Policies & IssuesFeb 24, 2026
IEEPA Tariffs Terminated, New 10% Tariff Already ImposedAfter the Supreme Court struck down the IEEPA tariffs, President Trump imposed a 10 percent tax on almost all imports via a different law.
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
IndependentsFeb 24, 2026
Sherry Smith Now Principal Partner at The Retail SmithsThe industry veteran, who was with The Edge Retail Academy for 14 years, joins her husband at the company he founded in 2022.
IndependentsFeb 24, 2026
Yafa Signed Jewels to Open Store in MiamiThe vintage signed jewelry retailer chose Miami due to growing client demand in the city and the greater Latin American region.
Brought to you by
DCA Enters a New Chapter in Jewelry EducationWith refreshed branding, a new website, updated courses, and a pathway for growth, DCA is dedicated to supporting retail staff development.
WatchesFeb 24, 2026
Chrono24 Names New VP, U.S. General ManagerFormer Flight Club executive Jin Lee will bring his experience from the sneaker world to the pre-owned watch marketplace.
Weekly QuizFeb 19, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
SourcingFeb 23, 2026
Designer Eddie Sakamoto, a Humble Artist, Dies at 72Sakamoto, who died in mid-January following a sudden illness, is remembered for his humility and his masterful, architectural designs.
Events & AwardsFeb 23, 2026
NYCJAOS Announces Four-Day Spring ShowThe April event will feature a new VIP shopping day requiring a special ticket.
Brought to you by
The MJSA Mentor & Apprenticeship Program: Attracting & Training the Next Generation of Bench JewelersLaunched in 2023, the program will help the passing of knowledge between generations and alleviate the shortage of bench jewelers.
TrendsFeb 23, 2026
Dua Lipa Is Bulgari’s New AmbassadorBulgari chose the British-Albanian singer-songwriter for her powerful and enduring voice in contemporary culture, the jeweler said.
Policies & IssuesFeb 20, 2026
Supreme Court Rules Against Most of President Trump’s TariffsIn a 6-3 ruling, the court said the president exceeded his authority when imposing sweeping tariffs under IEEPA.
ColumnistsFeb 20, 2026
Peter Smith: Happiness, Cavemen, and Jewelry SalesSmith encourages salespeople to ask customers questions that elicit the release of oxytocin, the brain’s “feel-good” chemical.
MajorsFeb 20, 2026
Jewelers Vigilance Committee Names Julie Yoakum Board ChairJVC also announced the election of five new board members.
CollectionsFeb 20, 2026
Boucheron’s ‘Faisceaux’ Brooch Heads to V&A MuseumThe brooch, our Piece of the Week, shows the chromatic spectrum through a holographic coating on rock crystal.
IndependentsFeb 19, 2026
Bailey’s Fine Jewelry Co-Founder ‘Mama Ann’ Bailey Dies at 100Raised in an orphanage, Bailey was 18 when she met her husband, Clyde. They opened their North Carolina jewelry store in 1948.
IndependentsFeb 19, 2026
Material Good Opens Third Location Material Good is celebrating its 10th anniversary as it opens its new store in the Back Bay neighborhood of Boston.
Events & AwardsFeb 19, 2026
The Original Miami Beach Antique Show Returns in MarchThe show will be held March 26-30 at the Miami Beach Convention Center.
AuctionsFeb 18, 2026
Joanna Carson’s Jewels Head to AuctionThe estate of the model, philanthropist, and ex-wife of Johnny Carson has signed statement jewels up for sale at John Moran Auctioneers.
PodcastsFeb 18, 2026
Episode 2: Jewelry Trends & Does the Red Carpet Matter?Are arm bands poised to make a comeback? Has red-carpet jewelry become boring? Find out on the second episode of the “My Next Question” podcast.
MajorsFeb 18, 2026
Select Jewelry Inks Agreement to Distribute Lightweight Gold JewelryIt will lead distribution in North America for Graziella Braccialini's new gold pieces, which it said are 50 percent lighter.
Policies & IssuesFeb 18, 2026
Community for Ethical Jewelry Looks for Executive DirectorThe organization is seeking a new executive director to lead it into its next phase of strategic growth and industry influence.
Events & AwardsFeb 18, 2026
DCA to Host Gemstone Selling Education Session at IJO EventThe nonprofit will present a live, two-hour introductory course on building confidence when selling colored gemstones.
TrendsFeb 17, 2026
A Bit of Jewelry for the Year of the HorseWestern wear continues to trend in the Year of the Fire Horse and along with it, horse and horseshoe motifs in jewelry.
SourcingFeb 17, 2026
Colored Gemstone Experts Talk Tariffs, Trends in TucsonAlthough the market is robust, tariffs and precious metal prices are impacting the industry, Stuart Robertson and Brecken Branstrator said.
GradingFeb 17, 2026
Dr. George Rossman, Former GIA Governor, Dies at 81Rossman, who advised GIA for more than 50 years, is remembered for his passion and dedication to the field of gemology.
CrimeFeb 13, 2026
JSA Offering $10K Reward in Nancy Guthrie Case Guthrie, the mother of “Today” show host Savannah Guthrie, was abducted just as the Tucson gem shows were starting.
IndependentsFeb 13, 2026
97-Year-Old New Mexico Jewelry Store To CloseButterfield Jewelers in Albuquerque, New Mexico, is preparing to close as members of the Butterfield family head into retirement.
CollectionsFeb 13, 2026
A ‘Rosebud’ Necklace for Valentine’s DayPaul Morelli’s “Rosebud” necklace, our Piece of the Week, uses 18-karat rose, green, and white gold to turn the symbol of love into jewelry.
