National Jeweler Network

Financial Reporting


Movado’s Q3 sales slip 2 percent

Though sales and income fell slightly, Movado Group said its brands “outperformed” other watches in what its CEO described as an “extremely challenging retail environment.”


Tiffany sees third quarter comps fall

Despite sales growth in Canada and Latin America, weak tourist spending in the United States resulted in a poor third quarter in the Americas for Tiffany & Co.


Signet reports 3 percent increase in Q3 comps

Kay Jewelers, Piercing Pagoda and the new “Ever Us” collection of two-stone rings were the top performers while sales slowed for Zale and Jared.


Chains see small increases in Q3 comps

Walmart and Target both reported a 2 percent rise while T.J. Maxx’s parent company saw same-store gain of 3 percent, with the chains attributing marked traffic growth and positive customer experiences for the performances.


Pandora pulls out of 116 more stores

The Danish brand announced Tuesday that it has dropped 116 more mostly-U.S.-based retailers from its distribution network in the Americas.


Jewelry now a third of Richemont’s sales

The category continues to increase in importance for the luxury goods conglomerate, which saw sales at Cartier, Van Cleef and Giampiero Bodino grow 18 percent in the first half of the year.


Blue Nile to open 3 to 4 more stores

CEO Harvey Kanter said the company’s first standalone brick-and-mortar location is “exceeding expectations” and they plan to get additional stores open in the first half of 2016.


Richemont sales ‘subdued’ in Americas

The company saw regional growth of just 2 percent in the five-month period ended Aug. 31, despite its jewelry maisons performing “exceptionally well.”


Lazare Kaplan’s sales continue to slide

Though it remains unable to file complete financial statements, Lazare Kaplan International Inc. estimates a 34 percent drop in net sales for fiscal year 2015.


Signet comps up 4 percent in Q2

Boosted by the continued integration of Zale and a strong performance from bridal jewelry, Signet reported an increase in both same-store sales and total sales in the second quarter on Thursday.


Movado sales up 1 percent in weak watch market

A challenging retail environment was offset by selective price increases and source improvements in the supply chain to slightly bump sales for Movado in its second quarter.


Second quarter sales flat for Tiffany

The company noted that comps and total sales were about equal to the prior year in the Americas due to the negative effect of the strength of the U.S. dollar and lower foreign tourist spending, leading to a tempered full-year earnings forecast.


More chains report modest gains in Q2 sales

An increase in foot traffic helped boost same-store and total sales for Target, Walmart and T.J. Maxx’s parent company in the second quarter.


Department stores don’t dazzle in Q2

J.C. Penney and Nordstrom reported modest gains in same-store sales while Macy’s saw its comps slip and Kohl’s came in flat.


Signet settles dispute with Zale shareholders

Signet Jewelers Ltd. has agreed to pay several Zale shareholders a total of $34 million in a dispute over the per-share price Signet paid when it acquired Zale last year.


Pandora pulls its jewelry from more retailers

The Danish bead and jewelry brand said Tuesday that it closed a total of 125 accounts in the Americas region in the second quarter, almost all of them located in the United States.


Blue Nile’s Q2 sales up 7 percent

Blue Nile Inc. reported solid second quarter results Friday, with total sales increasing 7 percent year-over-year as falling diamond prices boosted engagement ring sales.


Jewelry, watch sales stand out for LVMH

The Paris-based luxury goods conglomerate reported Tuesday that its Watches & Jewelry division saw sales increase by double digits in the first half of the year, led by Bulgari.


Comps soar even as losses rise for Birks

Birks Group reported that U.S. same-store sales were up 19 percent in its fiscal year ended March 28, due to an increase in average transaction price and the success of the company’s watch strategy.


Signet continues to post strong sales

Same-store sales increased 4 percent in the retailer’s fiscal first quarter, with both bridal and diamond fashion jewelry performing particularly well.


Movado raises prices, readies for wearables launch

Movado Group soon will be entering the world of wearables and, like a number of other watch companies, has been raising prices recently.


Tiffany sees first quarter sales slip

Despite positive performances in Canada and Latin America, Tiffany & Co. reported Wednesday that global comps for the company were down slightly in the first quarter.


