SurveysJul 09, 2025
Jewelry Stays Strong as Luxury Market Slows, Bain & Co. Says SurveysJul 16, 2025
Signet Jewelers Falls Lower on NRF’s ‘Top 100’ Retailers List
The middle class is changing its approach to buying jewelry and affordable luxury goods, the NRF said.
A selection of gold bracelets and bangles from Signet Jewelers-owned banner Zales. Signet Jewelers placed at No. 69 on the National Retail Federation’s Top 100 Retailers list.
Washington—Signet Jewelers has once again earned a spot on the National Retail Federation’s Top 100 Retailers list, but it ranked slightly lower this year.
The jewelry company was No. 69, down 2 spots from No. 67 last year.
Signet came in at No. 56 in 2023, No. 66 in 2022, and No. 78 in 2021.
The list, compiled by market research firm Kantar Group, ranks the largest retail companies in the United States, based on 2024 annual U.S. retail sales.
The NRF has said 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.
The NRF’s calculations have Signet’s total U.S. retail sales at $6.21 billion in 2024, down 5 percent year-over-year.
In a blog post about the list, the NRF noted a change of habits when it comes to buying jewelry.
"Buying has changed when it comes to jewelry and affordable luxury goods for the middle class," said the post, noting Signet Jewelers' sales decline.
"Further, strategies related to lab-grown, natural zircon diamonds, and natural mined diamonds are cutting into margins and volumes."
Related stories will be right here …
The jewelry company was No. 69, down 2 spots from No. 67 last year.
Signet came in at No. 56 in 2023, No. 66 in 2022, and No. 78 in 2021.
The list, compiled by market research firm Kantar Group, ranks the largest retail companies in the United States, based on 2024 annual U.S. retail sales.
The NRF has said 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.
The NRF’s calculations have Signet’s total U.S. retail sales at $6.21 billion in 2024, down 5 percent year-over-year.
In a blog post about the list, the NRF noted a change of habits when it comes to buying jewelry.
"Buying has changed when it comes to jewelry and affordable luxury goods for the middle class," said the post, noting Signet Jewelers' sales decline.
"Further, strategies related to lab-grown, natural zircon diamonds, and natural mined diamonds are cutting into margins and volumes."
The top five ranking was the same as in 2024, with Walmart taking the No. 1 spot, followed by Amazon, Costco Wholesale, Kroger, and The Home Depot.
The top 13 companies were the same, though there was some movement in the rankings, with Target slipping one spot to No. 8 while Walgreens Boots Alliance took the No. 7 spot.
“This year’s Top 100 Retailers represent a diverse group of businesses that have adapted and evolved to a changing economic landscape,” said NRF Executive Director of Research Mark Mathews.
“As consumers evaluate their spending priorities, businesses are unlocking new ways to better connect with customers and retain loyalty.”
David Marcotte, Kantar senior vice president of global insights and technology, said the companies at the top are also “a reflection of those that have remained nimble to a changing landscape from the impacts of trade policy and shifting consumer habits.”
Among the trends seen this year was a decline in drug store sales.
Rite Aid, for example, fell to No. 40 from No. 29 last year.
Following the COVID-19 pandemic, the health services segment of these stores did well, but sales of consumer goods in the front of the store declined, said the NRF.
The NRF also noted a change in habits when it comes to discretionary spending on pets and alcohol sales.
The pandemic saw a sharp increase in pet ownership, which has now stabilized, said the NRF, leading to a decrease in discretionary spending on pets.
Petco (No. 75) posted a 2 percent decrease in U.S. retail sales and a 2 percent drop in U.S. stores, while PetSmart (No. 52) saw a modest 1 percent increase in sales and a 3 percent decrease in U.S. stores.
The NRF also highlighted a general movement away from alcoholic beverages, particularly for the younger generations.
See the full list of retailers and more information about the methodology behind the rankings here.
Editors' Picks
Sponsored by
More on Surveys
The Latest
CollectionsSep 28, 2026
De Beers London Drops Water-Inspired High Jewelry Collection“Vibrations” features several firsts for De Beers’ high jewelry, including the use of chalcedony and diamonds sourced from artisanal miners.
CollectionsSep 28, 2026
Jessica McCormack Turns to Classic Motif for New CollectionThe “Bows” collection features three interpretations of the bow motif designed with Georgian and Victorian influences.
Events & AwardsSep 28, 2026
Guy Borenstein, Troy Underwood Among the Professionals Honored at AGS Conclave 2026The American Gem Society recognized industry members, one Guild, and a law enforcement official for their contributions to jewelry.
Brought to you by
Meet Gemology’s Next Generation Microscope: GIA® Gemolite® NXT Professional EditionExperience gemstones with greater precision and comfort than ever before.
