SurveysJul 06, 2022
A Recession Is Unlikely, Says NRF EconomistSurveysJul 15, 2022
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.
A 14-karat two-tone gold engagement ring set with a lab-grown diamond from Pnina Tornai’s new collection ($16,999) at Signet Jewelers-owned Jared. The jewelry giant landed a spot on the National Retail Federation’s most recent “Top 100” retailer list.
New York—Signet Jewelers has again made the National Retail Federation’s Top 100 Retailers list, advancing a dozen spots to land at No. 66.
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.
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.
More on Surveys
The Latest
CollectionsDec 05, 2025
Piece of the Week: Robinson Pelham’s ‘Tsar Star’ EarringsThe new pink sapphire version of the piece dances with its wearer in the brand’s “Icons After Dark” holiday campaign.
TrendsDec 05, 2025
Pantone’s Color of the Year for 2026 Is … WhiteA choice that’s generated a lot of commentary, Pantone says “Cloud Dancer” marks a fresh start and encourages relaxation and creativity.
MajorsDec 05, 2025
Stuller Releases ‘Wrapped in Wonder’ CampaignThe manufacturer’s holiday campaign features a gift guide filled with trending designs and jewelry that can be personalized.
Brought to you by
Impacting Tomorrow TodayHow Jewelers of America’s 20 Under 40 are leading to ensure a brighter future for the jewelry industry.
CrimeDec 04, 2025
Man Arrested After Allegedly Swallowing Fabergé Egg PendantThe man was charged with theft, accused of ingesting the necklace while in a jewelry store in Auckland, New Zealand.
Weekly QuizDec 04, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
IndependentsDec 04, 2025
Step Inside JR Dunn Jewelers’ Giant New Store The Florida independent expanded its store from 8,000 to 14,000 square feet, fulfilling the vision of its late co-founder, Jim Dunn.
Supplier BulletinDec 04, 2025
Introducing Shop Natural Day: A New Movement Celebrating Natural DiamondsSponsored by De Beers Group
Brought to you by
Roseco Releases New Full-Line CatalogRoseco’s 704-page catalog showcases new lab-grown diamonds, findings, tools & more—available in print or interactive digital editions.
WatchesDec 04, 2025
Casio Shrinks its G-Shock WatchThe classic 5600 series G-Shock has been scaled down to about a tenth of its size, becoming a fully functioning watch ring.
Events & AwardsDec 04, 2025
AGA Announces 2026 Tucson Speaker LineupThe association’s annual conference and gala will take place Feb. 4, 2026, during the Tucson gem shows.
Events & AwardsDec 04, 2025
CBG Announces Speaker Lineup for 2026 Miami Event The January show will include a workshop for jewelry retailers on implementing AI to strengthen their businesses.
TrendsDec 03, 2025
Miley Cyrus Debuts Edgy Engagement RingFellow musician Maxx Morando proposed to the star with a chunky, cushion-cut diamond ring designed by Jacquie Aiche.
Policies & IssuesDec 03, 2025
Costco Joins Growing Wave of Retailers Suing for Tariff Refunds The retailer, which sells billions in fine jewelry and watches, is suing the Trump administration and U.S. Customs and Border Patrol.
AuctionsDec 03, 2025
Fabergé’s 'The Winter Egg' Achieves Record $30MThe historic egg, crafted for Russia's ruling family prior to the revolution, was the star of Christie’s recent auction of works by Fabergé.
FinancialsDec 02, 2025
Signet Jewelers’ Q3 Sales Up Amid Continued Focus on Lower Price PointsThe retailer offered more fashion jewelry priced under $1,000, including lab-grown diamond and men’s jewelry.
CollectionsDec 02, 2025
Briony Raymond Introduces First FragranceThe eau de parfum is held in a fluted glass bottle that mirrors the decor of the brand’s atelier, and its cap is a nod to its “Sloan” ring.
SourcingDec 02, 2025
Petra Diamonds Elevates Interim CEOs to Permanent StatusVivek Gadodia and Juan Kemp, who’ve been serving as interim co-CEOs since February, will continue to lead the diamond mining company.
MajorsDec 02, 2025
Lee Krombholz Takes Over as Chair of MJSA Education FoundationIn addition, a slate of new officers and trustees were appointed to the board.
IndependentsDec 02, 2025
RJO Welcomes Its 1,200th Retail MemberWitt’s Jewelry in Wayne, Nebraska, is the organization’s new milestone member.
SourcingDec 02, 2025
Brendan Laurs Honored With 2025 Bonanno AwardLaurs is the editor-in-chief of Gem-A’s The Journal of Gemmology and an expert on the formation of colored gemstone deposits.
CrimeDec 01, 2025
Fourth Man Charged in Louvre Jewelry HeistThe man, who has a criminal history, is suspected of being the fourth member of the four-man crew that carried out the heist.
AuctionsDec 01, 2025
Christie’s Presents ‘Splendor & Style’ CollectionThe single-owner collection includes one of the largest offerings of Verdura jewels ever to appear at auction, said Christie’s.
IndependentsDec 01, 2025
Lustig Jewelers’ New Owner Is a Fellow Chicago JewelerMichael Helfer has taken the reins, bringing together two historic Chicago jewelry names.
MajorsDec 01, 2025
PGI Debuts Platinum-Filled Holiday Gift GuideThe guide features all-new platinum designs for the holiday season by brands like Harwell Godfrey, Ritani, and Suna.
FinancialsNov 26, 2025
Movado CEO Talks Tariffs, Growing Interest in Accessible Luxury WatchesDuring its Q3 call, CEO Efraim Grinberg discussed the deal to lower tariffs on Swiss-made watches, watch market trends, and more.
TrendsNov 26, 2025
Piece of the Week: Rosior’s Pumpkin RingRosior’s high jewelry cocktail ring with orange sapphires and green diamonds is the perfect Thanksgiving accessory.
IndependentsNov 26, 2025
Greenwich St. Jewelers Launches Colorful Holiday CampaignThe “Embrace Your True Colors” campaign features jewels with a vibrant color palette and poetry by Grammy-nominated artist Aja Monet.
