Signet Tops Jewelry Superseller List Again
June 04, 24
(IDEX Online) - Signet remains by far the biggest-grossing jeweler in North America last year, despite an 8 per cent drop in revenue.
Its total 2023 sales of $6.7bn were almost twice those of Walmart (second-placed again), according to National Jeweler magazine's annual State of the Majors report on $100m supersellers, based on the most recent available figures.
Signet, the world's largest retailer of diamond jewelry, with 2,400 outlets across Kay, Zales, Jared, Blue Nile and other brands, suffered a 6.3 per cent fall in net sales for Q4 and a 9.6 per cent drop in same store sales.
Walmart and third-placed Amazon both saw an increase in 2023 revenues. Richemont, the Swiss luxury conglomerate, slipped from third place in 2022 to fourth in 2023, as revenues fell by almost 8 per cent to $3.11bn.
LVMH remains in fifth place Costco in sixth, and Macy's in seventh. Pandora slips from eighth to ninth. Eight placed is Nonantum Capital Partners, the private equity firm that bought Ross-Simons. Bucherer remains in tenth place.
The number of retailers in North America that sold $100m or more of jewelry during the year was 36, unchanged from the previous year.