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RAPAPORT... In a difficult retail environment, four jewelry retailers placed among the fastest growing retail outlets in the United States during 2007. This industry however was largely inconspicuous on the list, which was published by the National Retail Federation (NRF.)
“Though the retail environment began to cool last year with the slowest industry growth since 2002, a number of retail companies experienced scorching sales,” NRF explained in a precursor to its annual Hot 100 Retailer ranking survey to be published in the August issue of the NRF’s Stores Magazine.
The survey listed retailers by highest revenue growth rates, and the companies had to have had revenues of more than $100 million. No jewelry companies made the top 10, but Blue Nile's growth placed the online diamond retailer at No.13.
Blue Nile’s revenue grew 26.9 percent to $319.26 million for the year, although its net earnings fell slightly during the period.
Tiffany came in at No.42 with revenue growth of 14.8 percent to $2.94 billion, while Finlay ranked at No.50 with revenues up 13.1 percent to $835.89 million. Birks & Mayors, at No.93, saw revenue growth of 7 percent to $314.75 million.
Other retailers listed who have jewelry in their offering included Amazon.com at No.4 with 38.5 percent growth, Saks at No.57 with 11.7 percent growth, Neiman Marcus (No.75, up 8.9 percent,) and Costco (No.92, up 7.1 percent.)
Jewelers nevertheless were not the most prominent on the ‘Hot’ 100 list with pharmaceutical, food and clothing outlets featuring strongly.
Ivan Szeftel, president of retail services for Alliance Data, which conducted the survey on behalf of NRF, said the ‘hot’ retailers had excelled in their value added service.
“Now more than ever consumers are expecting relevant value from retailers,” Szeftel said. “This year’s Hot 100 Retailers have cracked the value code.”
The Hot 100 Top-10 included:
| Company | Sector | Revenue Growth | | 1. CVS Caremark | Pharmaceutical | 74.2% | | 2. Rite Aid | Pharmaceutical | 39.8% | | 3. IHOP | Food | 38.8% | | 4. Amazon.com | Online Store | 38.5% | | 5. American Apparel | Apparel | 35.8% | | 6. GameStop | Entertainment | 33.4% | | 7. BJ’s Restaurants | Food | 32.3% | | 8. Chipotle Mexican Grill | Food | 31.9% | | 9. FTD | Florist | 31.8% | | 10. Travel Centers of America | Travel | 28.9% | | | |
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