AuctionsJun 04, 2026
Treasures from Maurice Tempelsman’s ‘Marvelous’ Life Head to AuctionUp for auction at Sotheby’s, the collection of Tempelsman’s personal effects includes a Cartier Tank watch Jackie O. gifted him.
FinancialsFeb 09, 2016
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.
The fine jewelry department of the J.C. Penney store in Brooklyn, N.Y; the retailer reported another quarter of “improved performance” in Q2, with fine jewelry sales leading the way.
New York--J.C. Penney and Nordstrom reported modest gains in same-store sales in the second quarter while Macy’s saw its comps slip and Kohl’s came in flat.
Department store chains are facing the same problems as all retailers--consumers are spending more selectively and, when they do decide to part with their money, have more choices about where to do so. In this particular second quarter, there was Amazon’s first Prime Day sales event with which to contend.
This trend has the big chains pouring money into customer-facing services such as same-day delivery for online purchases, the option to pick up in-store and, to accommodate today’s deal-minded consumer, opening more off-price outlets. Macy’s, in fact, is launching an entire new chain of stores dedicated to discounted merchandise, Macy’s Backstage.
Highlights from J.C. Penney, Macy’s, Nordstrom and Kohl’s second quarter results, which came in last week, are below.
J.C. Penney Co. Inc.
Same-store sales increased 4 percent in the second quarter ended Aug. 1 with Fine Jewelry, which is headed by Pam Mortensen, named as one of the company’s top-performing merchandise divisions. The others were the Sephora shop-in-shops, Men’s and Home.
Net sales reached $2.88 billion, a 3 percent increase from the second quarter 2014. Gross margin rose slightly, from 36 to 37 percent of sales.
CEO Marvin Ellison said the fact that the retailer logged another quarter of improved performance was due to the “commitment and diligence of the J.C. Penney team.”
Macy’s Inc.
In a “disappointing” second quarter, same-store sales on an owned plus licensed basis were down 2 percent year-over-year.
Total sales were down 3 percent, from $6.27 billion to $6.10 billion. Gross margin was down slightly, from 41.4 percent of net sales to 40.9 percent.
CEO and Chairman Terry J. Lundgren said the retailer was “disappointed” by its second quarter results.
The reasons named were the removal of a Friends & Family event from the Macy’s calendar in Q2; the West Coast port slowdown, which pushed planned markdowns into the second quarter to clear merchandise that arrived late; the strong U.S. dollar negatively impacting tourist spending; and “restrained” overall consumer demand.
In the fall, Macy’s plans to open a location in Ponce, Puerto Rico, a Bloomingdale’s in Honolulu, six Macy’s Backstage stores, one Bloomingdale’s Outlet and 10 Bluemercy stores. Bluemercury is a chain of beauty/spa stores Macy’s acquired in March.
The retailer will close a
store in downtown Los Angeles to build a new store in the same mall.
Nordstrom Inc.
Nordstrom’s same-store sales were up 5 percent year-over-year in the second quarter ended Aug. 1. The company’s Anniversary Sale, its largest promotional event of the year, took place in the second quarter and met company expectations.
Total sales for Nordstrom increased 9 percent in the quarter, from $3.3 billion to $3.6 billion. Its entry into Canada, opening of NordstromRack.com and acquisition of Trunk Club, a personal shopping site for men, drove more than a third of sales growth.
Gross profit as a percentage of net sales remained unchanged at 35.4 percent.
Nordstrom said in the third quarter, it plans to open full-line Nordstrom stores in Vancouver, British Columbia, Minneapolis and Milwaukee, relocate a store in Los Angeles and open 16 Nordstrom Rack stores.
Kohl’s Corp.
Both same-store and total sales were flat essentially in the second quarter ended Aug. 1.
Sales reached $4.27 billion compared with $4.24 billion in the second quarter 2014. Gross margin was 38.9 percent, compared with 39 percent a year ago.
Chairman, CEO and President Kevin Mansell said second quarter sales fell short of expectations. He blamed the shortfall on the shift of back-to-school special sales events in tax-free states from July into August.
Kohl’s ended the quarter with 1,164 stores in 49 states, up slightly from 1,160 stores a year ago.
More on Financials
The Latest
CollectionsJun 04, 2026
Buddha Mama to Spend the Summer in AspenThe Miami-based fine jewelry brand will host its first summer residency in the Colorado mountain town from June 5 to Aug. 23.
MajorsJun 04, 2026
AGS Honors Late Peter Yantzer, Holds Time Capsule CeremonyThe organization also announced its international board of directors for the 2026-2027 term.
Brought to you by
All Eyes on Gold Prices. Alternatives to Look For. And What to BEWARE of in VegasAs gold prices rise, today’s retailers are looking for alternatives at prices that will appeal to wider audiences.
