Merger Will Shrink Finlay by Over 25 Percent

Finlay Enterprises will take a big hit from the Federated Department Stores merger, which will force it to shut 194 jewelry departments, leaving it with 404. Most closings are the result of Federated’s eliminating the Marshall Field’s brand in favor of Macy’s East and West stores, where Finlay has not traditionally operated. Those stores accounted for about $242 million in revenue for fiscal year 2004, about a quarter of the company’s earnings. “We are disappointed that our total store base will be reduced,” said the company’s chief executive officer, Arthur E. Reiner. As a result of the realignment, Finlay also expects to add 11 new doors that could add some $15 million in new revenue.

This content is exclusive to JCK Pro subscribers. Subscribe now to access this and much more with discount code GOPRO21 for $199 for an entire year of access (reg. $249).


Already a JCK Pro? Log in

A JCK Pro subscription is your all-access pass to people and resources on the
cutting edge of the retail jewelry industry, from the industry authority you
know and trust

Learn about the Perks of JCK Pro

Log Out

Are you sure you want to log out?

CancelLog out