Pandora has announced a program that will allow retailers to swap out discontinued merchandise for “best-sellers” on a one-for-one basis, a move that will be a drag on sales throughout 2012.

The 111 stores Mumbai-based Gitanjali Gems Limited operates in the United States grew in both sales and profitability in the third quarter, results released last week by the company show.

Same-store sales improved and losses narrowed in the United States for Australian jeweler Michael Hill, the company announced last week.

Continued weakness in the diamond engagement ring sector led to a 2 percent decline in overall sales for Blue Nile in the fourth quarter, traditionally the most robust period of the year for the jewelry industry.

Operating profit and net income both increased by double-digit percentages for Swatch Group in 2011, the company reported Tuesday.

LVMH Moët Hennessy Louis Vuitton recorded another strong year, with sales up 16 percent and profits surpassing the $5 billion mark for the first time, the luxury goods conglomerate reported Thursday.

Amazon.com Inc. reported that its net sales increased 35 percent in the fourth quarter while net income fell 58 percent.

Luxury firm Richemont saw sales in the December-ending quarter increase by 24 percent to $3.31 billion. The company on Monday reported double-digit growth in all regions and channels.

Comparable store sales during the holiday season rose 3 percent for Birks & Mayors Inc., including 2 percent in the chain’s U.S. stores and 4 percent in Canada, the company reported earlier this week.

Same-store sales increased 6 percent in November and December for Zale Corp. following a 9 percent increase in the same period last year, the company reported Tuesday.

Signet Jewelers Ltd. executives said Tuesday they were “very pleased” with the company’s holiday performance with its U.S. division, Sterling Jewelers Inc., reporting a 9 percent increase in both same-store and total sales for November and December.

Tiffany & Co. has reported a 7 percent increase over 2010 in total worldwide net sales for November and December, the result of double-digit sales growth in Asia-Pacific and Japan and smaller increases in the Americas and Europe.

December sales fell short of expectations for department store chains that cater more to middle-income consumers, with one chain noting that jewelry was a poor performer.

Department store chain Sears announced plans to close 100 to 120 Sears and Kmart stores after suffering a very weak holiday shopping season. So far this quarter, same store sales fell 5.2 percent.

Third-quarter sales in the United States increased 44 percent for Harry Winston Diamond Corp., though fourth-quarter marketing costs and expenses involved in expanding in emerging markets put downward pressure on profits.

Tiffany & Co. and Zale Corp. recorded the highest margins of any of the companies classified as Specialty Stores by the Global Industry Standard Classification, Financial News Network Online (FNNO) reported last week.

Sales climbed worldwide in the third quarter for Tiffany & Co., including a 15 percent increase in same-store sales in the Americas, the retailer reported Tuesday.

Same-store sales increased 8 percent in the first quarter of fiscal 2012 for Neiman Marcus Inc., the high-end Dallas-based retail chain reported Monday.

Signet Jewelers reported Tuesday that same-store sales in its U.S. division rose 14 percent in the third quarter, with its differentiated brands driving sales.

Sales slipped double-digits in the third quarter for Pandora, including a 5 percent decline in the U.S. market. Pandora’s interim CEO called the results “far from satisfactory.”

Same-store sales increased 6 percent in the first quarter of fiscal 2012 for Zale Corp., marking the retailer’s fourth straight quarter of positive comps.

Financials released by some of the country’s largest department store chains show that retailers that cater to the shrinking middle class continue to struggle while those that target wealthier consumers are posting sales gains.

Same-store sales increased in the low single-digits for Walmart, Target and T.J. Maxx, with Walmart noting that its U.S. customers continue to be hampered by the slow economy. Here are highlights from the financials of the three chains, along with results from multi-media retailer ShopNBC.

Sales grew 26 percent in the second quarter for Gitanjali Gems Ltd. with the company’s U.S. retail stores turning in a strong performance, the Indian retailer and manufacturer reported Monday.

Revenues rose 29 percent in the first six months of the fiscal year for Richemont, with robust sales of jewelry and watches in the Americas and Asia-Pacific.