ColumnistsDec 13, 2023
On Data: Independent Jewelers Shine Bright in Early DecemberMajorsDec 18, 2023
Major Jewelers (Mostly) Optimistic About the Holiday Season
From Signet Jewelers to Macy’s, here’s how the biggest jewelry sellers are feeling about the most wonderful time of the year.
A selection of holiday jewels from Signet Jewelers-owned banner Rocksbox. See how Signet Jewelers, Brilliant Earth, and other major jewelry sellers are feeling about the holiday season ahead.
New York—The holiday season began on a high note for retailers, with consumers hitting the stores in record numbers over Thanksgiving weekend.
From Thanksgiving through Cyber Monday, 200.4 million consumers went shopping, according to the National Retail Federation, exceeding the organization’s expectation of 182 million and surpassing last year’s total of 196.7 million shoppers.
Still, economic pressures and geopolitical tensions could make for a not-so-merry season.
Here’s how a few of the major jewelry sellers are feeling about the holidays.
Signet Jewelers: Confident about brighter days ahead
Signet Jewelers posted double-digit declines in its recent third quarter as engagement ring sales slowed.
On an earnings call, CEO Virginia Drosos said fine jewelry is “experiencing its second COVID,” referencing the industry’s initial struggles during the early days of the pandemic, but remains confident a rebound is ahead.
The jewelry giant noted an uptick in the number of engagement rings sold through Black Friday weekend.
Over Black Friday weekend, jewelry under $1,000 was popular, with the Banter by Piercing Pagoda banner doing particularly well.
Brilliant Earth: Planning on a profitable quarter
Brilliant Earth posted muted sales growth in its third quarter, also noting a decline in bridal sales.
The retailer lowered its fiscal outlook to “reflect the current normalizing jewelry industry conditions.”
Still, CEO Beth Gerstein ended its recent earnings call on a positive note.
“The bulk of the season lies ahead and we believe that we are well-positioned to deliver another profitable fourth quarter with the largest quarterly sales in our history,” she said.
Movado: Cautious amid uncertainties
Movado Group also had a rough third quarter, seeing a double-digit drop in sales as it continued to struggle in its largest markets, the United States and Europe.
In light of the “uncertain” retail environment, the company lowered its fiscal-year guidance.
On a recent earnings call, Movado CEO Efraim Grinberg noted that while the company has seen trends improve in recent weeks, due in part to its new Movado marketing initiatives, it is still facing a challenging market in the U.S. and Europe.
“As we proceed through the important holiday quarter, we are taking a cautious view while supporting important marketing initiatives to ensure that our brands get stronger while we navigate the uncertain retail climate and steer clear of the excessive promotional environment,” he said.
The company will also be airing new television commercials on cable networks and YouTube TV.
Related stories will be right here …
From Thanksgiving through Cyber Monday, 200.4 million consumers went shopping, according to the National Retail Federation, exceeding the organization’s expectation of 182 million and surpassing last year’s total of 196.7 million shoppers.
Still, economic pressures and geopolitical tensions could make for a not-so-merry season.
Here’s how a few of the major jewelry sellers are feeling about the holidays.
Signet Jewelers: Confident about brighter days ahead
Signet Jewelers posted double-digit declines in its recent third quarter as engagement ring sales slowed.
On an earnings call, CEO Virginia Drosos said fine jewelry is “experiencing its second COVID,” referencing the industry’s initial struggles during the early days of the pandemic, but remains confident a rebound is ahead.
The jewelry giant noted an uptick in the number of engagement rings sold through Black Friday weekend.
Over Black Friday weekend, jewelry under $1,000 was popular, with the Banter by Piercing Pagoda banner doing particularly well.
Brilliant Earth: Planning on a profitable quarter
Brilliant Earth posted muted sales growth in its third quarter, also noting a decline in bridal sales.
The retailer lowered its fiscal outlook to “reflect the current normalizing jewelry industry conditions.”
Still, CEO Beth Gerstein ended its recent earnings call on a positive note.
“The bulk of the season lies ahead and we believe that we are well-positioned to deliver another profitable fourth quarter with the largest quarterly sales in our history,” she said.
