Two of the top US department stores noted strong jewelry sales in the third fiscal quarter, even as their overall sales disappointed.
“In terms of specific results, our top-performing merchandise categories in the quarter included fine jewelry, footwear, men’s and women’s apparel,” J.C. Penney chief financial officer Bill Wafford said last week on an analyst call transcribed by Seeking Alpha. “Our fine-jewelry business once again delivered solid sales results,” he reported. Comparative-store sales for the division increased, with strength in categories such as modern bride, diamonds, gems and silver, Wafford added.
The retailer will also create a “destination” business for jewelry, noting customers want easier shopping experiences and a fun place to share with others.
“We have created differentiating elements that will deliver on these imperatives,” J.C. Penney CEO Jill Soltau said. “A destination to complete the look, the all-you zone, showcasing fashion jewelry and accessories.”
Macy’s, which also incorporates jewelry into a “destination” business, saw solid sales in the category as well. Read more about how jewelry sales are performing in top retail stores on the Rapaport website HERE