CollectionsApr 03, 2026
Taylor Swift’s ‘Elizabeth Taylor’ Video Puts Jewelry Front and CenterIconic pieces, like the Mike Todd Diamond Tiara, appear in the superstar’s new music video for her song inspired by the actress.
FinancialsNov 19, 2014
Earnings roundup: Chain store sales remain uneven
Third quarter sales were soft for major chain retailers, which are grappling with a lack of compelling product and continued competition from pure-play online retailers.
New York--Third quarter sales were soft for major chain retailers, which are grappling with a lack of compelling product and continued competition from pure-play online retailers.
A number of the country’s largest department store chains, including Macy’s and J.C. Penney, as well as discounters such as Walmart and Kohl’s reported their third quarter earnings in November, just as the all-important holiday season began.
Same-store sales were essentially flat or even down slightly across the board.
In the third quarter:
--The TJX Companies Inc. reported that same-store sales for its Marmaxx (Marshalls and T.J. Maxx) division in the U.S. were up 1 percent. Total sales increased 4 percent from $4.49 to $4.67 billion;
--U.S. same-store sales inched up 1 percent for Target Corp. while total sales also were up 1 percent, from $16.9 to $17.3 billion;
--Macy’s Inc. reported a 1 percent drop in both same-store and total sales, with CEO Terry Lundgren noting that “sales did not live up to our expectations in the quarter”;
--At J.C. Penney Co. Inc., comps were flat while total sales fell 1 percent from $2.78 billion to $2.76 billion. Fine jewelry, along with home goods, was listed as one of the retailer’s top-performing merchandise categories;
--Kohl’s Corp. saw same-store sales drop 2 percent while total sales were down by the same, declining from $4.44 billion to $4.37 billion; and
--Same-store sales for Walmart in the U.S. were up 1 percent (excluding fuel) while total sales (including fuel) rose 3 percent. Sam’s Club reported flat comps with total sales up 2 percent.
Howard Feller, a partner at MMG Advisors, an investment bank specializing in fashion and fashion-related mergers and acquisitions, said department store sales continued to experience an uneven sales cadence; stores will have a few strong weeks followed by an abysmal one.
Also not helping department stores in the third quarter was the release of Apple’s new iPhone, which steered many consumers’ discretionary dollars away from their products.
“The theme really for several months now--this trend dates back to early summer--is that business obviously has been down, but it’s been very choppy,” he said. “Choppy is still the word.”
Many consumers still lack the type of discretionary income needed to generate steady, robust sales at department stores. As a result, the retail environment continues to be very promotional, with suppliers bearing the brunt of the margin erosion in the retail supply chain.
This combined with increasing pressure on the supply side is squeezing suppliers in the middle. Feller said as a result, many suppliers are unable to generate the kind of quality, compelling product needed to attract customers today. As a result, they don’t come into the stores and sales remain stagnant.
“The problem tends to feed on itself,” Feller said. “It become its own virtual circle of declining sales.”
He said he anticipates the highly promotional environment will continue into the fourth quarter for the country’s major department store chains.
More on Financials
The Latest
MajorsApr 03, 2026
Saks Global Says It Will Emerge From Bankruptcy This SummerThe luxury retailer, which went Chapter 11 in January, announced Thursday that it has secured $500 million in exit financing.
Events & AwardsApr 03, 2026
JCK Luxury, NouvelleBox Partner on New Designer BallroomThe NouvelleBox ballroom will feature independent jewelry designers, including Lene Vibe, Wyld Box Jewelry, and Kiaia Limited.
Brought to you by
Protect Your Customers and Your BusinessYou deserve to know what you are selling–to protect your customers as well as your business and your reputation.
CollectionsApr 03, 2026
Buddha Mama Brings Its ‘Moon’ Locket To DallasThe one-of-a-kind locket, our Piece of the Week, opens to reveal three hidden images to keep close to your heart.
Weekly QuizApr 02, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
MajorsApr 02, 2026
Pandora Opens New Canadian Distribution Center Amid Tariff ConcernsThe new facility was also designed to better serve its growing customer base in Canada.
