Signet Moves Up NRF’s List of ‘Top 100’ Retailers
Plus, a look at what shoppers want from retailers and why a remodel may not be in the cards.

The jewelry giant was No. 78 last year.
The list, compiled by market research firm Kantar Group, ranks the largest retail companies in the United States, based on 2021 annual retail sales.
The NRF says it uses “a variety of estimation techniques” to calculate its figures, so the sales figures on its list may differ from the companies’ official public filing reports.
This is the case with Signet, which reported total sales of $7.8 billion last year.
The NRF, however, has Signet’s total retail sales at $6.95 billion in 2021.
Signet’s U.S. sales, according to its calculations, totaled $6.14 billion in 2021, a 31 percent increase year-over-year.
The company’s strong performance can be attributed in part to several trends, said David Marcotte, senior vice president for Kantar.
Shoppers had more disposable income, due to lockdowns and an inability to travel, and were able to afford luxury items like fine jewelry.
Signet was the only specialty jeweler on the list, with the top spots taken by big box stores and retail titan Amazon.
In the No.1 spot on NRF’s list, once again, was Walmart, with U.S. sales of $459.51 billion, a 7 percent year-over-year increase.
Amazon took the No. 2 spot for the second year in a row, posting U.S. sales of $217.79, a 13 percent year-over-year increase.
The No. 3 spot went to Costco, with U.S. sales of $140.41 billion, a 16 percent year-over-year increase.
Analysts had predicted problems for retail in 2021 as COVID-19 continued to take its toll, but the year wasn’t all that gloomy.
“Overwhelmingly, retail came out ahead for a variety of reasons,” said David Marcotte, senior vice president for Kantar. “But it’s undeniable that everybody, except for those in apparel, did much better than anyone expected.”
The strong turnout had a lot to do with changing attitudes in 2021 compared with the lockdown period of 2020, said Marcotte.
“Almost any trip was driven by need, but not necessarily a desperation need. It was a need for entertainment, a need to get out, a need to find something. And in both going online and into stores, finding things was, I wouldn’t say an adventure, but a challenge.”
Shoppers weren’t as interested in promotions or merchandising, he said, with retailers backing off ad dollars and promotion.
“What retailers were dealing with was a shopper who was trying to find what they needed and was willing to overlook all other flaws,” Marcotte said.
Retailers like TJ Maxx, Ross, and Burlington, known for their wide selection rather than their merchandising or curated experience, saw strong growth in 2021.
Today, however, shoppers’ mindsets have shifted, regaining an interest in promotions and loyalty points.
“We’re seeing a surge in frequent shopper programs and electronic coupons,” he said. “And we’re seeing the introduction of retail media to engage shoppers trying to squeeze every last dollar.”
In March, Signet said it had been testing out a new loyalty program, Vault Rewards, at select Jared stores and could roll the program out to all its banners.
Looking to the current year, a labor shortage has been affecting retail, with most retailers operating with a 20 percent reduction in workers, said NRF.
Issues affecting the supply chain and trucking only add to the problem.
“That’s been a re-education for most retailers,” said Marcotte. “For the past 40 years, the story has been, ‘I can get by with less labor, and in an ideal situation, I can pay them less.” And that’s not true.”
From Amazon to Starbucks, workers have been unionizing across the country, advocating for a living wage and better working conditions.
The labor issue also spells trouble for experiential retailing, said Marcotte, which takes more than just merchandising.
Significant shortages in both labor and materials may mean stores looking for a remodel, or a whole new location, are out of luck.
“I’m starting to refer to 2023 as, ‘the year you come as you are,’” said Marcotte.
“The labor picture will probably change slowly, but not quickly. The commercial real estate picture will also change slowly and it’s not going to get cheaper. On a global basis, it’s going to be a challenge for retailers to really change their stores’ physical footprint.”
Retailers looking for success in 2022 will have to “re-engage with shoppers in the same way they were with them in 2019.”
“We all wanted to go back to normal,” said Marcotte. “We’re back to normal. We have to be competitive, we have to invest, we have to create. But we really, really have to get involved with frequent shopper programs, electronic coupons and digital tools. The retailers that do that are going to do well.”
Read the full “Top 100” list on the NRF’s website.
The Latest

Anne Hathaway was seen wearing the toggle necklace three times while filming scenes for “The Devil Wears Prada 2.”

Jewellery & Gem World Hong Kong is scheduled for Sept. 15 to 21, and buyer pre-registration will be available until Sept. 7.

Renovations at Tiffany & Co. stores ate into profits in the company’s watch and jewelry division.

As a leading global jewelry supplier, Rio Grande is rapidly expanding and developing new solutions to meet the needs of jewelers worldwide.

Mark and Candy Udell of London Jewelers will receive the honor at the 24th annual Gem Awards next March.


While struggles continue at the mining and trading end of the pipeline, consumer demand for diamond jewelry is holding steady.

The “Fantasia” jewelry collection turns the intaglio animals from her “Close Encounters” collection into 3D characters.

The Seymour & Evelyn Holtzman Bench Scholarship from Jewelers of America returns for a second year.

The special Classic Avi Chronograph 42 with an Eagles-green dial is limited to 59 pieces, a nod to the Super Bowl Philadelphia just won.

JSA has received reports of mobs swarming jewelry stores, driving cars into the storefront or smashing through the windows.

The “Kashmir” collection features centuries-old craft techniques made in collaboration with the region’s master papier-mâché artisans.

Creative Director Erica Bianchini shared why the jeweler is looking to expand into the U.S. and how it’s putting Canadian craftsmanship on the map.

Two Los Angeles Fire Department stations plan to use the donations to upgrade their equipment and tools.

Next week, the auction house will kick off a selling exhibition of jewelry by British artist Hannah Martin and Coldplay’s Guy Berryman.

“Stolen: Heist of the Century” is based on “Flawless,” the book about the middle-of-the-night theft, and will debut on Netflix in August.

Emmanuel Raheb shares the top five gifting moments outside of major holidays that jewelers should build marketing campaigns around.

The wholesale trade show’s Luxury Lifestyle section will showcase established and emerging jewelry designers.

As demand for custom jewelry grows, the company is expanding its services to support retailers.

The mid-year conference for jewelry and watch appraisers is slated for Aug. 9 to 10 on Zoom.

Graduated stones make for elevated tennis-style pieces and dramatic statement necklaces.

Nominations in the categories of Jewelry Design, Media Excellence, and Retail Innovation will be accepted through July 30.

He retired last month after 28 years traveling the world to source the very best gemstones for his family’s jewelry business, Oscar Heyman.

The charm necklace features six nautical charms of shells and coral that founder Christina Puchi collected on Florida’s beaches.

The organization elected its youngest vice president as it looks to draw in fresh talent.

Campbell joins the company as vice president of business development while Liebler is the new vice president of operations.

The medals feature a split-texture design highlighting the Games’ first time being hosted by two cities and the athletes’ journeys.

Sponsored by The INSTORE Jewelry Show 2025