AuctionsSep 18, 2026
7.52-Carat Unheated Paraíba Tourmaline Sells for $1.3M at Sotheby’s The top lot of the auction house’s Hong Kong jewelry sale was an Art Deco Mauboussin necklace with ruby beads, which sold for $2 million.
FinancialsNov 19, 2014
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.
New York--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.
A number of the country’s largest department store chains, including Macy’s and J.C. Penney, as well as discounters such as Walmart and Kohl’s reported their third quarter earnings in November, just as the all-important holiday season began.
Same-store sales were essentially flat or even down slightly across the board.
In the third quarter:
--The TJX Companies Inc. reported that same-store sales for its Marmaxx (Marshalls and T.J. Maxx) division in the U.S. were up 1 percent. Total sales increased 4 percent from $4.49 to $4.67 billion;
--U.S. same-store sales inched up 1 percent for Target Corp. while total sales also were up 1 percent, from $16.9 to $17.3 billion;
--Macy’s Inc. reported a 1 percent drop in both same-store and total sales, with CEO Terry Lundgren noting that “sales did not live up to our expectations in the quarter”;
--At J.C. Penney Co. Inc., comps were flat while total sales fell 1 percent from $2.78 billion to $2.76 billion. Fine jewelry, along with home goods, was listed as one of the retailer’s top-performing merchandise categories;
--Kohl’s Corp. saw same-store sales drop 2 percent while total sales were down by the same, declining from $4.44 billion to $4.37 billion; and
--Same-store sales for Walmart in the U.S. were up 1 percent (excluding fuel) while total sales (including fuel) rose 3 percent. Sam’s Club reported flat comps with total sales up 2 percent.
Howard Feller, a partner at MMG Advisors, an investment bank specializing in fashion and fashion-related mergers and acquisitions, said department store sales continued to experience an uneven sales cadence; stores will have a few strong weeks followed by an abysmal one.
Also not helping department stores in the third quarter was the release of Apple’s new iPhone, which steered many consumers’ discretionary dollars away from their products.
“The theme really for several months now--this trend dates back to early summer--is that business obviously has been down, but it’s been very choppy,” he said. “Choppy is still the word.”
Many consumers still lack the type of discretionary income needed to generate steady, robust sales at department stores. As a result, the retail environment continues to be very promotional, with suppliers bearing the brunt of the margin erosion in the retail supply chain.
This combined with increasing pressure on the supply side is squeezing suppliers in the middle. Feller said as a result, many suppliers are unable to generate the kind of quality, compelling product needed to attract customers today. As a result, they don’t come into the stores and sales remain stagnant.
“The problem tends to feed on itself,” Feller said. “It become its own virtual circle of declining sales.”
He said he anticipates the highly promotional environment will continue into the fourth quarter for the country’s major department store chains.
More on Financials
The Latest
Policies & IssuesSep 18, 2026
Tariffs, Retail Crime Top of Mind at JA’s Annual Fly-In Retailers and manufacturers headed to the Capitol this week to discuss tariff exemptions for diamonds and gemstones, among other issues.
CollectionsSep 18, 2026
Nanis Transforms Its ‘Boule’ Into a Mirror Our Piece of the Week is a pair of drop earrings from the “Sway” collection featuring Nanis’ first use of mirror-polished gold.
Brought to you by
Meet Gemology’s Next Generation Microscope: GIA® Gemolite® NXT Professional EditionExperience gemstones with greater precision and comfort than ever before.
GradingSep 18, 2026
De Beers Introduces Faster Version of Diamond Screening Machine SynthDetect 2 can scan a full tray in less than five minutes, De Beers said, making it six times faster than its predecessors.
Weekly QuizSep 17, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
AuctionsSep 18, 2026
Noonans To Auction Medieval Gold Seal Ring Recovered By 2 FriendsTwo metal detectorists discovered the ring, which may have belonged to English noblewoman Matilda of Lancaster, in Suffolk.
Policies & IssuesSep 17, 2026
Tariffs on India Could Increase as Russian Sanctions Bill Heads to Trump’s DeskThe bill has a provision that allows the president to raise tariffs on countries that import Russian oil and gas to as much as 100 percent.
