Signet Moves up NRF Rankings of US Top 100 Companies
July 10, 23
(IDEX Online) - Signet ranks 56th in a new list of top US retailers compiled by the NRF (National Retail Federation) with worldwide sales of $8.32bn in 2022.
It jumps from 66th place last year, following its acquisition during 2022 of the online retailer Blue Nile for $360m and Diamonds Direct, the chain of 22 specialty jewelry stores, for $490m.
In 2021 Signet also bought the jewelry-rental subscription site Rocksbox.
Signet is the biggest jewelry retailer in the US with over 2,800 outlets across its many brands - Kay Jewelers, Zales, Jared, Banter by Piercing Pagoda, and Diamonds Direct in the United States, Blue Nile, JamesAllen.com, Rocksbox, and Peoples Jewellers in Canada, and H. Samuel and Ernest Jones in the UK.
Top three spots in the NRF list go to Walmart ($600.94bn), Amazon ($343.33bn) and Costco ($217.53bn), all of which sell jewelry. But Signet is the sole jewelry-only company in the top 100.
Last month Signet Signet revised down total sales forecasts for this year from $7.67bn-$7.84bn to $7.1bn-$7.3bn and announced plans to close around 150 outlets as the "engagement gap" kicks in.