Pandora closes 105 ‘unbranded’ stores

The brand said Tuesday when releasing its first quarter financial results that it closed 105 silver, white and travel retail doors in the Americas, almost all of them in the United States.   


LVMH sees growth in first quarter revenue

Sales in the Watches and Jewelry division increased to $763 million, and there was “excellent momentum” in the U.S. market.


Movado sales up 1 percent in weak watch market

Slow growth for watches and curtailed retailer spending were offset by an improved sell-through at retail, leading Movado Group to do better than expected in Q4. 


Signet to open 35 Zale stores this fiscal year

The new owner of Zale Corp. will open more Zales and Piercing Pagoda stores than it closes, marking the first time in years that the chain’s physical footprint won’t shrink.


‘Softness’ in U.S. leads to flat Q4 for Tiffany

A weak U.S. market brought down Tiffany’s fourth quarter same-store sales, though strong performances in the prior quarters boosted comps for the fiscal year. 


Q4 bump not enough to salvage sluggish year

Boosted by increased traffic, five major retailers--Kohl’s, Target, Walmart, TJX Companies and Costco--all reported same-store sales increases in the last months of 2014, even as full-year financials were mixed. 


Etsy moves to become a public company

The online marketplace filed a registration statement with the SEC Wednesday relating to a proposed initial public offering of its common stock on NASDAQ under the ticker symbol “ETSY.”


Kmart, JC Penney report strong jewelry sales

In a fourth quarter that was overall very lackluster for department stores, these two retailers listed jewelry as among their top sellers for the holiday season.


Pandora records best quarter ever in the US

Sales of rings and the introduction of Disney jewelry at its concept stores helped boost the brand’s revenues in the fourth quarter.


Blue Nile goes brick-and-mortar

The Seattle-based e-tailer plans to open a standalone store in one of the country’s “top malls” where customers can see and try on its rings, though they will still have to buy them online.


Jewelry outperforms watches for LVMH

Sales were strong for Bulgari in 2014 while the luxury conglomerate’s timepiece brands struggled because of “cautious purchasing” among retailers.


Cartier, Van Cleef drive growth for Richemont

Sales growth in the U.S. outpaced that of other regions in the third quarter for Richemont, with jewelry and Net-a-Porter turning in the strongest performances.


Tiffany reports ‘disappointing’ holiday sales

The popularity of its new “T” collection did not translate into strong sales across the board for Tiffany & Co., the retailer reported Monday.  


Zale Corp.’s sales top Sterling Jewelers

Stores under the Zale umbrella recorded better-than-expected holiday sales while comps at Kay Jewelers and Jared the Galleria of Jewelry fell short of expectations. 


JC Penney’s holiday comps climb

J.C. Penney reported that same-store sales rose 4 percent in Nov. and Dec. and said that it plans to close only a very small percentage of its stores this year.


Sears doubles store closures as losses mount

Sears Holdings Corp. reported Thursday that a total of 235 stores, mostly Kmarts, have been closed or marked for closing in an effort to cut costs amid stagnant sales and growing losses. 


Pandora fined in securities case, will appeal

A court in Denmark has fined Pandora 2 million Danish krone (about $333,000) for waiting too long to warn investors that it anticipated a drop in revenue.  


Brands continue to come up big for Signet

Names like Neil Lane, Le Vian and Vera Wang remain the main sales drivers for Signet Jewelers, which is in the process of transforming the sales floor of its Kay Jewelers stores into a series of branded boutiques.


Gold fashion jewelry leads the way for Tiffany

 While results were mixed for Tiffany & Co. globally, sales in the U.S. market were relatively strong, led by consumer demand for fashion jewelry in karat gold.


Earnings roundup: Chain store sales remain uneven

Third quarter sales were soft for major chain retailers, which are grappling with a lack of compelling product and continued competition from pure-play online retailers.  


Same-store sales soar, losses narrow for Birks

Following a tough fiscal year, specialty jeweler Birks Group Inc. has rebounded with a strong second quarter and first half, driven by watch sales and an increase in average ticket, number of transactions and store traffic.  


