ColumnistsMay 26, 2026
The Key Mindset for Better Trade Show BuyingBuying discipline at trade shows starts with clarity about your inventory levels, Smith writes.
FinancialsNov 20, 2013
Earnings roundup: Jewelry does well at JC Penney
Fine jewelry was one of the top sellers at J.C. Penney in the third quarter, a quarter in which the retailer saw signs of improvement, recording its first same-store sales increase in almost two years.
New York--Fine jewelry was one of the top sellers at J.C. Penney in the third quarter, a quarter in which the retailer saw signs of improvement, recording its first same-store sales increase in almost two years.
Quarterly same-store sales fell but comps trended up in October, and J.C. Penney CEO Myron Ullman III said they are “encouraged” by sales results in the early weeks of November.
Highlights from J.C. Penney’s financial results for the third quarter, as well as quarterly results for T.J. Maxx and Marshalls and Target, are below.
J.C. Penney
Same-store sales fell 5 percent in the third quarter ended Nov. 2 for J.C. Penney Co. Inc., compared with a comp decline of 26 percent in the third quarter 2012.
J.C. Penney said the quarter ended with a same-store sales increase of 0.9 percent in October, as previously announced, and sales improved each month during the quarter.
Total sales fell 5 percent from $2.93 billion to $2.78 billion. Online sales totaled $266 million, up 25 percent year-over-year. In addition to fine jewelry, women’s and men’s apparel were the company’s top performing divisions.
Net loss more than tripled, growing from $123 million to $489 million. Gross margin fell from 32.5 percent to 29.5 percent due to clearance sales and the return of sales in general, which disappeared temporarily under former CEO Ron Johnson.
“Our strategies to reconnect with customers are beginning to take hold, and this became increasingly clear as the quarter progressed,” Ullman said. “We are proud of the company’s October sales performance, encouraged by the early weeks of November, and believe we are making strides toward a path to long-term profitable growth.”
The company expects positive same-store sales for the fourth quarter.
The TJX Companies
Marmaxx, the division of the TJX Companies Inc. that operates T.J. Maxx and Marshalls stores in the U.S., reported a 4 percent increase in same-store sales in the third quarter ended Nov. 2. Total sales were up 8 percent from $4.16 to $4.48 billion.
Total same-store sales for the TJX Companies, counting its stores in Europe and Canada, increased 5 percent while total sales hit $6.98 billion, up from $6.41 billion in the prior-year period, a 9 percent increase.
Net income for the third quarter rose from $461.5 million last year to $622.7 million this year.
CEO Carol Meyrowitz called the company’s third quarter results “robust” and said
the company now expects its fiscal year same-store sales to increase 3 percent based on its third quarter performance.
The company, however, expects same-store sales to grow only 1 to 2 percent in the fourth quarter due to the holiday shopping period being six days shorter this year.
T.J. Maxx ended the quarter with 1,075 stores in the U.S., up from 1,052, while Marshalls now has 941 locations, up from 914.
The company said it plans to eventually have a total of 3,000 stores in its Marmaxx division in the U.S. and a total of 450 Winners, HomeSense and Marshalls stores in Canada, up from 325 now.
Target
United States same-store sales essentially were flat in the third quarter for Target Corp. while total sales increased 2 percent from $16.6 billion to $16.9 billion. Seasonal markdowns led to a decrease in the gross margin rate, from 30.3 to 30 percent.
Target began opening stores in Canada this fiscal year, with sales reaching $333 million at a gross margin rate of 14.8 percent due to the clearance of excess inventory.
Total sales, including both stores in the U.S. and Canada, reached $17.26 billion, up 4 percent from $16.60 billion.
Target opened a total of 32 stores in the third quarter, nine in the U.S. and 23 in Canada. The Minneapolis-based retailer announced earlier this month that all of the Canadian stores scheduled to open this year will be operational by the end of this week. Target will have 124 stores in the country by years’ end.
More on Financials
The Latest
Events & AwardsMay 26, 2026
12 JCK Talks Sessions to Add to Your Las Vegas ScheduleThe trade show’s education series returns, with sessions on retail trends, AI, watches, marketing, corporate responsibility, and more.
Events & AwardsMay 26, 2026
CBG Brings Its Curated Designer Project to Las Vegas ShowThe Curated Designer Project has expanded to highlight eight independent jewelry designers during CBG’s Las Vegas show.
Brought to you by
All Eyes on Gold Prices. Alternatives to Look For. And What to BEWARE of in VegasAs gold prices rise, today’s retailers are looking for alternatives at prices that will appeal to wider audiences.
TrendsMay 26, 2026
Amanda’s Style File: A Cooldown Is ComingBring a cool tone to your summer jewelry with these white metal pieces.
