CrimeAug 18, 2026
2 California Men Arrested in Fatal Vehicle Smash RobberyOne is the driver who allegedly crashed a car into a Sacramento jewelry store in April, striking a 71-year-old employee who later died.
FinancialsFeb 26, 2014
Earnings roundup: JC Penney, Target, more
Both J.C. Penney and T.J. Maxx/Marshalls recorded same-store sales increases in the fourth quarter while Target’s quarterly comps fell in the wake of the massive data breach that impacted millions of customers.
New York--Both J.C. Penney and T.J. Maxx/Marshalls recorded same-store sales increases in the fourth quarter while Target’s quarterly comps fell in the wake of the massive data breach that impacted millions of customers.
For struggling J.C. Penney, the 2 percent increase in fourth quarter comps, spurred by a 3 percent increase in November-December sales, represented “solid progress despite (a) challenging retail environment,” and the company’s CEO stated that the most “challenging and expensive” parts of the company’s turnaround are now behind them.
Target, meanwhile, is dealing with soft sales that weren’t helped when hackers got into its computer systems during the holiday shopping season and stole the credit card data of millions of customers nationwide. WWD reported Wednesday that the pressure is mounting on Target’s CEO to fix what ails the retailer.
Below are highlights from the financial results released Wednesday by all three retailers, which are among the nation’s largest sellers of fine jewelry.
J.C. Penney
Same-store sales increased 2 percent year-over-year in the fourth quarter ended Feb. 1 while total sales fell 3 percent, from $3.88 billion to $3.78 billion. Online sales climbed 26 percent year-over-year.
The company said its best-selling categories were home, men’s apparel, women’s accessories and its in-store Sephora shops.
Operating loss fell from $745 million to $138 million during the quarter.
For the full year, results were not as strong. Same-store sales declined 7 percent while total sales fell from $12.99 billion to $11.86 billion, a 9 percent drop. Internet sales were up 6 percent year-over-year.
Operating loss increased from $1.31 billion to $1.42 billion.
Commenting on the retailer’s results, CEO Myron Ullman III said “J.C. Penney achieved what it set out to do on a number of important fronts in 2013. We stabilized our business, both financially and operationally, and restored our process disciplines, promotions, inventory levels and focus on the customer. As a result, we generated positive comparable store sales in the fourth quarter and ended the year with more than $2 billion in total available liquidity. These important accomplishments reflect the progress we have made in our turnaround, which remains on course heading into 2014.”
For 2014, J.C. Penney said it expects same-store sales to increase in the mid-single digits, a significant improvement in gross margin and to have more than $2 billion in liquidity by year’s end.
Target Corp.
Fourth quarter same-store sales in the U.S.
Editors' Picks
Sponsored by
fell 3 percent year-over-year for Target, dragged down by the late November theft of millions of guests’ credit and debit card data. Total sales dropped 7 percent, from $22.4 billion to $20.9 billion.
RELATED CONTENT: 40M could be impacted by Target data breach
Gross margin slipped slightly, from 27.8 percent to 27.6 percent, due in part to clearance markdowns.
For the year, U.S. same-store sales were down 0.4 percent year-over-year while total sales declined 0.9 percent, from $72 billion to $71.3 billion. Full-year gross margin rate was up slightly, from 29.7 percent to 29.8 percent.
Target opened stores in Canada in 2013 but not until later in 2013, so those stores’ results are not included in the retailer’s year-over-year comparisons.
“During the first half of the fourth quarter, our guest-focused holiday merchandising and marketing plans drove better-than-expected sales. However, results softened meaningfully following our December announcement of a data breach,” said Gregg Steinhafel, Target’s chairman, president and CEO.
He added that the retailer is “encouraged” by the sales trends it has seen in recent weeks.
T.J. Maxx
U.S. same-store sales rose 3 percent year-over-year in the fourth quarter ended Feb. 1 for T.J. Maxx and Marshalls stores, parent company The TJX Companies Inc. said. Total sales in the period were up less than one percent, increasing from $4.99 billion to $5.01 billion.
For the fiscal year, U.S. same-store sales for T.J. Maxx and Marshalls were up 3 percent while total sales rose from $17.01 billion to $17.93 billion, a 5 percent increase.
As whole, the company, which also operates T.J. Maxx stores in Europe and Canada as well as HomeGoods stores, reported a 3 percent year-over-year increase in same-store sales in the fourth quarter while total sales rose 1 percent from $7.72 billion to $7.80 billion.
For the full year, same-store sales were up 3 percent while total sales climbed 6 percent from $25.89 billion to $27.42 billion.
“In the U.S., Marmaxx and HomeGoods continued their excellent, consistent performance. We also successfully launched TJMaxx.com,” said CEO Carol Meyrowitz. “We delivered these results in a competitive retail environment and despite generally unfavorable weather in many of our regions during the first and fourth quarters. We believe this speaks to the resiliency and flexibility of our off-price model.”
The retailer anticipates same-store sales growth of 1 to 2 percent for the first quarter and fiscal year.
More on Financials
The Latest
ColumnistsAug 18, 2026
Peter Smith: The IKEA Effect and Bridal Branding In a new column, Peter Smith posits that people actually enjoy putting together IKEA furniture, and the same is true for engagement rings.
