Fine jewellery preferred at Saks and J.C. Penny

With the holiday season nearing its peak, the International Council of Shopping Centers reports that the U.S. chain store sales for November have scaled up by 3.5% on year-on-year basis. While Saks recorded an increase of 26.3% in its group sales valuing at $347.6 million for the four weeks ending December 1, 2007, J.C. Penny noted its total department store sales hike up by 5.8% to $1.7 billion. For both these prominent retailers in the U.S., shoppers favoured purchasing fine jewellery.

J.C. Penny’s direct sales of $341 million superseded expectations, and apart from jewellery, the other indulgences were gift items and sleepwear. Saks Fifth Avenue store sales of fine jewellery competed with women's shoes, handbags and men's accessories.