Key points
- Diamond jewelry manufacturers in Bangkok and diamond wholesalers in Thailand supplying to certain business divisions in the Signet Group and also to other American retailers are saying the that bad performance in the United States market is having an effect on them as clients are placing lesser orders and buying less stocks.
- The jewelry retail giant, which remains the only specialist jeweler to secure a place on the prestigious annual list, dropped to 74th position in the 2026 rankings after placing 69th a year earlier and 67th in 2024.
- Signet Jewelers has slipped further down the latest National Retail Federation (NRF) Top 100 Retailers rankings in the United States, underscoring the mounting challenges facing the natural diamond jewelry sector as shifting consumer preferences and economic headwinds continue to reshape the global retail landscape.
Gems and Jewelry News: Signet Jewelers has slipped further down the latest National Retail Federation (NRF) Top 100 Retailers rankings in the United States, underscoring the mounting challenges facing the natural diamond jewelry sector as shifting consumer preferences and economic headwinds continue to reshape the global retail landscape.
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The jewelry retail giant, which remains the only specialist jeweler to secure a place on the prestigious annual list, dropped to 74th position in the 2026 rankings after placing 69th a year earlier and 67th in 2024. This Gems and Jewelry News report highlights how the decline reflects the ongoing pressures confronting the natural diamond market, where softer consumer demand, tariff-related costs and the accelerating popularity of lab-grown diamonds have combined to alter purchasing patterns. Despite these obstacles, Signet continues to maintain a significant presence in the highly competitive U.S. retail sector.
Natural Diamond Market Faces Continuing Pressure
Industry analysts have pointed to weakening demand for natural diamonds as one of the principal factors influencing Signet’s lower position in the NRF rankings. Consumers have become increasingly selective with discretionary spending while many younger buyers are embracing lab-grown diamonds as a more affordable alternative, placing additional pressure on traditional diamond jewelry retailers.
The competitive retail environment has also been shaped by broader economic uncertainty, inflationary pressures and tariffs that have affected pricing strategies throughout the jewelry supply chain. These developments have forced many retailers to rethink merchandising, inventory management and marketing initiatives to remain competitive in a rapidly evolving marketplace.
Strong Sales Despite Lower Ranking
Although its position on the NRF list declined, Signet still posted encouraging financial results. According to data compiled by the National Retail Federation, the company achieved a 2.8 percent increase in U.S. sales during 2025, generating approximately US$6.2 billion in domestic revenue.
The NRF noted that its rankings are based on publicly available information and estimated figures, meaning the reported sales data may differ slightly from company-issued financial statements. Nevertheless, the results demonstrate that Signet continues to generate substantial revenue even as the natural diamond segment experiences prolonged market weakness.
Retail Giants Continue to Dominate
Retail heavyweight Walmart once again secured the number one position on the NRF’s annual Top 100 Retailers list, followed by Amazon, Costco, The Kroger Co. and Home Depot. Several department store chains that also operate significant jewelry businesses earned places on the rankings, including Macy’s at 25th, Nordstrom at 33rd, Kohl’s at 34th and J.C. Penney at 77th.
Commenting on the latest rankings, NRF Chief Economist and Executive Director of Research Mark Mathews said the list demonstrates how leading retailers continue adapting to changing consumer behavior despite challenging economic conditions. He noted that companies are embracing innovative retail formats and evolving business strategies to better meet customer expectations and strengthen their market positions.
The latest rankings illustrate that while Signet remains the dominant specialist jewelry retailer in the United States, the business must continue adapting to changing consumer preferences and increasing competition from alternative diamond products. Its ability to deliver revenue growth despite slipping in the rankings reflects both the resilience of its operations and the broader transformation underway across the global jewelry retail industry.
Effects on Thai Gems and jewelry Industry
Diamond jewelry manufacturers in Bangkok and diamond wholesalers in Thailand supplying to certain business divisions in the Signet Group and also to other American retailers are saying the that bad performance in the United States market is having an effect on them as clients are placing lesser orders and buying less stocks.
For more on Signet Jewelers, visit:
https://www.signetjewelers.com/our-home/default.aspx
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