SourcingMay 14, 2024
Anglo American Confirms It Is Looking to Sell De Beers The mining giant also wants to offload its platinum business as part of an overhaul designed to “unlock significant value.”
FinancialsFeb 12, 2019
Signet Inks Deals with Ad Agencies, Postpones Yearly Results
The jewelry giant has partnered with three new agencies to bolster its marketing and advertising.
Akron, Ohio—Signet Jewelers has inked deals with three new agencies to give its marketing and advertising segments a boost after its recent dip in sales and a rough holiday season.
In the latest step on its Path to Brilliance transformation plan, the retailer is looking to reach out to new customers while also improving the experience of its existing customer base.
“Our new partners will optimize our promotional effectiveness as we continue to build our Culture of Agility and Efficiency as part of our Path to Brilliance transformation plan,” said Chief Marketing Officer Bill Brace.
“They will strengthen our banner positionings to better meet customers’ needs through improved precision marketing, particularly in digital channels.”
MediaCom, a New York-based cable television and communications provider, will oversee the media planning and buying for its U.S. retail brands—Kay, Jared, Zales and Piercing Pagoda—with a more data-driven approach in mind.
Zimmerman Advertising, which has worked with mega brands like McDonald’s and Nissan, will serve as the new creative agency and strategic partner for Kay Jewelers stores.
“We are thrilled to begin our partnership with Zimmerman,” said Bill Luth, executive general manager of Kay Jewelers. “They are the right creative partner to bring the power of Kay’s rich heritage as America’s leading jeweler to life and create deep connections with new generations of customers.”
Badger & Winters, another New York-based advertising company, has been tasked with developing the Zales brand platform and extending it into integrated advertising and digital campaigns.
“We are focused on disrupting the way in which brands market to women and could not be more excited about working with Zales to change how the jewelry category engages women,” said Badger & Winters President Jim Winters.
Signet is now looking to shake things up after a disappointing holiday season, seeing same-store sales dip 1 percent year-over-year and total sales slip 3 percent.
The jeweler had revised its fourth quarter guidance, expecting to see comps fall by as much as 3 percent and flat same-stores sales for the fiscal year.
Its fourth-quarter results were slated to be released in March, but the company has postponed the results until April 3.
“The change in dates is being made principally to allow sufficient time for management to complete its analysis of a potential non-cash impairment charge related to goodwill and indefinite lived intangible assets for the fourth quarter resulting from a decline in the
Editors' Picks
Sponsored by
company’s market capitalization. We will share the results of our analysis and any impairment charge if required on April 3,” a Signet spokesperson told National Jeweler.
Signet said because the impairment charge would be non-cash, it does not expect the charge to affect its liquidity or cash flows from operating activities.
Signet said because the impairment charge would be non-cash, it does not expect the charge to affect its liquidity or cash flows from operating activities.
More on Financials
The Latest
AuctionsMay 14, 2024
2 Huge Yellow Diamonds Are Heading to AuctionChristie's is selling one of the diamonds, moving forward with its Geneva jewelry auction despite the cyberattack that took down its website.
MajorsMay 14, 2024
Platinum Born Taps ‘Born Leaders’ for New CampaignThe ad aims to position platinum jewelry as ideal for everyday wear.
Brought to you by
Record Gold Prices Have Consumers Undeterred. Here’s Why.Despite the rising prices, consumers continue to seek out the precious metal.
GradingMay 14, 2024
Instappraise Adds Trifold Brochure to Appraisal OfferingsRetailers can customize and print the appraisal brochures from their store.
Weekly QuizMay 09, 2024
This Week’s QuizTest your jewelry news knowledge by answering these seven questions.
Lab-GrownMay 13, 2024
Lab-Grown Diamond Brand Lightbox Cuts Prices by 25 to 40%The move follows a price-drop test run in Q4 and comes with the addition of a “quality assurance card” from GIA for some loose diamonds.
TechnologyMay 13, 2024
Christie’s Website Brought Down by Hackers, Watch Auction Postponed The site has been down since Thursday evening, just ahead of its spring auctions.
