AuctionsDec 18, 2025
Audemars Piguet Reclaims Historic Pocket Watch at AuctionIt purchased the “Grosse Pièce,” an ultra-complicated Audemars Piguet pocket watch from the ‘20s, for a record-breaking price at Sotheby’s.
FinancialsFeb 09, 2016
Department stores don’t dazzle in Q2
J.C. Penney and Nordstrom reported modest gains in same-store sales while Macy’s saw its comps slip and Kohl’s came in flat.
The fine jewelry department of the J.C. Penney store in Brooklyn, N.Y; the retailer reported another quarter of “improved performance” in Q2, with fine jewelry sales leading the way.
New York--J.C. Penney and Nordstrom reported modest gains in same-store sales in the second quarter while Macy’s saw its comps slip and Kohl’s came in flat.
Department store chains are facing the same problems as all retailers--consumers are spending more selectively and, when they do decide to part with their money, have more choices about where to do so. In this particular second quarter, there was Amazon’s first Prime Day sales event with which to contend.
This trend has the big chains pouring money into customer-facing services such as same-day delivery for online purchases, the option to pick up in-store and, to accommodate today’s deal-minded consumer, opening more off-price outlets. Macy’s, in fact, is launching an entire new chain of stores dedicated to discounted merchandise, Macy’s Backstage.
Highlights from J.C. Penney, Macy’s, Nordstrom and Kohl’s second quarter results, which came in last week, are below.
J.C. Penney Co. Inc.
Same-store sales increased 4 percent in the second quarter ended Aug. 1 with Fine Jewelry, which is headed by Pam Mortensen, named as one of the company’s top-performing merchandise divisions. The others were the Sephora shop-in-shops, Men’s and Home.
Net sales reached $2.88 billion, a 3 percent increase from the second quarter 2014. Gross margin rose slightly, from 36 to 37 percent of sales.
CEO Marvin Ellison said the fact that the retailer logged another quarter of improved performance was due to the “commitment and diligence of the J.C. Penney team.”
Macy’s Inc.
In a “disappointing” second quarter, same-store sales on an owned plus licensed basis were down 2 percent year-over-year.
Total sales were down 3 percent, from $6.27 billion to $6.10 billion. Gross margin was down slightly, from 41.4 percent of net sales to 40.9 percent.
CEO and Chairman Terry J. Lundgren said the retailer was “disappointed” by its second quarter results.
The reasons named were the removal of a Friends & Family event from the Macy’s calendar in Q2; the West Coast port slowdown, which pushed planned markdowns into the second quarter to clear merchandise that arrived late; the strong U.S. dollar negatively impacting tourist spending; and “restrained” overall consumer demand.
In the fall, Macy’s plans to open a location in Ponce, Puerto Rico, a Bloomingdale’s in Honolulu, six Macy’s Backstage stores, one Bloomingdale’s Outlet and 10 Bluemercy stores. Bluemercury is a chain of beauty/spa stores Macy’s acquired in March.
The retailer will close a
store in downtown Los Angeles to build a new store in the same mall.
Nordstrom Inc.
Nordstrom’s same-store sales were up 5 percent year-over-year in the second quarter ended Aug. 1. The company’s Anniversary Sale, its largest promotional event of the year, took place in the second quarter and met company expectations.
Total sales for Nordstrom increased 9 percent in the quarter, from $3.3 billion to $3.6 billion. Its entry into Canada, opening of NordstromRack.com and acquisition of Trunk Club, a personal shopping site for men, drove more than a third of sales growth.
Gross profit as a percentage of net sales remained unchanged at 35.4 percent.
Nordstrom said in the third quarter, it plans to open full-line Nordstrom stores in Vancouver, British Columbia, Minneapolis and Milwaukee, relocate a store in Los Angeles and open 16 Nordstrom Rack stores.
Kohl’s Corp.
Both same-store and total sales were flat essentially in the second quarter ended Aug. 1.
Sales reached $4.27 billion compared with $4.24 billion in the second quarter 2014. Gross margin was 38.9 percent, compared with 39 percent a year ago.
Chairman, CEO and President Kevin Mansell said second quarter sales fell short of expectations. He blamed the shortfall on the shift of back-to-school special sales events in tax-free states from July into August.
Kohl’s ended the quarter with 1,164 stores in 49 states, up slightly from 1,160 stores a year ago.
More on Financials
The Latest
EditorsDec 18, 2025
Terry Chandler Looks Back on 40 Years of Opportunity, Change, and FriendsChandler got his start at Michelson Jewelers and has served as DCA president and CEO since 2001. He will retire at the end of the month.
Supplier BulletinDec 18, 2025
Cell Jammers Are Targeting Your Business. Here's How to Beat ThemSponsored by Digital Monitoring Products
Brought to you by
Impacting Tomorrow TodayHow Jewelers of America’s 20 Under 40 are leading to ensure a brighter future for the jewelry industry.
