Macy's CEO on Why He's Cutting Prices on Furniture, Jewelry -- WSJ

By Suzanne Kapner

Macy's chief executive said the retailer would invest $96 million of its tariff refund back into the company, with some of the money going toward price cuts on furniture. "The furniture business was impacted by tariffs more than we anticipated," CEO Tony Spring said in an interview Thursday. "Something that was $2,900 became $3,400. And that didn't resonate with consumers. We took prices down in the second quarter and we saw a big difference in the performance of business."

The company is also cutting prices on jewelry, which had been pressured by both tariffs and the rising price of gold. "We are trying not to pass along all the [costs] to consumers," Spring said. A portion of the $96 million will go to marketing, and the company is also planning to add staff in some stores. The rest will defray higher fuel costs, Spring said.

This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).

(END) Dow Jones Newswires

September 10, 2026 12:39 ET (16:39 GMT)