Majors

Signet Lands on NRF’s Top 100 Retailers List

MajorsJul 13, 2021

Signet Lands on NRF’s Top 100 Retailers List

The jewelry giant took the No. 78 spot as its 2020 U.S. sales surged.

The National Retail Federation just published its Top 100 Retailers list. Signet Jewelers took the 78th spot.
New York—Signet Jewelers made the National Retail Federation’s Top 100 Retailers list, landing at No. 78.
 
The list, compiled by market research firm Kantar Group, ranks the fastest-growing retail companies in the United States, based on 2020 annual retail sales.
 
This year’s list excludes restaurant chains, which were eligible in previous years.
 
According to Kantar, the jewelry company’s 2020 U.S. retail sales totaled $4.65 billion, down 13 percent compared with 2019.
 
The U.S. market accounts for 89 percent of Signet’s worldwide sales, which totaled $5.23 billion in 2020.
 
Signet Jewelers, the parent company of Zales, Jared the Galleria of Jewelry, Kay Jewelers, and more, had 2,381 U.S. stores in 2020, a 9 percent drop compared with 2019.
 
The jewelry giant has been downsizing its store fleet in recent years, moving away from low-performing malls to off-mall locations. It also has plans to add kiosks in underserved markets.
 
In the No.1 spot on NRF’s list is Walmart, with U.S. sales of $430.82 billion, a 9 percent year-over-year increase.
 
“Walmart came up through the ecosystem of retail with winning combinations, such as putting stores where other stores aren’t and being the valued retailer for mass retail,” said David Marcotte, senior vice president for Kantar, in a press release.
 
Amazon came in second place with U.S. sales of $187.27 billion, a year-over-year increase of 34 percent.
 
Supermarket chain Kroger was next, followed by The Home Depot and Costco.
 
“Companies that invested heavily in buy online, pick up in store in 2018 and 2019 were losing money on it then,” said Marcotte. “In 2020, it all paid off. If you didn’t have that capability, you had to scramble to build it.”

 Related stories will be right here … 

The COVID-19 pandemic has led to shifting consumer expectations, said Marcotte.
 
Retailers will need to “express a different value than last year. Last year it was, ‘We’re open, and we have stuff.’ This year it is, ‘We’re open, we’re a good place to go and we have people who can answer your questions.’ That is much harder and expensive to execute on.”
 
Last year was a good year for grocery stores, with major grocery chains holding six of the top 20 spots on this list. Most saw sales increase by double-digits.
 
This pattern may not extend to 2021, he noted, as shoppers have more options for spending their money.
 
It was not a great year for those selling makeup, as working from home became the norm for many.
 
The impact on apparel depended on the category. Department stores like Macy’s and JC Penney struggled while athletic brand Lululemon saw double-digit growth as athleisure wear became the outfit of choice for those working from home.
 
Looking ahead, the future of retail remains uncertain as logistics and supply chain issues linger, said Marcotte.
 
“The bottom line for retailers is they have to succeed in an up-and-down market,” Marcotte said. “They don’t have a choice. Being flexible is very much part of that expertise that we see in the Top 100.”
 
To read the full list, visit the NRF website.
Lenore Fedowis the associate editor, news at National Jeweler, covering the retail beat and the business side of jewelry.

The Latest

IndependentsSep 26, 2022
Roberson’s Fine Jewelry to Close After 42 Years

The store’s liquidation sale will showcase the mix of classic and unique jewels it’s known for stocking.

CollectionsSep 26, 2022
Go ‘Inside the Dream’ of Bulgari Via a New Documentary on Amazon Prime

It follows Creative Director Lucia Silvestri as she crafts the brand’s high jewelry collections.

Recorded WebinarsSep 26, 2022
Watch: What Jewelers Should Know About Insurance

From safeguarding showcases to appraisal liability, insurance experts Mark Devereaux and Andrew Chipman share insurance tips for jewelers.

Brought to you by
6 Steps to Start a Dynamic Company Culture

Learn how to better serve your employees, customers and community by having a dynamic and supportive company culture.

TrendsSep 26, 2022
Vahan Collabs With Wolf on a Jewelry Box

It’s the first time in 50 years the brand has made something other than jewelry.

