Jewelry retailers failed to get a spot on the STORES Top 100 Retailers list for the second consecutive year.
Part of the reason this has happened is the inclusion of restaurants for the second consecutive year among the rankings for the magazine of the National Retail Federation. In addition, as the definition of retail continues to expand, technology and entertainment companies were added to the list for the first time.
The report, sponsored by SAP and featured in the July issue of STORES, is an annual snapshot of the retail industry and ranks companies by revenue based on 2007 results and groups them on one chart regardless of the segment or segments in which they operate.
Among retailers that sell jewelry as a significant part of its overall merchandise offerings, the top listed company is Wal-Mart, which also placed on top of the annual poll. In fact, the retailer, which reported total sales of nearly $379 billion in 2007, was the top ranked retailer by the annual survey—a spot it has held since the ranking was created in 1991.
According to STORES magazine, while Wal-Mart continues to invest in its “green” and organic initiatives, it has not lost site of its original claim to fame of providing everyday low-prices for its customers.
Other retailers that sell a significant amount jewelry that made the top 100 list include: Target (6), Sears Holdings (8), Macy’s (13), JCPenney (18), Nordstrom (40), QVC (43), Neiman Marcus Group (76), Berkshire-Hathaway Retail (94), and Saks (99).
As the definition of retail continues to expand, technology and entertainment companies were added to the list, with Apple Stores/iTunes (52), Dell Retail (56), Verizon Wireless (61), and AT&T Wireless (81) all making their debut this year, according to the rankings.
“With new products, a different ad campaign, or a fresh look, the best retailers are constantly reinventing themselves to remain relevant to their customers,” said Susan Reda, executive editor of STORES Magazine. “As consumers struggle with higher gas and food prices, lower home values, and a shaky economy, retailers are staying focused on how to appeal to shoppers during this difficult time.”
STORES Top 100 Retailers are as follows:
3. The Home Depot
4. CVS Caremark