Jewelry company Macy's, whose headquarters is in Cincinnati, has announced that it will close some of its stores in the United States at the beginning of this spring, as well as later in 2017.
Macy's announced the closure of 68 stores in different locations, three of which have already been closed. Another 63 stores this number will be closed in early spring, and two more - in the middle of 2017.
As a result of the closure of 63 Macy's stores in the beginning of this year, along with the three that were closed in 2016, the company's sales are expected to fall by about $ 575 million.
Macy's has faced difficulties during the festive season, and reported a decrease in same-store sales by 2% . Despite this, the retailer said strong performance from jewelery sales during the season.
Closing stores along with the restructuring plan and the sale of some assets is the answer to Macy's sales drop.
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Rapaport Auctions, the world's leading company for the re-trafficking of diamonds, last week closed the trading at the Fair in Hong Kong, generated $ 12 million of diamonds weighing over 80,000 carats. The auction consisted of hundreds of lots sold and re-sorted perfectly polished premium quality of all forms, grades, quality and size. Diamonds were received from retailers, pawn shops and refining companies from around the world.
"We are very pleased with the results achieved at our auction, because it confirms the strong demand for natural diamonds of smaller sizes of commercial quality. Higher prices for diamonds, chalk in recent months after a sharp deficit fueled by a 50% decline in production during the second half of 2015. The apparent recent stability of prices gave traders confidence in improving liquidity and increasing dealer trade. Despite the current surge in liquidity and positive sentiment at the fair in Hong Kong, there is concern that an increase in the supply of diamonds in conditions of low global demand may lower the price stability ", - said Eyzies Rapaport (Ezi Rapaport), director of Rapaport Group of global trade.
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