CrimeAug 18, 2026
Thieves Snatch $1M in Jewelry From New Jersey Jeweler9lakha Jewelers in Iselin, New Jersey, was the target of a smash-and-grab robbery on Aug. 8.
Brought to you by
Why More Jewelry Retailers Are Hosting Turnkey Estate Buying EventsRetailers are seeking new ways to attract customers, increase traffic, and create revenue – Estate buying events are a popular solution.
Lab-GrownAug 18, 2026
Ring Concierge, Kendall Jenner Collab on Bridal Earrings GiveawayThe jeweler has partnered with Jenner’s 818 Tequila brand to gift lab-grown diamond studs to a bride-to-be and their bridal party.
Weekly QuizAug 13, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Events & AwardsAug 17, 2026
Exhibition on Louis Comfort Tiffany’s Studios to Open at The MetThe exhibition will feature more than 100 drawings of stained-glass lampshades, windows, and more, many created by women and émigrés.
CollectionsAug 17, 2026
Marquise Diamonds Dance in Spinelli Kilcollin’s ‘Wren’ CollectionMarquise-cut diamonds in drop charms are the center of the new collection, reflecting the movement of a dancer in modular styles.
Brought to you by
Wedding Band Trends 2026: Personalization Takes Center StageColored gemstones, artisan finishes, mixed metals, and meaningful details are shaping demand in bridal jewelry.
Events & AwardsAug 17, 2026
There’s a New Jewelry Show Coming to FloridaThe inaugural Fort Lauderdale Jewelry, Antique, & Object Show will be held from Jan. 28 through Feb. 1, 2027.
IndependentsAug 14, 2026
Smyth Jewelers to Open Fourth LocationThe family-owned jeweler will open a new showroom in Bel Air, Maryland, this fall.
CrimeAug 14, 2026
Wife of Man Convicted in Jeweler’s Murder Sentenced for Conspiracy Amanda Ileana Hernandez is married to Carlos Hernandez, one of two men in prison for the 2024 murder of Michigan jeweler Hussein Murray.
TrendsAug 14, 2026
Paul Morelli’s Latest ‘Wavey Vine’ Earrings Embrace ColorThe reimagined jewel, our Piece of the Week, trades the diamonds in the original 1998 design for blue, pink, yellow, and green sapphires.
Supplier BulletinAug 13, 2026
Your Piece Could Be the One Editors Talk AboutSponsored by American Gem Trade Association
AuctionsAug 13, 2026
This Gold Cadbury ‘Conundrum’ Egg Set a World Auction RecordThe 22-karat gold egg, sold at Batemans Auctioneers in the U.K., was part of a 1980s treasure hunt ad campaign for Cadbury Creme Eggs.
SourcingAug 13, 2026
2,488-Carat Diamond, Largest Found in Botswana, Has a New Owner Lucara Diamond Corp., which recovered the “Motswedi” diamond from the Karowe mine, sold the stone for an undisclosed amount.
CollectionsAug 13, 2026
John Hardy Infuses ‘Icon,’ ‘Heishi’ Collections with ColorThe expanded collections now feature hand-cut gemstones like topaz, tanzanite, chrysoprase, chalcedony, smoky quartz, and fire opal.
Lab-GrownAug 13, 2026
Jean Dousset Opens Third StoreThe lab-grown diamond jewelry brand’s newest boutique is in Westfield Valley Fair in Santa Clara, California.
SourcingAug 12, 2026
Eshed-Gemstar on the Painstaking Process of Cutting ‘The Legacy Emerald’The gemstone supplier and manufacturer acquired the remarkable 104-gram Zambian emerald at Gemfields’ auction in May.
CrimeAug 12, 2026
Elderly NYC Woman Targeted in Jewelry Swap SchemeTwo suspects offered to trade the woman a “winning” lottery ticket for her jewelry.
SourcingAug 12, 2026
Another Diamond Mine Poised to CloseFinsch has been in business rescue since May, and owner Petra Diamonds said it sees no viable path forward for the mine.
CrimeAug 12, 2026
Jewelry Store Employee Gets 20 Years to Life in Choking Death of BossMichel Patrick DeSalles was sentenced after pleading guilty to the 2017 murder of Omid Gholian, who owned a jewelry store in Manhattan.
MajorsAug 12, 2026
Frederick Goldman Names New SVP of SalesLongtime industry executive Beth Miller has taken on the role.
AuctionsAug 11, 2026
Verdura Unicorn Brooch With Royal Connection Up for Auction The brooch was owned by Virginia Fortune Ryan Ogilvy, who served as a lady of the bedchamber to Queen Elizabeth II for nearly 50 years.
MajorsAug 11, 2026
Signet Jewelers Selects Mattel Exec to Lead Zales, BanterJamie Cygielman will take on the role on Aug. 24.
IndependentsAug 11, 2026
Polly’s Fine Jewelry Co-Owner Richard Moore Dies at 69Moore, Polly’s husband, is remembered as a family man with an easygoing spirit and a love for sports and the outdoors.
ColumnistsAug 11, 2026
Creative Connecting: How to Sell Colored Gemstones to Gen ZDuvall O’Steen and Jen Cullen Williams share the best ways to display, present, and explain colored gemstones to younger customers.
Events & AwardsAug 11, 2026
NAJA Announces Lineup For 2026 Fall Virtual ConferenceThe mid-year conference for jewelry and watch appraisers will take place Sept. 5-6 on Zoom.
