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Macy’s to Roll Out ‘Upgraded’ Jewelry Department After Dismal First Quarter

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Retailer also closed its specialty jewelry store in Honolulu.

As Macy’s announced disappointing first quarter results that caused it to lower its sales and earnings outlook for the year, the retailer said it will roll out an “upgraded” jewelry department concept, according to a company press release. Macy’s piloted the concept in 40 stores last fall and now plans to incorporate it into an additional 350 stores by the end of 2016. The retailer also said it closed its specialty jewelry store in Honolulu.

In the release, Macy’s CEO Terry Lundgren said: “We are seeing continued weakness in consumer spending levels for apparel and related categories. In particular, our sales trend relative to expectations meaningfully slowed beginning in mid-March, and first quarter results are below our original outlook. … As we rebuild our business for a comeback that we expect will begin later this year, we continue to focus on agility and innovation – supporting and testing new ideas and approaches so we can identify the best way to serve evolving customer needs, and moving fast to scale up the most successful pilots on a broader basis to fully capture growth opportunities.”

Read the full release at Business Wire

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When Tom Moses decided to close one of the two Moses Jewelers stores in western Pennsylvania, it was time to call in the experts. After reviewing two candidates, Moses, a co-owner of the 72 year-old business, decided to go with Wilkerson. The sale went better than expected. Concerned about running it during the pandemic, Moses says it might have helped the sale. “People wanted to get out, so there was pent-up demand,” he says. “Folks were not traveling so there was disposable income, and we don’t recall a single client commenting to us, feeling uncomfortable. It was busy in here!” And perhaps most importantly, Wilkerson was easy to deal with, he says, and Susan, their personal Wilkerson consultant, was knowledgeable, organized and “really good.” Now, the company can focus on their remaining location — without the hassle of carrying over merchandise that either wouldn’t fit or hadn’t sold. “The decision to hire Wilkerson was a good one,” says Moses.

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