Signet Jewelers slid in the 2025 National Retail Federation (NRF) ranking of the top 100 retailers, which places companies based on annual sales.
The group — the only jewelry specialist to make the cut — rated 69th, down from 67th last year, according to data the NRF released last week. In 2023, Signet ranked 56. The drop likely stemmed from economic changes in the US, which have impacted consumer confidence and purchases of luxury items. Additionally, strategies involving lab-grown and natural diamonds are cutting profit margins and reduced sales volume for the owner of Kay, Zales, Jared and James Allen.
Walmart maintained its number-one position, with Amazon, Costco, The Kroger Co. and The Home Depot completing the top five. Other businesses that carry jewelry also grabbed spots, with Macy’s coming in at 24, Kohl’s 31, Nordstrom 33 and J.C. Penney 67.
The list sources its estimates based on publicly available data, according to the NRF, which pointed out that its figures could differ from companies’ published numbers. The NRF reported Signet saw a 5% decline in the US in 2024, with $6.21 billion in US revenue and $6.86 billion in worldwide sales.
“I would say you could take last year’s list and just flip it over for 2025,” said David Marcotte, senior vice president at Kantar Consulting, which helped compile the rankings. “The predictability of the list isn’t exactly a problem. Things are evolving so quickly in other areas such as trade policy, it seems like every few hours, something changes that’s significant.”
Image: A ring from a Zales store. (Shutterstock)