The report shows that couples are searching for vintage and antique rings, gold jewelry, pearls, and colorful pieces.
Signet Sees Same-Store Sales Rise 2% in First Quarter
Despite a “choppy” retail environment, the company saw comps and total sales increase on the strength of its Ever Us collection, diamond fashion jewelry and select branded bridal.
Hamilton, Bermuda--Signet saw positive growth in its first quarter of the fiscal year, with comps and total sales both increasing, due in large part to the success of its Ever Us two-stone line, diamond fashion jewelry and select branded bridal.
Same-store sales in the three-month period ended April 30 grew by 2 percent, while total sales were up 3 percent to $1.58 billion (a 4 percent increase on a constant-exchange-rate basis).
In a conference call Thursday morning, CEO Mark Light said that the company is testing a number of extensions to its successful Ever Us line, including new diamond ring styles as well as bracelets and necklaces, in time for the holiday season.
The company also is testing a collection of Vera Wang fashion diamond jewelry and pearl jewelry, joining the trend of jewelry companies collaborating with established fashion brands on designs.
Additionally, Signet is “resetting” its Pandora presentation, Light said, with new shop-in-shops. The company will release a television advertising campaign behind the brand in the fourth quarter.
Signet also is rolling out its Chosen Diamond program, which kicked off last fall and allows customers to trace the journey of their diamond from mine to market, to all stores, and will bring new technology to its stores that will allow “clienteling,” as Light referred to it, for employees to establish relationships and engage customers based on their previous purchase history and profile.
By division, Sterling’s same-store sales in Q1 were up 2 percent on the strength of select branded bridal jewelry as well as fashion jewelry, Charmed Memories and lower-priced promotional items that drove transactions. Total sales for Sterling in the three-month period rose 4 percent to $980.4 million.
The Zale Division also saw comps increase nearly 3 percent on diamond fashion jewelry and branded bridal as well as lower-priced promotional items, while sales hit $450.4 million, a 3 percent increase compared with the year-earlier period. Total sales for Zale’s U.S. jewelry division rose 4 percent to $330 million.
The company said that Sunday (May 29) marks the two-year anniversary since the close of the acquisition of Zale, and notes that the “integration continues to go extremely well across all aspects of our business.”
Meanwhile, e-commerce sales for Signet in the first quarter were $80.1 million, making up 5 percent of total sales. This is a $3.2 million increase compared with the prior-year period.
The
The Latest
He’s remembered as a “font of passion,” leaving behind a legacy of dedication to his craft and community.
The first one will take place next month during the Jewelers of Louisiana’s and Mississippi Jewelers Association’s conventions.
For over 30 years, JA has advocated for the industry, fought against harmful legislation and backed measures that help jewelry businesses.
The redesigned boutique features interactive displays and a workshop space for hands-on learning about watchmaking.
There is a willingness to comply with new government-mandated regulations, with an insistence that they should be practical and realistic.
A combination of factors is driving growth in the industry despite the precipitous drop in prices across the board.
Ho Brothers offers scalable solutions for the future of custom jewelry.
The zone’s modernization will enhance and increase India’s jewelry manufacturing capabilities while aiding small and mid-sized businesses.
By the end of this year, SRK’s diamond manufacturing complexes will achieve net zero emissions, one of an impressive array of achievements.
Optimism about the current state of the economy was offset by anxiety around inflation and the political environment.
The former WJA executive director is MFM’s new managing director.
DDG encourages retailers to educate customers on the positive impact of purchasing natural diamonds.
Highlighting the most iconic Tiffany collections, it’s inspired by the company’s late window designer, Gene Moore.
Jen Cullen Williams and Duvall O’Steen explore how jewelers can save time and money by using AI to analyze engagement and create content.
The retailer previously turned down an $8.4 billion offer in 2018.
The Florida store’s owner Miguel Gonzalez is retiring.
The lab stresses the importance of accurate identification, as the difference in price is “substantial.”
The brand also plans to expand its retail footprint from 138 to 200 stores over the next three years.
One is reserved for a NAJA member, the other for a non-member.
Longtime employees Carie Lehrke and Megan Mattice have received promotions.
Three guests joined National Jeweler and Jewelers of America to discuss trending time periods, spotting reproductions, and more.
Chris Clipper and Robert Lepere join the company with 50 years of combined experience.
The trendy, metallic earrings wink at classic spring colors.
JSA said a man and woman pulled the safe out of an Oakland jewelry store but couldn’t quite get it into their van.
The miner’s March auction generated $19 million.
Helen McCluskey will succeed H. Todd Stitzer when he meets his 12-year term limit in June.