TrendsApr 02, 2026
Michelle Yeoh Fronts New Mikimoto Campaign The campaign is a tribute to the year 1893, when Kokichi Mikimoto created the world’s first cultured pearl.
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.
GradingApr 02, 2026
GIA Debuts New Campus in TaiwanIt is the only GIA school to offer the GIA Graduate Gemologist program in Chinese.
MajorsApr 02, 2026
DCA Launches ‘Second Spark’ Workforce InitiativeThe initiative connects veterans and parents returning to the workforce with careers in jewelry retail.
MajorsApr 02, 2026
Hoover & Strong Names New National Sales RepresentativeThe wholesale manufacturer and precious metals refiner has appointed Michael Angelo as its new national sales representative.
MajorsApr 01, 2026
Foundrae Sues Pandora for Allegedly Copying Its Medallion DesignsFoundrae also accused the jewelry giant of copying its mood board style of marketing.
AuctionsApr 01, 2026
John Jacob Astor IV’s Titanic Pocket Watch Heads to AuctionA Patek Philippe for Tiffany & Co. timepiece owned by the American businessman who died on the Titanic will be offered at Freeman's Chicago.
SurveysApr 01, 2026
Consumers’ Outlook Improves Again in MarchThe Conference Board’s Consumer Confidence Index edged up, with optimism about the present outweighing worries about the future.
IndependentsApr 01, 2026
Zachary’s Jewelers’ Constance Polamalu to Release Children’s BookThe retailer’s Zach Bear gift comes to life in “Zach Bear and the Window Necklace,” which centers on curiosity, bravery, and helping.
Events & AwardsApr 01, 2026
AGA Opens 2026 Gemological Scholarship, Research Grant ApplicationsApplications are open for the AGA Gemological Scholarship Program through May 15, and until June 2027 for the Gemological Research Grant.
ColumnistsMar 31, 2026
Q1 Clues That Reveal Where Your Jewelry Store’s Sales Are Heading These customer behavior patterns say a lot about how successful your jewelry store is going to be this year, Emmanuel Raheb writes.
CollectionsMar 31, 2026
Mejuri Adds Silver to ‘Puzzle’ CollectionMejuri’s popular collection of 18-karat yellow gold vermeil rings debuted in sterling silver alongside new “Puzzle” slider charms.
CollectionsMar 31, 2026
Buddha Mama, Ashley Longshore to Host Pop-Up in DallasThe Miami-based jewelry brand and the NYC-based artist will be in Dallas from April 9-11.
SourcingMar 31, 2026
NDC Designates April 8 as 'World Diamond Day'The initiative invites those in the industry to share stories on social media highlighting the meaning and impact of natural diamonds.
SourcingMar 31, 2026
GIA VP Jillian Wolk to Take Over at Tracr Wolk’s first day on the job as CEO of Tracr, De Beers Group’s blockchain platform, will be May 1.
EditorsMar 30, 2026
Tom Moses Looks Back on His Decades at GIA Moses, who will leave the lab in May after nearly 50 years, discusses his start in the business, gemstones that stand out, and what’s next.
TrendsMar 30, 2026
Oscar Heyman Debuts First Spring CatalogThe new catalog, which showcases 35 one-of-a-kind pieces of jewelry, is a compliment to the company’s popular holiday catalog.
SourcingMar 30, 2026
Rio Tinto Hauls Last Load from DiavikProduction has ceased at the Canadian diamond mine, which has yielded more than 150 million carats of rough diamonds in its 23-year run.
MajorsMar 30, 2026
Tanishq Opens First New England LocationThe store opening marks the 10th United States location for the India-based jewelry retailer.
MajorsMar 27, 2026
Saks Global Has Changed Its Mind About Closing These 3 StoresTwo Saks Fifth Avenue locations, one in Florida and one in California, and one Neiman Marcus store are off the chopping block.
IndependentsMar 27, 2026
Jimmy West, Longtime LJG Executive Director, Dies at 72West, who started in the art department at the Leading Jewelers Guild in 1979, is remembered for his patience, kindness, and dedication.