Weekly QuizSep 22, 2022
This Week’s Quiz
Test your knowledge of the latest jewelry news with this quick test.
Take the Quiz
Events & AwardsSep 26, 2022
Texas Jewelers Association Rolls Out New Format for Design Competition

The competition takes place in tandem with TJA’s annual convention, known as the Texas Jewelers Roundup.

CollectionsSep 23, 2022
Pandora Reimagines Keith Haring’s Art in New Collection

The limited-run collection features figures from Haring’s iconic street art on charms, bracelets, rings, and more.

Brought to you by
Committing to an Ethical Diamond Business

While ethical mining is essential to a diamond business, they represent only a fraction of the responsibility bestowed on jewelers.

GradingSep 23, 2022
GIA Career Fair Returns to Carlsbad

The Gemological Institute of America also announced plans for events in New York and London in 2023.

SourcingSep 23, 2022
See the Items in Gem Legacy’s 4th Anniversary Benefit Auction

One hundred percent of proceeds will benefit the nonprofit’s silicosis prevention initiative.

CollectionsSep 23, 2022
Piece of the Week: Emily Weld Collins’ Amulet

Inspired by antique coins, it depicts a “hippocamp” from Greek mythology.

EditorsSep 22, 2022
4 Things Seen and Heard at the 2022 HardRock Summit

Gemstones Editor Brecken Branstrator dishes on the latest color to trend, the show floor buzz, and more from Denver.

TrendsSep 22, 2022
There’s a New Book on Tiffany & Co.

Written by historian Vivienne Becker, it accompanies this summer’s Tiffany jewelry exhibition at London’s Saatchi Gallery.

Supplier BulletinSep 22, 2022
Using Commerce Data to Outshine the Competition in the Jewelry Industry

Sponsored by Bloomreach

SourcingSep 22, 2022
First Diamond Recovered From Burgundy’s Ellendale Restart

Burgundy also announced the retail launch of its diamond brand, Maison Mazerea.

Events & AwardsSep 22, 2022
JCK Industry Fund Now Accepting Applications

Organizations with a project or initiative aimed at bettering the jewelry industry are encouraged to apply.

Lab-GrownSep 21, 2022
An Updated Look at the Lab-Grown Diamond Market: Size, Pricing, and More

As the end of 2022 draws near, National Jeweler offers another deep dive into lab-grown diamond market data.

TrendsSep 21, 2022
These Are the Diamond Jewels to Stock for the Holidays

These trending-yet-timeless pieces are no-brainers for customers in search of the perfect gift.

SourcingSep 21, 2022
A Day in the Life: Daniel Namdar, Fancy Color Diamond Specialist

Namdar joins a long line of diamond experts, but his love of the trade was learned rather than inherited.

Lab-GrownSep 21, 2022
Looking Ahead: 4 Factors That Could Shape Lab-Grown Diamonds’ Future

Growing supply and falling prices likely will make differentiation a necessity and a reality, according to analyst Paul Zimnisky.

AuctionsSep 21, 2022
Egyptomania at Sotheby’s: See the Egyptian Revival Jewels Heading to Auction

The auction house is celebrating 100 years since the discovery of King Tut’s tomb.

Events & AwardsSep 21, 2022
Ethical Gem Fair Heads to NYC for the First Time

The event is slated for Oct. 20-22 at Brooklyn Metal Works.

CrimeSep 20, 2022
Customs Seizes More Than 700 Counterfeit Cartier ‘Love’ Bracelets

Agents in Cincinnati intercepted three shipments of fake brand-name jewels that would be worth more than $10 million if genuine.

ColumnistsSep 20, 2022
The Smart Lab: 5 Holiday Shopping Predictions for 2022

From free shipping to early shopping, Emmanuel Raheb outlines a handful of factors expected to shape the holiday season this year.

Events & AwardsSep 20, 2022
Harwell Godfrey Nabs CFDA Fashion Award Nomination

The sole fine jewelry nominee, the brand is up for an award in the emerging designer category.

MajorsSep 20, 2022
Signet Expands Loyalty Program, Adds Personal Jewelry Insurance

Customers earn one “gem” for every dollar spent as part of the “Vault Rewards” program, unlocking discounts and special member-only offers.

TechnologySep 19, 2022
Signet Enters the Metaverse With Banter, DressX Partnership

See how it looked when our editor tried on virtual jewelry via the DressX app.

×

This site uses cookies to give you the best online experience. By continuing to use & browse this site, we assume you agree to our Privacy Policy