Movado: Cautious amid uncertainties
Movado Group also had a rough third quarter, seeing a double-digit drop in sales as it continued to struggle in its largest markets, the United States and Europe.
In light of the “uncertain” retail environment, the company lowered its fiscal-year guidance.
On a recent earnings call, Movado CEO Efraim Grinberg noted that while the company has seen trends improve in recent weeks, due in part to its new Movado marketing initiatives, it is still facing a challenging market in the U.S. and Europe.
“As we proceed through the important holiday quarter, we are taking a cautious view while supporting important marketing initiatives to ensure that our brands get stronger while we navigate the uncertain retail climate and steer clear of the excessive promotional environment,” he said.
The company will also be airing new television commercials on cable networks and YouTube TV.
Macy’s: Still a ‘gift-giving destination’
Macy’s posted declining revenue in its recent third quarter, noting a drop in both brick-and-mortar and online sales.
The storied retailer has been struggling in the face of online competition and reportedly has received a $5.8 billion buyout offer.
Macy’s took the No. 7 spot on National Jeweler’s 2022 “$100 Millon Supersellers” list, with an estimated $1.7 billion in jewelry and watch sales.
In a press release about its results, CEO Jeff Gennette touted Macy’s “better-than-expected top- and bottom-line third quarter results” and said the retailer was “entering the holiday period in a healthy inventory position.”
“Our portfolio of nameplates are leading gift-giving destinations across the value spectrum offering exclusive products. We have refined our gift assortment, simplified our promotions, and improved our shopping experience,” he said.
Target: Catering to price-conscious shoppers
Target posted a 5 percent dip in comparable sales in its third quarter with discretionary categories driving the decline.
The company sits at No. 11 on National Jeweler’s 2022 $100 Million Supersellers list, with jewelry and watch sales of $617 million.
On an earnings call, CEO Brian Cornell highlighted the pressures being faced by consumers, noting that while inflation rates have moderated prices in key categories are still up significantly compared with 2020.
Food prices for families have increased 25 to 30 percent, while baby food and formula is up 30 percent. Energy prices are also up.
“As a result, this holiday season, we’re focusing on highlighting the amazing value we’ve always provided in our end caps, promotions, and the price points we feature in our marketing. As we built our plans for this holiday season, we maintained our cautious inventory positioning in markdown-sensitive categories,” said Cornell.
While Target is “cautious” in its near-term outlook, it’s “playing the long game,” by investing in its stores, supply chain, team, digital capabilities, and its assortment to “provide the newness, value and convenience our guests want for this holiday season and beyond.”
“At the heart of it all is our focus on being our guests’ happy place and delivering the joyful shopping experience that makes Target, Target.”
More on Majors
The Latest
CollectionsMar 12, 2026
Jessica McCormack Sends Gold, Gemstones Into ‘Orbit’McCormack looked to the 19th century’s “golden age” of astronomy when designing her new celestial-themed collection.
Events & AwardsMar 12, 2026
Johnny Nelson Wins David Yurman Gem Awards GrantNelson will be honored as the inaugural grant winner at the Gem Awards gala on Friday.
TechnologyMar 12, 2026
Caratwise Launches, Names Former Signet Exec CEO The new smart design software allows jewelers to configure, price, and confirm a custom engagement ring in real time for in-store customers.
Brought to you by
Is This You? Every Jeweler Has This Problem; We Have the Solution.Every jeweler faces the same challenge: helping customers protect what they love. Here’s the solution designed for today’s jewelry business.
SourcingMar 12, 2026
Grandview Klein Opens New Factory in South Africa The 10,000-square-foot diamond manufacturing facility officially opened in late February and employs 50 people.
Weekly QuizMar 05, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Events & AwardsMar 12, 2026
MJSA ‘Future of Jewelry Making’ Scholarship Applications OpenThe MJSA Education Foundation’s scholarships support students pursuing jewelry careers.
AuctionsMar 11, 2026
‘Spectacular’ 26-Carat Diamond Going Up for Auction in London The largest white diamond to come to market in the U.K. in more than a decade, the VVS1, I-color stone is expected to top $1 million.