At Pandora, focus continues to shift inward

Pandora will open a greater number of concept stores than originally planned this year, with a particular emphasis on company-owned and -operated stores.  


Blue Nile forecasts 19 percent growth in Q4

Executives for Blue Nile said Thursday that they anticipate fourth quarter sales could grow as much as 19 percent due to the lowering of engagement ring prices and the addition of brands.  


Another conglomerate calls retailers ‘cautious’

The luxury conglomerate that owns Girard-Perregaux and JeanRichard said that the third-party distributors that buy its watches remain “cautious” in their purchasing, echoing the sentiment expressed by LVMH earlier this month.


Watch, jewelry sales pick up in Q3 for LVMH

LVMH reported Tuesday that its watch and jewelry segment recorded organic revenue growth of 5 percent in the first nine months of the year, though it noted the retailers to whom it sells TAG Heuer and Hublot watches remain cautious in their buying.


Sales in the Americas remain ‘strong’ for Richemont

Sales in the Americas grew 12 percent at constant exchange rates for Richemont in the five-month period ended Aug. 31, the company reported Thursday. 


Tiffany reports comps up, strong sales in Q2

Tiffany & Co. reported Wednesday that same-store sales in the Americas were up 8 percent year-over-year in the company’s second quarter ended July 31, bolstered by strong performances across most product categories. 


Q2 comps down for Zale, now officially part of Signet

Signet Jewelers Ltd. reported Thursday that second quarter same-store sales rose 7 percent for its Sterling Jewelers division but fell 1 percent at Zale Corp., which it officially acquired in late May. 


Movado Group’s Q2 sales up 4 percent

Movado Group reported Tuesday that net sales rose 4 percent year-over-year in its fiscal second quarter, from $138.3 million to $143.6 million. 


Fine jewelry among JCP’s top sellers

Fine jewelry was a strong performer in the second quarter for J.C. Penney Co. Inc., a quarter in which sales increased and the retailer’s losses shrank. 


Jewelry sales sluggish for HSN, QVC in Q2

Multimedia retailers HSN and QVC reported that sales increased in the second quarter, with the strength of other categories offsetting poor jewelry sales for both.


Rising diamond prices slow Blue Nile’s Q2 sales

Blue Nile began dropping its prices in June and July following a second quarter in which sales of engagement rings in the U.S. fell 5 percent year-over-year due to higher diamond prices.


Birks records $5M loss, announces cost-cutting plan

Birks Group Inc., the retailer formerly known as Birks & Mayors, announced this week that it is restructuring to save money, cutting administrative staff at its regional office in Florida and relocating that office’s functions to its headquarters in Canada.  


Retailers remain ‘prudent’ in purchasing, LVMH says

Same-store sales of watches and jewelry rose slightly in the first half for LVMH, with the company noting that the retailers that carry its brands remain cautious when purchasing.


First half net sales up 7 percent for Swatch

Though operating profit and net income declined for the Swatch Group in the first half of the year, net sales increased.


Jewelry auction website Bidz to liquidate

The final gavel seemingly has dropped for Inc., which once sold millions of dollars in fine jewelry a year via its live online auction format but has struggled financially the last several years. 


US comps climb for Michael Hill in fiscal 2014

Same-store sales in Michael Hill’s U.S. stores rose 6 percent year-over-year while total revenue fell slightly due to the company closing a store in June of last year. 


J.C. Penney closes on $2B in new financing

J.C. Penney Co. Inc. announced Monday that it has closed on a new $2.35 billion credit facility, a deal that hints at some confidence from the banks in a performance turnaround for the retailer.


Sales up 12 percent at Gitanjali’s US stores

Mumbai-based manufacturer and retailer the Gitanjali Group reported that the stores it operates in the United States under the Samuels Jewelers Inc. umbrella experienced 12 percent year-over-year sales growth in fiscal year 2014.


Sterling introduces new outlet concept, Jared Vault

Sterling Jewelers is converting some of the Ultra Diamond outlets it purchased in 2012 into Jared Vault stores, a chain of outlet stores that sell overstock from Jared the Galleria of Jewelry.


