MajorsSep 08, 2026
Former Tiffany & Co. Exec Joins Exemplar Luxury GroupGretchen Koback Pursel is the new chief people officer at the company formerly known as Saks Global.
FinancialsMay 18, 2014
Earnings roundup: Kohl’s, JC Penney, Walmart
Despite a dismal winter that hampered many retailers’ sales, J.C. Penney posted relatively strong first quarter same-store sales, with fine jewelry listed as one of its best-selling categories.
New York--Despite a dismal winter that hampered many retailers’ sales, J.C. Penney posted relatively strong first quarter same-store sales, with fine jewelry listed as one of its best-selling categories.
Walmart, meanwhile, had a flat first quarter at its U.S. stores while Kohl’s saw same-store and total sales decline.
Highlights from the first quarter results of all three companies are below.
Walmart
U.S. same-store sales (excluding fuel) were essentially flat in the first quarter ended May 2 for Walmart, as were Sam’s Club sales and the company’s U.S. comps overall.
Net sales for Walmart U.S. rose 2 percent in the first quarter, from $66.55 billion to $67.85 billion.
“Like other retailers in the U.S., the unseasonably cold and disruptive weather negatively impacted U.S. sales and drove operating expenses higher than expected,” said Doug McMillon, president and CEO of Wal-Mart Stores Inc., though he added that the retailer’s underlying business is “solid.”
Walmart said it will continue to invest in its smaller-format Neighborhood Market stores in the U.S.
J.C. Penney
Same-store sales rose 6 percent for J.C. Penney Co. Inc. in what the company described as a “difficult retail environment.”
Total sales also were up 6 percent, from $2.64 billion to $2.80 billion. Net loss, however, climbed from $348 million to $352 million.
In addition to fine jewelry, women’s and men’s apparel and home were the top-performing categories for the retailer.
While gross margin improved year-over-year, increasing from 30.8 percent to 33.1 percent, it is still being impacted by clearance sales, the company said.
“We are very pleased to report that J.C. Penney delivered its second consecutive quarter of comparable store sales growth, as well as continued gross margin improvement,” CEO Myron Ullman III said. “It is clear that our efforts to re-merchandise many areas of the store and revamp our messaging to the customer are taking hold … We expect to carry this momentum into the second quarter as we continue to position the company for long-term profitable growth.”
J.C. Penney forecasts a mid-single-digit increase in same-store sales for the second quarter as well as the full year.
Kohl’s
Kohl’s Corp. saw first quarter same-store decline 3 percent while total sales dropped 3 percent also, from $4.07 billion to $4.12 billion.
Net income was down 15 percent, from $147 million to $129 million.
“We did not achieve our first quarter sales goals but we were encouraged by
the improvement in sales as the quarter progressed. Our teams managed our inventory levels appropriately and expenses were controlled throughout the organization during the quarter,” said Kohl’s Chairman, President and CEO Kevin Mansell.
Kohl’s ended the quarter with 1,160 stores in 49 states, slightly more than it had at the same time last year. The retailer opened four new stores, relocated one and closed two during the first quarter.
More on Financials
The Latest
IndependentsSep 08, 2026
Ricky Bromberg, Longtime President of Bromberg & Co., Dies at 67 Bromberg is remembered as a Southern gentleman who always wore a suit and tie and treated others with kindness.
TrendsSep 08, 2026
Amanda’s Style File: A Hot Take on September’s Birthstone With high durability and a wide range of colors to choose from, sapphires may be the ultimate birthstone, Gizzi claims.
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.
ColumnistsSep 08, 2026
Peter Smith: Humor Is No Laughing MatterLaughter is often considered a distraction in the workplace, but it has benefits for both staff and management, Peter Smith writes.
Weekly QuizSep 03, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
IndependentsSep 04, 2026
Orloff Jewelers Will Soon Unveil a Bigger, Better LocationThe California jeweler is renovating its store in Fresno, with plans to show off the new space in December.
CollectionsSep 04, 2026
Chelsea Gabrielle Transforms Pilates Reformer Springs Into Ring A lifelong practitioner of Pilates, Gabrielle looked to the springs’ tension and suspension when creating this ring, our Piece of the Week.