MajorsJun 04, 2026
Neiman Marcus’ Downtown Dallas Store to Close in SeptemberSaks Global confirmed the closure this week, spelling the end for a store that’s been part of downtown Dallas for more than 100 years.
Weekly QuizJun 04, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
ColumnistsJun 03, 2026
Peter Smith: When Top Talent Leaves and What It Says About YouSmith discusses how managers should handle a top performer's exit, warning that a poor response could have a lasting impact.
GradingJun 03, 2026
GIA’s Tracr Investment Is First Step Toward Industry-Owned PlatformThe Gemological Institute of America is now a 30 percent stakeholder in Tracr, the De Beers-backed blockchain for diamonds.
Brought to you by
How Modern Training Is Becoming a Competitive Advantage for Jewelry RetailersWith the trade and customer trust in mind, GIA® developed NextGem™ – on-demand training designed specifically for retail.
WatchesJun 03, 2026
The 1916 Company Taking Pre-Owned Rolexes on the Road, AgainThe retailer is bringing Rolex Certified Pre-Owned watches to five U.S. cities in 2026 for collectors to see, try on, and purchase.
IndependentsJun 03, 2026
Jessica Alba Is the New Face of Gabriel & Co.The actress and entrepreneur stars in the jeweler’s new campaign that celebrates life’s quiet moments.
TrendsJun 03, 2026
State of Design: Only the Innovative Will SurviveThe price of gold has risen, affecting the number of pieces designers make, the materials they use, and how they position themselves.
SourcingJun 02, 2026
Leader Appointed for Botswana’s Diamonds for Development Fund Dr. Akinwumi Adesina, a development economist, will head the fund created to help Botswana diversify its economy.
WatchesJun 02, 2026
Watch Industry Veteran James Marks Joins Sotheby’sSotheby’s has appointed the former Phillips executive as its global head of private sales and retail in its watches division.
AuctionsJun 02, 2026
Sotheby’s to Auction 10-Carat Blue Diamond, 1960s Harry Winston Necklace A private collection of five Paraíba tourmalines also will be up for sale at Sotheby’s High Jewelry auction in New York, scheduled for June 16.
IndependentsJun 02, 2026
State of Retail: 6 Things Retailers Should Know About Consumers TodayFrom Gen Z’s view of luxury to “doom spending,” these are the six consumer trends to note this year.
Events & AwardsJun 01, 2026
Design Atelier Brands Have a Big Night at Emotional Couture Design AwardsThe show started by honoring Mildred Marcano, ended with a tearful Beth Anne Bonanno, and recognized a dozen-plus designers in between.
SourcingJun 01, 2026
RapNet Rebranding as Rapaport TradeThe revamped online diamond marketplace will feature pricing intelligence and data-driven tools for more efficient buying and selling.
SourcingJun 01, 2026
Gemfields’ Higher-Quality Emerald Auction Achieves $26.8MThe miner said demand for higher-quality emeralds is stable, but there is notable caution in the market.
CollectionsMay 29, 2026
Cultus Artem’s Necklace Is the Oasis in Las Vegas’ DesertThe “River of Heaven” necklace, our Piece of the Week debuting at Couture, combines 26 salt and pepper diamonds spaced by Tahitian pearls.
IndependentsMay 29, 2026
Meet the 2026 Retailer Hall of Fame InducteesThis year’s inductees include second-, third-, and fourth-generation jewelers.
Events & AwardsMay 28, 2026
JCK Announces Jesse Itzler as 2026 Keynote SpeakerThe author, speaker, and entrepreneur will give his presentation, “Spiritual Billionaire,” on Saturday morning.
Events & AwardsMay 28, 2026
JCK Rocks To Ride With NellyThree-time Grammy award-winning artist Nelly is set to perform at the annual event at Tao Beach on Sunday night.
MajorsMay 28, 2026
Signet Jewelers to Buy The Clear Cut Signet will integrate the online-only, natural diamond-focused jeweler into Blue Nile, which it wants to position as a higher-end retailer.
CollectionsMay 28, 2026
Meet The 17 Newcomers to Couture’s Design AtelierThese up-and-coming jewelry brands are bringing their distinct aesthetic and unique point-of-view to the Design Atelier for the first time.
GradingMay 28, 2026
GCAL By Sarine Launches 8X Cushion CutThe lab’s proprietary diamond cut grade has been expanded to include the popular fancy shape.
Events & AwardsMay 27, 2026
5 Security Tips for Las Vegas Jewelry Market Week 2026This year, it’s what could happen outside of show hours that worries JSA Executive Vice President Scott Guginsky.
ColumnistsMay 27, 2026
What Jewelers Can Learn From Luxury Fashion’s Digital PlaybookHigh-end fashion houses know how to emotionally connect with customers online. Retail jewelers should take note, Emmanuel Raheb writes.