WatchesDec 18, 2025
Bob’s Watches to Open Store in New York’s JFK AirportThe boutique is slated to open this week inside Terminal 8, offering pre-owned Rolex watches and more to international travelers.
Weekly QuizDec 18, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Lab-GrownDec 18, 2025
Kira Jewels Debuts Custom Lab-Grown Diamond Jewelry ServiceThe lab-grown diamond grower now offers custom engagement and fashion jewelry through its Kira Custom Lab Jewelry service.
CrimeDec 17, 2025
Man Pleads Not Guilty to Swallowing Fabergé PendantThe special-edition egg pendant ingested in a New Zealand jewelry store was recovered after a six-day wait.
Brought to you by
Roseco Releases New Full-Line CatalogRoseco’s 704-page catalog showcases new lab-grown diamonds, findings, tools & more—available in print or interactive digital editions.
EditorsDec 17, 2025
2025 Jewelry Rewind: The Best Piece of the Week PicksAssociate Editor Natalie Francisco plays favorites with Piece of the Week, selecting a standout piece of jewelry from each month of 2025.
CollectionsDec 17, 2025
Lucy Hale Stars in Jacquie Aiche’s Holiday CampaignThe “Love and Desire” campaign is inspired by the magic that follows when one’s heart leads the way, said the brand.
GradingDec 17, 2025
SSEF Announces 2025 Scholarship WinnersTwo awardees will receive free tuition for an educational course at the Swiss lab, with flights and lodging included.
MajorsDec 16, 2025
Pandora’s New CEO Will Step Up EarlyBerta de Pablos-Barbier will replace Alexander Lacik at the start of January, two months earlier than expected.
AuctionsDec 16, 2025
Suzanne Belperron, JAR Shine in Sotheby’s First Auctions at New HQSotheby’s held its first two jewelry sales at the Breuer building last week, and they totaled nearly $44 million.
Events & AwardsDec 16, 2025
TJS Now Accepting Scholarship Applications for 2026Winners will receive free registration and lodging for its fourth annual event in Detroit.
ColumnistsDec 16, 2025
Beyond Unboxing: Creative Reveals to Drive Reach and EngagementHere are six ideas for making more engaging content for Instagram Reels and TikTok, courtesy of Duvall O’Steen and Jen Cullen Williams.
Events & AwardsDec 16, 2025
Diamonds Do Good Names 2026 Award RecipientsThe honorees include a notable jewelry brand, an industry veteran, and an independent retailer.
CrimeDec 15, 2025
Men Receive Life Sentences in Home Invasion Murder of Jeweler Carlos Jose Hernandez and Joshua Zuazo were sentenced to life without the possibility of parole in the 2024 murder of Hussein “Sam” Murray.
Policies & IssuesDec 15, 2025
Sara Yood Named Co-Chair of RJC Standards CommitteeYood will serve alongside Eduard Stefanescu, the sustainability manager for C.Hafner, a precious metals refiner in Germany.
IndependentsDec 15, 2025
M.S. Rau to Open Store in AspenThe New Orleans jeweler is also hosting pop-up jewelry boutiques in New York City and Dallas.
AuctionsDec 12, 2025
13.54-Carat Paraíba Tourmaline Sets Records at Christie’sSet in a Tiffany & Co. necklace, it sold for $4.2 million, the highest price and price per carat paid for a Paraíba tourmaline at auction.
MajorsDec 12, 2025
David Webb Reveals Ice-Cold Holiday Window DisplayThe jeweler’s “Deep Freeze” display showcases its iconic jewelry designs frozen in a vintage icebox.
CollectionsDec 12, 2025
Piece of the Week: Oscar Heyman’s Sphene RingTake luxury gifting to new heights this holiday season with the jeweler’s showstopping 12-carat sphene ring.
Events & AwardsDec 12, 2025
IGI Jewelry Design Contest Now Accepting SubmissionsThis year's theme is “Unveiling the Depths of the Ocean.”
TrendsDec 11, 2025
Pinterest 2026 Trend Report: Brooches, Bold Gold, Cool BlueIn its annual report, Pinterest noted an increase in searches for brooches, heirloom jewelry, and ‘80s luxury.
GradingDec 11, 2025
GIA to Offer Origin Determination for 3 More GemstonesStarting Jan. 1, customers can request the service for opal, peridot, and demantoid garnet.
IndependentsDec 11, 2025
Look Inside Day’s Jewelers’ Ninth StoreThe 111-year-old retailer celebrated the opening of its new location in Salem, New Hampshire, which is its third store in the state.
MajorsDec 11, 2025
Americas Gold Releases New Gold Chain CatalogThe new catalog features its most popular chains as well as new styles.
