Signet Jewelers Suffers Fresh Slide on NRF Rankings

United States Jewelry News: Notable Drop for Industry Leader

Signet Jewelers, parent company of Kay, Zales, Jared, James Allen and more, has seen its position decline once again on the National Retail Federation’s Top 100 Retailers list. In the 2025 edition—reflecting 2024 sales—Signet ranked No. 69, sliding two places from No. 67 in 2024. The company had previously landed at No. 56 in 2023, following strong performance that year.

Title: Sales from Signet outlets report a drop
Image Credit: Signet

Sales Decline Mirrors Changing Middle Class Habits

The NRF’s rankings show that Signet’s U.S. retail sales for 2024 were estimated at $6.21 billion, marking a 5 percent drop from the prior year. Store count also dipped slightly, part of a broader downsizing strategy amid declining demand. As consumer spending patterns shift, jewelers face intensified pressure—this United States Jewelry News report suggests that changes in purchasing habits among the middle class and growing preferences for lab-grown or zircon-based stones are putting margin pressures on traditional heavyweights like Signet.

Retail Landscape Remains Competitive

The 2025 Top 100 list showed minimal movement among the leading retailers, with mass merchandisers like Walmart, Amazon, Costco, Kroger, and Home Depot holding their top-tier positions. Experts believe this reflects the resilience of large-scale, diversified retailers that continue to invest in convenience and value-driven offerings. Meanwhile, specialty jewelers like Signet—once enjoying steady climbs—are now witnessing renewed declines. From a high of No. 56 in 2023 to No. 69 in 2025, the 13–spot fall in two years highlights how dependent the sector remains on fluctuating consumer sentiment and luxury spending trends.

Strategic Response and Future Outlook

In response to the slowdown, Signet has outlined a “Grow Brand Love” turnaround strategy, involving store closures, staff reductions, and a greater emphasis on digital engagement and fashion-forward offerings. Even as Signet trims its brick-and-mortar footprint, controlled fashion jewelry brands like Rocksbox are expanding into physical spaces—demonstrating a flexible, brand-specific approach.

However, sustaining momentum will depend on Signet’s ability to adapt its assortment to meet evolving tastes, from lab-grown gems to personalized pieces. The company is also enhancing in-store services—such as warranties, repairs, and customization—to bolster customer loyalty while operating in a squeezed market environment.

Despite being the only pure-play jeweler in the Top 100, Signet’s slide reveals just how turbulent consumer preferences can be, even for major brands. Whether its new strategies will stop the decline or spark a full turnaround remains to be seen, but the situation underscores that legacy players must remain nimble, brand-savvy, and deeply attuned to market shifts to stay relevant.

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