Tiffany raises guidance following ‘excellent’ Q1

First quarter sales were strong worldwide for Tiffany & Co., with same-store and total sales in the Americas increasing due to broad-based growth across the United States. 


Earnings roundup: Kohl’s, JC Penney, Walmart

Despite a dismal winter that hampered many retailers’ sales, J.C. Penney posted relatively strong first quarter same-store sales, with fine jewelry listed as one of its best-selling categories.


Earnings roundup: Macy’s, Nordstrom

Macy’s Inc. and Nordstrom Inc. reported mixed results for the first quarter ended May 3, with weather taking a toll on sales and off-price outlets continuing to outshine regular stores. 


Richemont jewelry, watch brands outshine fashion

Demand for jewelry and complicated timepieces was “robust” for Richemont in the fiscal year ended March 31, offsetting the weaker performance of Alfred Dunhill, Chloé and Lancel.


First quarter US sales up just 1 percent for QVC

Another multimedia retailer reported that 2014 was off to a weak start, with sales for QVC essentially falling flat in the first quarter in a “difficult retail environment.”


Jewelry sales slow for HSN as Q1 sales decline

HSN Inc., the parent company of on-air and online retailer HSN, reported Thursday that the retailer’s sales were down 1 percent in the first quarter, with jewelry reported as one of its weak sellers. 


Blue Nile Q1 sales up, mobile visits climb

Online retailer Blue Nile reported that sales hit $103.7 million in the company’s first quarter, a 7 percent year-over-year increase. 


Sales up, but Amazon losing ground in some states

Quarterly sales continue to climb for Inc. though a new study shows the online retailer is losing sales--particularly of larger-ticket items--in states where it collects sales tax. 


Michael Hill’s US comps up, opens 2 more stores

Same-store sales at Michael Hill’s U.S. locations rose 3 percent in the nine-month period ended March 31, the Australian retailer recently reported.


First quarter sales climb for LVMH

Sales in the United States were strong in the first quarter for LVMH, with the luxury goods conglomerate’s company-owned watch and jewelry boutiques performing particularly well. 


Signet U.S. comps up 4 percent in Q4

Same-store sales in the U.S. were up 4 percent for Signet Jewelers Ltd. in the fourth quarter, while e-commerce sales climbed 21 percent to $61.9 million. 


Movado cutting back on distribution of ESQ brand

The Movado Group Inc. announced Wednesday that it is reducing distribution of its ESQ Movado brand in order to focus on “more productive” watches. 


Tiffany’s Q4 comps up 6 percent in America

Tiffany & Co. saw same-store sales in the Americas increase 6 percent in the fourth quarter, the company reported Friday. 


Q4 sales climb for ShopHQ on lower prices

Fourth quarter sales were up 17 percent for ShopHQ as the multimedia retailer enticed customers to buy by offering more merchandise at lower price points. 


QVC’s Q4 sales up, but no growth for jewelry

U.S. sales were up 6 percent year-over-year to $1.9 billion in the fourth quarter for multimedia retailer QVC, with growth coming from all areas except jewelry. 


Earnings roundup: Kohl’s, Sears

Kohl’s and Sears reported declines in same-store sales in the fourth quarter, despite it being the period that includes the all-important holiday season. 


Q2 comps up 2 percent, profits rise for Zale

Zale Corp. recorded a 2 percent increase in the same-store sales in the second quarter ended Jan. 31, with its Zales and Zales Outlet stores turning in the strongest performance.


Earnings roundup: JC Penney, Target, more

Both J.C. Penney and T.J. Maxx/Marshalls recorded same-store sales increases in the fourth quarter while Target’s quarterly comps fell in the wake of the massive data breach that impacted millions of customers.


Macy’s disappointed with Jan. sales, blames weather

Same-store sales increased by only 1 percent in the fourth quarter for Macy’s Inc. despite a strong holiday season performance, the retailer reported Tuesday. 


Earnings roundup: HSN, Walmart, Nordstrom

Three jewelry-selling retailers that reported their financials Thursday did not record strong increases in sales in the fourth quarter, despite the fact that it is generally the most wonderful time of the year for retailers. 