Brought to you by
From Registration to Return: 10 Tips to Protect You Before, During and After a TradeshowTradeshow risks are real. Get tips to protect yourself before, during and after and gain safety and security awareness for your business.
AuctionsMay 13, 2024
Madeleine Albright’s Jewelry, Pins a White-Glove Sale at Freeman’s | HindmanThe late former U.S. Secretary’s collection went for quadruple the sale’s pre-sale estimate.
IndependentsMay 13, 2024
Zachary’s Jewelers Names Mother’s Day Jewelry Contest WinnersThree fifth graders’ winning designs were turned into custom jewelry pieces in time for Mother’s Day.
IndependentsMay 10, 2024
Frank Adams Jewelers Names New CEOKimberly Adams Russell is taking over the role from her father, David Adams, marking the third generation to hold the title.
CollectionsMay 10, 2024
Piece of the Week: Carina Hardy’s ‘Birth of Venus’ NecklaceAs a token of womanhood, this necklace depicts when Venus was born from the sea.
MajorsMay 09, 2024
Watches of Switzerland Pays $130M for Roberto Coin Inc.The deal gives the retailer control over the distribution of Roberto Coin jewelry in the U.S., Canada, Caribbean, and Central America.
TrendsMay 09, 2024
Amanda’s Style File: Shine Bright, Moms Show your mother some love with a piece of fine jewelry.
IndependentsMay 09, 2024
Kyle Edward Fine Jewelry to Close Salisbury StoreThe company’s Easton location will remain open.
MajorsMay 09, 2024
JBT Elects New ChairmanBrian D. Fleming of Carla Corporation was elected to serve a one-year term in the role.
Supplier BulletinMay 08, 2024
Fusing Past and Present at the Las Vegas Antique Jewelry & Watch ShowSponsored by the Las Vegas Antique Jewelry and Watch Show
EditorsMay 07, 2024
Q&A: Author Vikki Tobak on the ‘Ice-Cold’ ExhibitionTobak, author of “Ice Cold: A Hip-Hop Jewelry History,” shares how the exhibition came to be, and the pieces people may be surprised to see.
EditorsMay 07, 2024
10 On-Theme Looks from the 2024 Met GalaStars adorned themselves in emeralds, platinum, and myriad bird motifs, writes Associate Editor Natalie Francisco.
IndependentsMay 07, 2024
112-Year-Old New Orleans Business Popping Up in Aspen M.S. Rau is set to open a seasonal gallery in the high-end resort town early next month.
MajorsMay 07, 2024
Richemont Acquires Italian Jeweler VhernierThe branded jewelry market is thriving, said Richemont Chairman Johann Rupert.
CollectionsMay 07, 2024
These ‘Luminaries’ Are Set to Light Up CoutureThe six designers, all participants in the show’s Diversity Action Council mentorship program, will exhibit in Salon 634.
AuctionsMay 07, 2024
Sotheby’s to Auction Sylvester Stallone’s WatchesThe highlight of his collection is the coveted Patek Philippe Grandmaster Chime, which could sell for up to $5 million.
CollectionsMay 07, 2024
Phillip Gavriel Pays Tribute to Venice With New CollectionThe “Venetian Link” series modernizes the classic Veneziana box chain in its bracelets and necklaces.
Events & AwardsMay 07, 2024
JA Now Accepting Applications for New Bench Jeweler ScholarshipThe Seymour & Evelyn Holtzman Bench Scholarship will provide tuition assistance to two low-income students.
Policies & IssuesMay 06, 2024
Rolex Files Objection to Hallmark’s New Trademark ApplicationThe Swiss watchmaker said the company’s plans to use a new version of the Hallmark crown on jewelry would confuse consumers.
EditorsMay 06, 2024
Q&A: 8 Questions With Anglo American’s Benny Oeyen The executive talked about the importance of self-purchasers and how fuel cell electric vehicles are going to fuel demand for platinum.
