Signet Lands on Top 100 Retailers List
July 08, 2020
RAPAPORT... Signet Jewelers was rated as one of the top 100 retailers on the National Retail Federation’s (NRF) 2020 list, which ranks companies based on annual retail sales.
The retailer came in at number 98, the only jewelry specialist to make the 2020 list. It regained a place after slipping from the rankings in 2019. In 2018, it nabbed the 81st spot.
Meanwhile, Tiffany & Co., which placed 68th last year, failed to break the top 100 this year. Walmart came in first, with Amazon, the Kroger Company, Costco and Walgreens rounding out the top five.
The list is “based on sales for the most recently completed fiscal year,” noted the NRF. “But for some companies, what transpired in 2019 might not hold much significance for 2020 and beyond. For others, the pandemic has accelerated their path.”
The pandemic could affect retail through 2022 and beyond, the NRF cited Tory Gundelach, senior vice president of retail insights at Kantar Consulting, as saying. The retailers that are most likely to recover are those with flexibility, solid operational capabilities and a strong e-commerce business, the NRF added.
Image: A Signet Jewelers office in Dallas, Texas. (Signet Jewelers)
Article originally published on Diamonds.net here