Pandora reports double-digit rise in US revenue

Bead brand Pandora reported Tuesday that its U.S. sales rose 24 percent in 2013 (28 percent in local currency) to $589.7 million, driven by an increasing demand for newer products and an improved store network. 


Gitanjali’s US stores post 12 percent growth

Indian jewelry retailer and manufacturer Gitanjali Gems Ltd., owner of Samuels Jewelers Inc., said its United States sales grew 12 percent year-over-year in the first nine months of fiscal year 2014.


Blue Nile has showcase in second Nordstrom store

Blue Nile announced Thursday that it has set up a second in-store display, this one in the Nordstrom bridal suite at Roosevelt Field, a large mall on New York’s Long Island.


Nov.-Dec. comps up 3 percent for JC Penney

Same-store sales increased 3 percent year-over-year in the all-important months of November and December, struggling retailer J.C. Penney reported Tuesday.  


LVMH jewelry, watch sales up 4 percent in 2013

LVMH Moët Hennessy Louis Vuitton reported 4 percent organic revenue growth for its jewelry and watch division in 2013, led by an “excellent” performance in its directly owned boutiques, particularly Bulgari. 


Amazon Q4 sales climb 20 percent, hit $25B

Sales were up again for in the fourth quarter, with the company reporting a 20 percent increase to $25.59 billion as compared with $21.27 billion in the same period last year.


Comps up at Michael Hill’s US stores

Same-store sales at Michael Hill’s U.S. locations were up 2 percent in local currency for the half-year period, the Australian retailer reported Thursday. 


Richemont sales continue to climb in Q3

Swiss luxury goods group Richemont saw sales increase 9 percent at constant exchange rates to $4 billion in the third quarter, with both its jewelry and watch segments enjoying similar growth. 


Pandora says Christmas sales beat expectations

Preliminary results released by Pandora Friday indicate that 2013 sales for the Danish bead brand will be up 35 percent year-over-year due in part to a better-than-expected holiday.  


Zale holiday comps up 2 percent

Calling its holiday season “solid” in a challenging retail environmental, Zale Corp. recorded a 2 percent year-over-year increase in same-store sales in November and December, the retailer reported Friday.


Tiffany’s holiday comps in the Americas up 7 percent

Tiffany & Co. reported Friday that same-store sales in the Americas rose 7 percent during the two-month period ending Dec. 31.


Branded jewelry, watches hot at Sterling

Sterling Jewelers Inc. reported a 5 percent year-over-year increase in same-store sales in November and December, driven by strong sales of branded merchandise and watches as well as beads.


Holiday comps up but Macy’s laying off thousands

Despite what its CEO described as a “successful” holiday season, Macy’s announced Thursday it would lay off about 2,500 employees as it trims central office staff and closes stores.


JC Penney’s brief holiday report raises questions

J.C. Penney Co. Inc. released a statement Wednesday commenting on its holiday performance that gave very few details, spurring speculation that the retailer’s turnaround had stalled.


Judge approves sale of Loehmann’s inventory, IP

A New York judge has approved the sale of bankrupt retailer Loehmann’s inventory and intellectual property following an auction that took place Friday and Saturday in New York.


Discount chain Loehmann’s files Chapter 11

For the third time, 91-year-old retail chain Loehmann’s has filed for bankruptcy and this time the chain plans to sell to a group of liquidators, court papers show.


Sales increase but Neiman Marcus records loss

Sales rose but profits fell for high-end retailer Neiman Marcus in the first quarter of fiscal 2014, with the costs involved in its acquisition pushing the company into the red.


Q3 comps up 6 percent for Saks’ new parent co.

Hudson’s Bay Company, the Canadian retailer that acquired Saks Inc., reported a single-digit increase in both same-store and total sales in the third quarter.


Nov. comps climb double digits for JC Penney

Due to “compelling promotions” J.C. Penney Co. Inc. recorded a 10 percent year-over-year increase in same-store sales in November, with its Modern Bride brand among the private labels showing signs of life. 


