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.”
Editors' Picks
Sponsored by
More on Majors
The Latest
Policies & IssuesOct 06, 2026
6 Charged in Connection to String of New Jersey Smash-and-GrabsThe alleged thieves used crow bars and sledgehammers to smash into jewelry stores across the state.
ColumnistsOct 06, 2026
Sherry Smith: Is the Consumer Really Trading Up?Ahead of the holidays, Smith urges jewelers to take a hard look at who’s buying jewelry, what they’re purchasing, and who’s stopped buying.
SourcingOct 06, 2026
DDG Taps Influencers for ‘My Diamond Does Good’ CampaignIn the new consumer-facing campaign, four fashion and lifestyle creators share the stories behind their natural diamond pieces.
Brought to you by
Meet Gemology’s Next Generation Microscope: GIA® Gemolite® NXT Professional EditionExperience gemstones with greater precision and comfort than ever before.
Events & AwardsOct 06, 2026
JIS Fall Returns to MiamiThe 2026 edition will feature presentations on alternative materials and design trends, as well as pop-up activations on the show floor.
Weekly QuizOct 01, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
SourcingOct 05, 2026
De Beers to Take Full Ownership of Gahcho KuéIt is the last fully operational diamond mine in Canada following the recent closures of Ekati and Diavik.
AuctionsOct 05, 2026
The Star Cats of the Sandy Lerner AuctionThese jewels stood out at Bonhams’ sale of the cat-loving tech entrepreneur’s collection of objects depicting the feline form.
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.
CollectionsOct 05, 2026
Sorellina Writes Another Love Letter for ‘Postscript’ CollectionThe fine jewelry brand has expanded the collection that debuted at Couture with four new designs based on its most popular styles.
SourcingOct 05, 2026
Bruce Bridges Joins CIBJO BoardThe AGTA president was elected for a two-year term on the board of directors.
SourcingOct 02, 2026
De Beers, National Geographic Society Renew Okavango Eternal Partnership The partnership, a pledge to protect Africa’s Okavango River Basin, has been extended for an additional five years.
TrendsOct 02, 2026
Hearts On Fire Celebrates 30th Anniversary With Heart PendantThe special-edition “Dream” pendant, our Piece of the Week, was created to mark Hearts On Fire’s 30-year milestone with 30 diamonds.
CrimeOct 01, 2026
Police Looking for 4 Suspects in $600K Smash-and-Grab RobberyDubai Jewelers in Springfield, Virginia, was once again the target of an armed robbery.
SurveysOct 01, 2026
Rolex Ranks Among Most Recommended Brands in US, Survey Says YouGov’s 2026 U.S. Most Recommended Brands report’s out, and a fast-fashion giant is sitting at No. 1 while Rolex is just shy of the top 5.
SourcingOct 01, 2026
Columbia Gem House Opens ‘Cutting Toward Change’ FundraiserProceeds from its jewelry raffle will benefit an organization working in India to combat silicosis, a lung disease affecting stone cutters.
TrendsOct 01, 2026
Carolina Hurricanes’ Championship Ring Reveals Hidden Hockey Puck PendantThe rings, crafted by Jason of Beverly Hills, celebrate the hockey team’s Stanley Cup win with design elements that honor its traditions.
TrendsOct 01, 2026
Amanda’s Style File: October’s Color Range This roundup of birthstone jewelry for October features vibrant tourmalines and opals with personality.
SourcingSep 30, 2026
Botswana’s President, De Beers CEO Say Diamond Demand Is RecoveringPresident Duma Boko spoke at back-to-back events in the city last week, touting Botswana’s stability and the diamond “bounceback.”
CollectionsSep 30, 2026
Oscar Heyman’s Holiday Book Is ‘A Living Archive’ The catalog showcases 112 new, one-of-a-kind pieces amid highlights from the jeweler’s historic archive.
SourcingSep 30, 2026
Gemfields Posts $98.5M Loss, Writes Down Value of Ruby MineIts Montepuez Ruby Mining operation in Mozambique, which is not yielding enough high-quality rubies, has taken a $125 million hit.
SurveysSep 30, 2026
Consumer Confidence Falls to 12-Year Low in SeptemberThose surveyed were worried about the present and the future, with write-in responses mentioning high oil and gas prices.
Events & AwardsSep 30, 2026
Jewelers of America, JA New York to Host Networking EventThe event will take place on the evening of Oct. 26 in New York City.
IndependentsSep 29, 2026
Christy Bromberg, Longtime Gift Buyer for Underwood Jewelers, Dies at 68She is remembered for her joie de vivre, upbeat personality, genuine interest in other people, and love of the Alabama Crimson Tide.
AuctionsSep 29, 2026
Dionne Warwick’s Jewelry Goes Up for AuctionOnline bidding is open now for Julien’s sale of items owned by the “Walk On By” singer, whose final album comes out this fall.
Events & AwardsSep 29, 2026
Matt Stuller to Receive 2027 Gem Award for Lifetime AchievementThe founder and executive chairman of Stuller Inc. is being honored for his impact on the jewelry industry at the 25th annual Gem Awards.
ColumnistsSep 29, 2026
Your Holiday Marketing Has a Bridal Blind SpotDecember is the most popular month to propose, and jewelers need to keep that in mind when planning their holiday marketing.
AuctionsSep 29, 2026
If You Love Cats, This Jewelry Auction Is for YouCat ladies of the jewelry world, unite. Sandy Lerner’s collection of cat jewelry and other objects is going up for auction Wednesday.