FinancialsSep 28, 2026
Instappraise, Jewelers Mutual Look to Simplify Jewelry InsuranceThrough a new system integration, customers can now receive instant personal jewelry insurance quotes at the time of appraisal.
Weekly QuizSep 25, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
WatchesSep 25, 2026
Smaller Rolex Watches Showing Strength on Secondary Market, Data ShowsFive of the 10 fastest-appreciating Rolex models on Bob’s Watches were Datejust 31 or Lady Datejust watches.
MajorsSep 25, 2026
Sherwood Family Buys Back Daniel’s Jewelers from Private EquityThe Sherwood family and AJS Creations CEO Tejas Shah purchased the jewelry chain back from Palladium Equity Partners.
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.
Lab-GrownSep 25, 2026
Brilliant Earth Collabs with Elizabeth Taylor Estate on Jewelry Collection“The Elizabeth Taylor Collection” uses lab-grown diamonds and gemstones in contemporary designs inspired by the icon.
TrendsSep 25, 2026
A Peek at Taylor Swift’s Game-Day DiamondsThe artist wore Dana Rebecca Designs’ marquise diamond-set gold hoops at the Chiefs game last Sunday. Now they’re our Piece of the Week.
CrimeSep 24, 2026
From Conclave: Security Measures Jewelers Should Be TakingJSA and Jewelers Mutual shared advice on spotting suspicious behavior, combatting cell phone jammers, and staying safe at home.
AuctionsSep 24, 2026
8-Carat Blue Diamond Heads to UK Jewelry AuctionThe fancy light blue diamond is estimated to fetch up to $2.6 million at Elmwood’s next week.
TrendsSep 24, 2026
This New Jewelry Book Decodes the Secret Meaning in Victorian Jewelry“Secret Language of Victorian Jewelry” unveils the meaning behind the symbols, motifs, and gemstones used in Victorian-era jewelry.
Lab-GrownSep 24, 2026
Kira Jewels Opens B2B E-Commerce Portal for Lab-Grown Diamond Jewelry KIRAJewels.one gives retailers access to more than 500 SKUs of lab-grown diamond rings, earrings, necklaces, and bracelets.
TrendsSep 23, 2026
Holiday Diamond Jewelry Trends: Layered Looks, PersonalizationThis holiday season, look to pieces that will help to fill out customers’ everyday diamond jewelry wardrobe, experts say.
SourcingSep 23, 2026
Organization That Promotes Natural Diamond Rebrands for Third Time The Natural Diamond Council is now The Diamond Collective and has announced a new strategy under CEO Amber Pepper.
IndependentsSep 23, 2026
This Milwaukee-Area Jeweler Is Serving the 7CsPaul’s Jewelers sells coffee, chocolate, and cookies from a custom gold-wrapped trailer parked outside the store starting at 7 a.m.
MajorsSep 23, 2026
Kay Jewelers’ New Campaign Goes ‘All In’ on LovePart of its brand relaunch, the marketing around the campaign includes a contest involving a jacket set with 550 diamonds.
Events & AwardsSep 23, 2026
Tiffany & Co. Exhibition Opening at Arkansas Museum The curation, opening soon at the Crystal Bridges Museum of American Art, honors the jeweler’s heritage through a distinctly American lens.
CollectionsSep 23, 2026
Pucker Up for Pandora’s New Pat McGrath Jewelry CollabThe jewelry giant has partnered with the famed makeup artist to create a colorful new collection of charms and rings.
IndependentsSep 23, 2026
Texas Jewelers Association to Celebrate 120th AnniversaryThe association will mark the milestone at its convention next month.
IndependentsSep 23, 2026
Sissy’s Log Cabin’s ‘Back to School and Bling’ Event ReturnsThe jeweler donated school supplies to Memphis, Tennessee, students during the event combining basketball and mentorship.
MajorsSep 22, 2026
Foundrae’s Lawsuit Against Pandora Can Continue, Court RulesA federal judge denied Pandora’s motion to dismiss Foundrae’s claim for copyright infringement of its medallions.
ColumnistsSep 22, 2026
Peter Smith: Our Struggle With Emotional SellingPeople aren’t thinking rationally when they are buying luxury products, and we shouldn’t be selling them that way, Peter Smith writes.
IndependentsSep 22, 2026
Constance Polamalu Named to '40 Under 40' ListThe Baltimore Business Journal recognized the entrepreneur for her leadership in business and the jewelry industry.
GradingSep 22, 2026
GCAL by Sarine Opens New Lab in MumbaiThe facility is located within SEEPZ and is GCAL by Sarine’s second location in India, joining its existing grading lab in Surat.