Brought to you by
DCA Enters a New Chapter in Jewelry EducationWith refreshed branding, a new website, updated courses, and a pathway for growth, DCA is dedicated to supporting retail staff development.
TechnologyMar 11, 2026
Cast Jewelry’s Rachel Skelly on Coming Back Online Only Skelly shares her plans for reimagining the fine jewelry retailer she re-acquired after it faltered last year.
CollectionsMar 11, 2026
Pyrrha Highlights ‘The Space Between’ In New CollectionThe collection takes inspiration from the emotional space between people, moments, and experiences.
IndependentsMar 11, 2026
From the Jazz Age to the Information Age: London Jewelers Turns 100In 2026, the jewelry retailer is celebrating a milestone only a small percentage of family-owned businesses survive to see.
IndependentsMar 11, 2026
Virginia Jewelers Raise Nearly $30K for Children’s HospitalThe group of jewelers held a jewelry raffle in support of the Children’s Hospital of Richmond at VCU.
FinancialsMar 10, 2026
Signet Jewelers’ Q4 Sales Fall Flat The jewelry giant released preliminary results for the fourth quarter and full year on Monday, with final results slated to come next week.
TrendsMar 10, 2026
Messika Names Julianne Moore as AmbassadorThe award-winning actress is the “epitome of modern allure,” the brand said.
CollectionsMar 10, 2026
Gemstones ‘Bloom’ in Sorellina’s New CollectionThe “Bloom” collection draws from the flower power movement of the 1960s and ‘70s with inlay pendants offered in eight colorways.
Events & AwardsMar 10, 2026
Diamond-Studded Painting Shines at RJO Foundation AuctionThe unique piece was one of the custom works offered at the foundation's recent silent art auction, which garnered nearly $15,000 in total.
TrendsMar 09, 2026
Jake Gyllenhaal Is Bulgari’s Latest AmbassadorBulgari named Gyllenhaal as its brand ambassador for his embodiment of artistic depth, intellectual curiosity, and warmth.
Events & AwardsMar 09, 2026
TJS Announces 2026 Scholarship WinnersAwards were given to four students, one apprentice, and an emerging jeweler.
AuctionsMar 09, 2026
Joanna Carson’s Jewels Lead White-Glove SaleThe top jewelry lot of the late model’s estate sale, hosted by John Moran Auctioneers, was an Oscar Heyman & Brothers for Cartier necklace.
GradingMar 06, 2026
Tom Moses Leaving GIA After Nearly 50 YearsMoses, who started at GIA’s Santa Monica lab in 1976, will leave the Gemological Institute of America in May.
Lab-GrownMar 06, 2026
Charles & Colvard Files for Bankruptcy, Citing Price PressuresIncreased competition, falling lab-grown diamond and moissanite prices, and the rising cost of gold took a toll on the moissanite maker.
CollectionsMar 06, 2026
Zome’s ‘Solara’ Earrings Embody Celestial BeautyThe earrings, our Piece of the Week, feature pink tourmalines as planets orbiting around an aquamarine center set in 18-karat rose gold.
Policies & IssuesMar 05, 2026
Tariffs to Increase to 15% This Week, Treasury Secretary Says Also, a federal judge has ordered that companies that paid tariffs implemented under the IEEPA are entitled to refunds.
CollectionsMar 05, 2026
Common Era Honors ‘Difficult Women’ in CollectionThe ever-growing collection, which just expanded with the addition of Olga of Kyiv, features cameos of 12 women from history.
TrendsMar 05, 2026
Engagement Ring Trends 2026: What’s In, and WhyWe asked a jewelry historian, designer, bridal director, and wedding expert what’s trending in engagement rings. Here’s what they said.
Events & AwardsMar 05, 2026
AGS Announces Conclave 2026 Speaker LineupThe annual event will be held in Orlando, Florida, from Sept. 14-17.
TrendsMar 05, 2026
Caitríona Balfe Fronts Only Natural Diamonds CoverThe “Outlander” star modeled for the digital cover of the magazine’s spring issue, which features a story on her relationship with jewelry.