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.
Events & AwardsSep 04, 2026
JCK Industry Fund Accepting 2027 ApplicationsThe deadline to apply is Nov. 13.
AuctionsSep 04, 2026
Christie's Names New Global Head of WatchesThe auction house has promoted Remi Guillemin, formerly its head of watches for the Americas and EMEA, to the role.
EditorsSep 03, 2026
Q&A: Simon G.’s CEO on Why He Won’t Use AI for Jewelry DesignZaven Ghanimian discussed the value of human craftsmanship and where the implementation of artificial intelligence does work.
Events & AwardsSep 03, 2026
Here Are the First Recipients of Nina Pugliese Memorial Scholarship Jewelers of America also revealed the recipients of the Seymour & Evelyn Holtzman Bench Scholarship and its own scholarship programs.
WatchesSep 03, 2026
Robert Pattinson Joins Jaeger-LeCoultre as Brand AmbassadorThe British actor, known for his roles in “Twilight” and “The Odyssey,” will star in a campaign for the Master Control Chronometre.
CollectionsSep 03, 2026
Sydney Evan Celebrates 25 Years With 4 New CollectionsThe “Confetti Disco,” “Champagne Cheers,” “Tuxedo,” and “Classic Punk” jewelry collections each capture a distinct spirit of celebration.
CrimeSep 02, 2026
CA Jeweler Gets 5 Years in ‘Phantom Rolex’ Ponzi SchemeNelson Holdo of Newport Beach pleaded guilty to multiple counts of felony grand theft and writing bad checks and was sentenced Monday.
AuctionsSep 02, 2026
If You Love Cats, This Jewelry Auction Is for YouCat ladies of the jewelry world, unite. Sandy Lerner’s “significant” collection of cat jewelry and other objects is going up for auction.
MajorsSep 02, 2026
Messika Names Former Omega Exec as New President, CEO of AmericasArnaud Michon, the former Omega USA President, will now lead Messika’s Americas region during its international development.
Events & AwardsSep 02, 2026
Emerald’s New Owner Introduces ‘Glitter in the Grove’The branding references the back-to-back jewelry shows that new parent company Forge will host in Miami's Coconut Grove this November.
AuctionsSep 01, 2026
UK Woman Uncovers Rare Patek Philippe Watch in Mom’s Jewelry BoxThe stainless steel Patek Philippe “Calatrava” watch from the 1930s sold for nearly $80,000 at a recent Hansons Cornwall auction.
ColumnistsSep 01, 2026
Your Jewelry Marketing Has a Bridal ProblemEngagement rings are important but don’t ignore the customers who are buying jewelry “just because,” Emmanuel Raheb writes.
MajorsSep 01, 2026
Kering Names New Pomellato, DoDo CEOsFormer Pomellato CEO Sabina Belli has been named president of Kering Italia amid a shakeup of Kering's new Jewelry division.
MajorsSep 01, 2026
Anne Marie Shulman Joins GPA GlobalThe veteran luxury packaging executive was appointed to help the company grow its North American business.
CrimeAug 31, 2026
$4M Van Cleef & Arpels Diamond Necklace Snatched From Vienna Museum Once the property of an Egyptian queen, the necklace was part of a larger exhibition of VCA jewelry at the Museum of Applied Arts (MAK).
GradingAug 31, 2026
GIA, Gübelin Gem Lab Confirm New Paraíba Tourmaline Deposit in EthiopiaThe labs’ separate investigations each determined that the East African country is producing copper-bearing tourmaline.
Events & AwardsAug 31, 2026
Wisconsin Museum to Host Jewelry Exhibition“Chicago Collects: Jewelry in Perspective” at the Oshkosh Public Museum will feature works by Fabergé, Lalique, and Louis Comfort Tiffany.
CollectionsAug 31, 2026
Catbird Launches First Men’s Jewelry CollectionThe “Worn Well” collection is Catbird's take on classic men's jewelry.
CollectionsAug 28, 2026
Dolly Parton Would Have Loved This Butterfly Necklace This Buddha Mama butterfly is our Piece of the Week honoring the legend, who embraced the beautiful insect as her symbol.
