, will become executive chairman while Macy’s President Jeff Gennette takes over as CEO.

New York--Macy’s Inc. Chairman and CEO Terry Lundgren will step down in the first quarter of 2017 and be replaced by the retailer’s president, Jeff Gennette.
The retailer said the change in leadership is part of the board of directors’ succession plan that started with Gennette’s election as president in 2014, but it also comes at a time when Macy’s is struggling to compete.
The retailer reported a drop in total and same-store sales in its fourth quarter and fiscal year 2015 and the first quarter 2016 was its worst since the recession. It is also among the many brick-and-mortar retailers that have been forced to close stores and lay off workers.
After the first quarter, Lundgren, who has headed Macy’s for the last 13 years, will continue as executive chairman of the company. He will work side-by-side with Gennette, who will be president and CEO.
The 55-year-old Gennette is a graduate of Stanford University and started his retail career with Macy’s in 1983 as an executive trainee at what was then known as Macy’s West.
Over the years he’s moved up through the ranks, heading Macy’s Central in Atlanta, Macy’s Northwest in Seattle and Macy’s West in San Francisco. He became the retailer’s chief merchandising officer in February 2009 before being promoted to president of Macy’s Inc. in March 2014.
In a company statement, Lundgren called Gennette “an extraordinary leader who has distinguished himself as a skilled merchant and retail operator,” and noted that it is time for Macy’s to “reset our business model to thrive in a future that is being driven by rapid evolution in consumer preferences and shopping habits.”
“Our company must and will change in response to the profound secular forces that are driving consumer spending,” he said.
The Latest

Taylor Swift dons the vibrant pair in new promotional imagery for her upcoming album, “The Life of a Showgirl,” set to release in October.

Its investment in micromechanics expert Inhotec will preserve skills essential to the watchmaking industry as a whole, said the company.

As a leading global jewelry supplier, Rio Grande is rapidly expanding and developing new solutions to meet the needs of jewelers worldwide.

Her new “Ocean” collection was inspired by Myanmar’s traditional articulated fish jewelry, with depictions of flounder, catfish, and more.


The full-day sourcing and networking event, slated for Aug. 18, will be followed by the fifth annual Mega Mixer Summer Soirée.

Model Georgina Rodríguez received a rock of an engagement ring, with her diamond estimated to be 35 carats, experts say.

The Seymour & Evelyn Holtzman Bench Scholarship from Jewelers of America returns for a second year.

The board elected 9 new directors at its recent ICA Congress in Brazil.

Three winners will receive a custom ring from Honest Hands Ring Co. inlaid with a piece of history from Denver-based distillery Stranahan’s.

JD Sports and Wawa were among the fastest-growing retail companies in the U.S. last year.

The new inventory, all untreated, features vibrant hues and unique bicolor combinations.

Acquired by a tech investor, the historic brand will continue to focus on jewelry, accessories, and timepieces.

President Donald Trump issued an executive order extending the pause on higher tariffs to November as negotiations with China continue.

The “Thunderbird Slab” collection features a thunderbird motif as a symbol of power, protection, and boundless possibility.

Columnists Jen Cullen Williams and Duvall O’Steen share tips on how to elevate your professional image.

Peter Damian Arguello, a jeweler in the Denver suburb of Wheat Ridge, was found dead inside his store in November 2023.

The retailer, owned by Berkshire Hathaway, is becoming part of the Berkshire Hathaway Jewelry Group with Helzberg.

The Continental Buying Group’s 2025 Tampa Experience Show is slated for Sept. 8-10.

Associate Editor Lauren McLemore recently attended a fabrics trade show where a trend forecaster shared her predictions for summer 2027.

The company raised its full-year sales guidance while noting it has not yet assessed the potential impact of the latest tariff news.

The organization has raised more than $1.3 million for charity since its inception.

The brand’s latest iteration of a bezel-set diamond bangle features clean lines and a timeless design for a new modern silhouette.

The first watch in the series commemorates his participation in the Civil Rights movement, marching from Selma to Montgomery in 1965.

The catalog contains a complete listing of all the loose gemstones in stock, as well as information about the properties of each stone.

The company added a retailer dashboard to its site and three new birds to its charm collection, the cardinal, blue jay, and hummingbird.

An additional 25 percent tariff has been added to the previously announced 25 percent.