Comps up 4 percent, color ‘hot’ at Sterling

Sterling Jewelers Inc. reported Tuesday that same-store sales increased 4 percent in the third quarter, led by strength in sales of colored diamond jewelry, bridal and watches.


Zale records 12th quarter of positive comps

Same-store sales grew in Zale Corp.’s fiscal first quarter, driven by strong sales at the company’s Zales- and Peoples-branded stores and of both bridal and core fashion jewelry.


Tiffany’s comps in the Americas up only 1 percent

Tiffany & Co. reported Tuesday that same-store sales in the Americas rose 1 percent in the third quarter, with the growth attributable to sales at the company’s flagship store in New York City. 


Earnings roundup: Jewelry does well at JC Penney

Fine jewelry was one of the top sellers at J.C. Penney in the third quarter, a quarter in which the retailer saw signs of improvement, recording its first same-store sales increase in almost two years.


ShopHQ shifting away from jewelry

Third quarter sales grew for Shop HQ, formerly ShopNBC, as did the company’s customer base, a change it attributes to selling fewer items in the jewelry and watches category while bulking up its selection elsewhere.


Earnings roundup: Walmart, Kohl’s

Walmart Stores Inc. and off-price retailer Kohl’s Corp. released their third quarter earnings Thursday, with same-store sales down for both as the retail environment remains competitive.


Gitanjali still has eye on U.S. expansion

Gitanjali Group’s U.S. sales grew 12 percent year-over-year in the first two quarters of the fiscal year, and the company remains focused on expanding in markets outside of India.  


In ‘tepid’ climate, Macy’s comps up 4 percent

Same-store sales increased 4 percent in the third quarter for Macy’s Inc., the retailer reported Wednesday.   


Pandora reports slight increase in US sales

Third-quarter sales of Pandora jewelry in the United States increased 3 percent (8 percent in local currency), the Danish brand said Tuesday.


JC Penney sees rise in same-store, online sales

J.C. Penney Co. Inc. said Thursday that its same-store sales increased 0.9 percent in the month of October, marking the first time the retailer has recorded positive same-store sales in almost two years. 


Richemont says demand is strong for jewelry, watches

Sales for the six-month period ended Sept. 30 rose for Richemont due to international demand for its jewelry and high-end watch brands, which include names such as Cartier and Jaeger-LeCoultre.


Q3 jewelry sales slow for HSN

HSN Inc., the parent company of on-air and online retailer HSN, reported Wednesday that the retailer’s sales were flat in the third quarter, with jewelry cited as one of the weakest sellers. 


QVC: One-third of online orders now mobile

Multimedia retailer QVC’s online sales accounted for 41 percent of its total U.S. revenue in the third quarter, and one-third of those sales were made to customers shopping from mobile devices.


Blue Nile: Half of holiday traffic will be mobile

The CEO of Blue Nile, which just recorded its sixth consecutive quarter of double-digital sales growth, said the company expects more than 50 percent of site traffic to come from mobile devices in the fourth quarter.


Shareholders approve Saks-Hudson’s Bay merger

Saks Inc. announced Wednesday that is shareholders have given the green light for the high-end retailer to merge with Canadian retailer Hudson’s Bay Company.


Amazon’s Q3 sales up more than 20 percent

Sales continued to climb for Inc. in the third quarter, with the company reporting a 24 percent increase to $17.09 billion as compared with $13.81 billion in the same period last year.


Watch, jewelry sales pick up for LVMH

After falling flat in the first half of the year, LVMH’s Watches & Jewelry business group recorded organic revenue growth of 3 percent through the first nine months of the year. 


Michael Hill notes ‘good growth’ at US stores

Same-store sales at Michael Hill’s U.S. stores rose 7 percent in the quarter ended Sept. 30, the Australian retailer reported recently. 


Jewelry sales strong at JC Penney

Fine jewelry, along with apparel and accessories, are among the categories turning in an above-average performance at J.C. Penney Co. Inc., the retailer said this week. 


Q4, full year US comps creep up for Costco

Costco Wholesale Corp. reported a single-digit increase in U.S. same-store sales for both the fourth quarter and fiscal year ended Sept. 1.