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.”
The Latest
CollectionsJun 30, 2025
State Property’s New Jewelry Tells ‘The Story of Everything’Co-founders Afzal Imram and Lin Ruiyin brought their son’s story of a cosmic egg, toadstool, and railroad to life in their new collection.
ColumnistsJun 30, 2025
The Smart Lab: Why Q3 Is the Secret Weapon For Holiday Jewelry SalesThe best time to prepare for the holiday season is right now, according to columnist Emmanuel Raheb.
Events & AwardsJun 30, 2025
AGA Names Recipient of 2025 Gemological Education ScholarshipThis year’s winner is Morgan Keefe, who is currently studying at GIA to be a gemologist.
Brought to you by
Investing in the Next Generation of Bench JewelersThe Seymour & Evelyn Holtzman Bench Scholarship from Jewelers of America returns for a second year.
IndependentsJun 30, 2025
Melanie Grant’s New Book Explores 200 Years of Jewelry“The Jewelry Book” comes out this September.
Weekly QuizJun 26, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
TechnologyJun 27, 2025
Gemist Raises $6M in Funding to Scale Jewelry Tech PlatformThe company is focused on modernizing the custom jewelry buying experience with e-commerce tools like product visualization and 3D styling.
IndependentsJun 27, 2025
David Webb Announces New Hires, PromotionsFollowing its recent acquisition, the storied brand has updated its leadership team and regional managers.
Brought to you by
Jewelers of America is Headed to Las Vegas for JCK 2025The countdown is on for the JCK Las Vegas Show and JA is pulling out all the stops.
Events & AwardsJun 27, 2025
AGS, GIA Announce Beatrice Shipley Scholarship Winner AGS also named the recipient of its “Women in Leadership” scholarship.
CollectionsJun 27, 2025
Piece of the Week: Buddha Mama’s ‘Monstera’ Wrap RingThe 20-karat yellow gold and diamond wrap ring is modeled after the Monstera plants in the garden of the brand’s Miami villa.
IndependentsJun 26, 2025
Penny Ruston Dies at 80 The creator of the WJA Chicago chapter is remembered as a champion for women in the jewelry industry and a loving grandmother.
SurveysJun 26, 2025
After Recovering in May, Consumer Confidence Dips in June The decline was consistent across age groups and almost all income groups, with tariffs and inflation still top of mind.
CollectionsJun 26, 2025
Jam Out With Sorellina’s Jimi Hendrix-Inspired JewelsThe “Playlist: Electric Dreams” collection brings lyrics from the musician’s song, “Little Wing,” to life through fine jewelry.
Events & AwardsJun 26, 2025
The Jewelry Symposium Is Looking for Speakers for 2026 EventThe event is set for May 16-19 in Detroit, Michigan.
IndependentsJun 25, 2025
Marissa Collections Opens in Nantucket as Legal Fight ContinuesThe Vault’s Katherine Jetter is accusing the retailer of using info she shared for a potential partnership to move into Nantucket.
CrimeJun 25, 2025
Customs Nabs Another Big Shipment of Fake Cartier, Van Cleef JewelryAgents seized 2,193 pieces, a mix of counterfeit Cartier “Love” and “Juste Un Clou” bracelets, and Van Cleef & Arpels’ “Alhambra” design.
CollectionsJun 25, 2025
Splash into Karina Choudhrie’s Collection of Underwater Circus PerformersThe designer brought her children’s book, “The Big Splash Circus,” to life through a collection of playful fine jewelry characters.
Events & AwardsJun 25, 2025
JA Announces Impact Initiative Fund RecipientsThe trade association has chosen the recipients of the funding initiative it formed to foster the growth and sustainability of the industry.
SourcingJun 25, 2025
2025 AGTA Spectrum Awards Open for EntriesThe organization has also announced this year’s slate of judges.
EditorsJun 24, 2025
The Best New Jewelry from Couture 2025, Part 2Associate Editor Natalie Francisco shares 20 additional pieces that stood out to her at the Couture show.
IndependentsJun 24, 2025
Colorado Bench Jeweler Celebrates 50 Years With Local RetailerLori Tucker started at Williams Jewelers when she was 18 years old.
WatchesJun 24, 2025
Citizen’s New ‘Fantastic Four’ Watch Is Literally Super The “Marvel | Citizen Zenshin” watch is crafted in Super Titanium and has subtle nods to all four “Fantastic Four” superheroes on the dial.
GradingJun 23, 2025
GIA Names New President and CEO Pritesh Patel, the lab’s chief operating officer, will take over as president and CEO of GIA.
Recorded WebinarsJun 23, 2025
Watch: Top Trends at Couture, JCK Las Vegas 2025National Jeweler and Jewelers of America discuss the standout jewelry trends and biggest news to emerge from the shows this year.
SourcingJun 23, 2025
Diamond Producers, Organizations to Kick in Money to Promote Natural DiamondsSignatories to the “Luanda Accord” committed to allocating 1 percent of annual diamond revenue to the Natural Diamond Council.
Events & AwardsJun 23, 2025
Jose Hess Design Awards Celebrate 6 Jewelry DesignersThe winning designs captured the “Radiance” theme.
Events & AwardsJun 23, 2025
Gem Awards Now Accepting Nominations for 2026Nominations in the categories of Jewelry Design, Media Excellence, and Retail Innovation will be accepted through July 30.