Brought to you by
Your Piece Could Be the One Editors Talk AboutSubmit your pieces for a chance to win in this year's competition.
Events & AwardsSep 17, 2026
This Is the Winner of the 2026 Robert M. Shipley AwardThe American Gem Society presented the annual award to a former president of its board.
CollectionsSep 17, 2026
Cynthia Erivo, Zoë Chicco’s Jewelry Collab Is an Ode to TransformationThe “Chrysalis” capsule centers butterfly motifs representing growth, transformation, and the unfolding of who you are.
Events & AwardsSep 17, 2026
Louisiana Retailer Kevin Patton Wins Lifetime Achievement AwardJewelers of Louisiana presented Patton, the third-generation president of Pattons Fine Jewelry, with the award at its annual convention.
PodcastsSep 16, 2026
Episode 9: Remembering Cindy EdelsteinTwo special guests join the podcast to commemorate the 10th anniversary of the designer advocate, mentor, and author’s untimely passing.
CollectionsSep 16, 2026
Jessica McCormack, L’Objet Collab on Homewares CollectionMcCormack brings sea-inspired motifs from her “Beaches” collection to L’Objet’s tableware, vanity pieces, and first-ever cutlery set.
CrimeSep 16, 2026
JSA Issues Warning to NJ Jewelers After Rash of Smash and GrabsNine New Jersey jewelers have been victims of smash-and-grab robberies this year, prompting JSA to circulate a list of recommendations.
IndependentsSep 16, 2026
Bromberg & Co. Names New PresidentMarlin “Brian” Hood, who has been with the store for 20 years, will succeed Ricky Bromberg, who died earlier this month.
MajorsSep 16, 2026
Midas Chain Releases ‘House of Midas’ Bridal CatalogThe new bridal catalog features the latest jewelry collections and designs from timeless classics to modern silhouettes.
EditorsSep 15, 2026
2026 Emmys Jewelry: An Either/Or Proposition Stars wore either a necklace or earrings at 78th Primetime Emmy Awards but rarely both, Natalie Francisco notes.
ColumnistsSep 15, 2026
The Levels Your Website Must Clear Before AI Recommends YouJennifer Shaheen compares this new era of AI-powered SEO to a video game: your website must clear one level before advancing to the next.
IndependentsSep 15, 2026
Armadani Launches Retail Support Program for Holiday SeasonThe program highlights “Made in Italy” fine jewelry with digital merchandising, sales education, and local marketing support.
EditorsSep 15, 2026
Q&A: Signet Jewelers’ Joan Hilson on Diamond Demand, the HolidaysHilson, Signet’s chief operating and financial officer, discussed Q2, resurgent natural diamond demand, and why Blue Nile is a standout.
ColumnistsSep 14, 2026
Sherry Smith: Stop Waiting for December to Save Your ChristmasThe stores that have a great December are the ones that made good decisions in August, September, and October, Sherry Smith writes.
AuctionsSep 14, 2026
22 Carats of ‘Sunshine’ Are Up for AuctionThe 22.09-carat fancy yellow “Pragnell Kimberley Sunshine Diamond” is part of the fall jewelry sale at Heritage Auctions.
IndependentsSep 14, 2026
Greenwich St. Jewelers to Unveil Photography Exhibition“Adornos: Jewelry, Memory & What We Pass Down” honors the jewelry’s importance to New York City’s Latine communities.
SourcingSep 14, 2026
Gemfields Sells All Lots at First Emerald Auction in 9 MonthsThe company’s managing director of sales said the results demonstrate “continued strong demand for commercial-quality emeralds.”
SourcingSep 14, 2026
Diamonds Do Good Pledges Support for Eye Care ProgramThe nonprofit awarded a grant to the Gift of Sight initiative spearheaded by South African musician Black Coffee.
CollectionsSep 11, 2026
A Sapphire ‘Stardust’ Ring From Greenwich St. Jewelers The Latine-owned New York jeweler is marking two milestones this year: its 50th anniversary and the 25th anniversary of the 9/11 attacks.
MajorsSep 11, 2026
The Wishing Place by JTV OpensThe jewelry retail broadcast network has sponsored a new space for Make-A-Wish East Tennessee on its campus in Knoxville.