Weekly QuizMay 21, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Events & AwardsMay 22, 2026
Instore Buys JA New York ShowThe deal closed this week, which means Instore will produce the JA NY show slated to take place this fall.
CollectionsMay 22, 2026
Leigh Maxwell Celebrates 5 Years at Couture With ‘Bauble’ CollectionThe “Bauble” capsule collection of colorful one-of-a-kinds includes our Piece of the Week, the “Bauble” earrings, featuring rose zircon.
Brought to you by
How Modern Training Is Becoming a Competitive Advantage for Jewelry RetailersWith the trade and customer trust in mind, GIA® developed NextGem™ – on-demand training designed specifically for retail.
MajorsMay 22, 2026
Stuller’s New Packaging, Display Catalog Is Out The updated catalog has a newly dedicated section for gift wrapping.
PodcastsMay 21, 2026
Episode 5: Sotheby’s Frank Everett Puts the Auction Market in PerspectiveEverett covers colored stones’ surging popularity, the mellow return of the “Mellon Blue,” and his “The Devil Wears Prada” doppelgänger.
IndependentsMay 21, 2026
Springer’s Jewelers’ New Flagship Will Serve Next-Gen Luxury ShoppersFourth-generation CEO Lilly Mullen wants to emphasize experience, connection, and personalized service.
Events & AwardsMay 21, 2026
JA Announces Nina Pugliese Memorial ScholarshipThe new award, created in partnership with Henne Jewelers, honors the late designer’s legacy through supporting jewelry education.
SourcingMay 21, 2026
Botswana, Angola Join WFDBThe addition of the diamond-producing countries as nation affiliated members broadens the federation’s global representation, WFDB said.
CrimeMay 20, 2026
NYPD Warns of Jewelry Swap Scams Targeting SeniorsThe NYPD is warning elderly New Yorkers to keep their jewelry hidden when walking outside to avoid being a target.
IndependentsMay 20, 2026
Adornment & Theory’s New Store Feels Like Home Designer Viviana Langhoff has realized her dream of owning a space for her Chicago jewelry store that looks and feels like her brand.
Events & AwardsMay 20, 2026
Here Is Couture’s 2026 Education Lineup The sessions will run from Friday, May 29, to Sunday, May 31, with one being a live taping of an episode of Couture’s podcast.
Lab-GrownMay 20, 2026
Savannah Friedkin Jewelry Names New CEOFormer Stephanie Gottlieb Fine Jewelry executive Morgan P. Richardson is joining the lab-grown diamond jewelry brand.
WatchesMay 19, 2026
Here’s the AP x Swatch Pocket Watch That Caused PandemoniumThe $400 pocket watch is a blend of Audemars Piguet’s iconic eight-sided Royal Oak and Swatch’s unserious Pop watches from the ‘80s.
CollectionsMay 19, 2026
Chris Ploof’s New Collection Makes an Ancient Metal ModernWith gold prices on the rise, the “Modern Electrum” collection uses an alternative, non-tarnishing metal alloy composed of gold and silver.
IndependentsMay 19, 2026
Ellen and Michael Fruchtman Retire, Sell Marketing Agency Fruchtman Marketing has new owners, Erin Moyer-Carballea and Manuel Carballea, and will relocate to Miami.
ColumnistsMay 19, 2026
Peter Smith: The (Mostly) Immutable Sales TruthsIn a column for the 2026 State of the Majors issue, Smith lists 10 time-tested principles about sales that still ring true.
ColumnistsMay 18, 2026
Edahn Golan: What a K-Shaped Economy Means for Fine JewelryIn a column for the 2026 State of the Majors issue, Golan spells out how the growing economic divide in the U.S. is reshaping the market.
CollectionsMay 18, 2026
Foundrae’s New Collection Taps Into JoyThe “Limitless Expansion of Joy and Hope” collection evokes summer through colored gemstones and motifs of butterflies and florals.
CollectionsMay 18, 2026
Hancocks London Acquires Historic ‘Inchiquin’ EmeraldThe jewel, circa 1890, is from the late Victorian era and was owned by descendants of the last high king of Ireland.
Events & AwardsMay 18, 2026
Here Are the 2026 JCK Industry Fund Grant Recipients This is what the nine recipients plan to do with the funds.
AuctionsMay 15, 2026
American Collector Ponies Up Almost $17K for John Wayne’s RingThe Western star’s 14-karat gold signet ring sold for six times its low estimate following a bidding war at U.K. auction house Elmwood’s.
Events & AwardsMay 15, 2026
JA, MJSA To Sponsor Roundtable at TJSThe discussion, "Rebuilding the Jewelry Workforce," will take place on Saturday, May 16, in Troy, Michigan.
