Padis succeeds Lisa Bridge, marking the first time the organization has had two women board presidents in a row.
Signet continues to post strong sales
Same-store sales increased 4 percent in the retailer’s fiscal first quarter, with both bridal and diamond fashion jewelry performing particularly well.
Akron, Ohio--Signet Jewelers Ltd. reported Thursday that its first quarter comps rose 4 percent year-over-year, with its U.K. stores and newly acquired Zale division leading the way.
Total sales in the quarter ended May 2 reached $1.53 billion, up from $474.5 million in the prior-year period, primarily due to the acquisition of Zale completed in May 2014.
In North America, Zale division stores--Zales, Piercing Pagoda and Gordon’s Jewelers as well as Peoples and Mappins Jewellers in Canada--outperformed Sterling Jewelers, which includes Kay Jewelers and Jared the Galleria of Jewelry stores.
Zale posted a 6 percent year-over-year increase in same-store sales during the quarter, while Kay’s comps were up 4 percent and Jared’s same-store sales essentially were flat.
Diamond jewelry, both fashion and bridal, branded and non-branded, did well in all stores, Signet CEO Mark Light said during the company’s earnings call Thursday morning.
Sales were strong of the Diamonds in Rhythm and Unstoppable Love lines of diamond fashion jewelry carried in Kay/Jared and Zales, respectively.
Signet also launched an Instagram and Pinterest account for Kay Jewelers during the quarter.
For Jared, Signet’s weakest performer in the quarter, Light said they are testing radio advertising targeting bridal customers and launched the chain’s first brand book during the quarter, used for direct mail marketing and in stores.
Overall, the first quarter of fiscal 2016 marked the 22nd consecutive quarter of positive comps for Sterling Jewelers, while Zale, which Signet acquired last year, also has been consistently posting positive numbers.
“I feel as good as ever about our future for the near, the medium and long term,” Light said.
The Latest
Jesse Cole, founder of Fans First Entertainment, shared the “five Es” of building a fan base during his AGS Conclave keynote.
The Royal Oak Perpetual Calendar "John Mayer" was celebrated at a star-studded party in LA last week.
With Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
The announcement came as the company reported a 23 percent drop in production in Q1.
The three-time Pro Bowler continues to partner with the retailer, donating to a Detroit nonprofit and giving watches to fans.
A double-digit drop in the number of in-store crimes was offset by a jump in off-premises attacks, JSA’s 2023 crime report shows.
For over 30 years, JA has advocated for the industry, fought against harmful legislation and backed measures that help jewelry businesses.
Inspired by the Roman goddess of love, the designer looked to the sea for her new collection.
The selected nine organizations have outlined their plans for the funds.
The mining company’s Diavik Diamond Mine lost four employees in a plane crash in January.
The crown introduced a dozen timepieces in Geneva, including a heavy metal version of its deep-sea divers’ watch.
Emmanuel Raheb recommends digging into demographic data, customizing your store’s communications, and retargeting ahead of May 12.
Located in the town of Queensbury, it features a dedicated bridal section and a Gabriel & Co. store-in-store.
A 203-carat diamond from the alluvial mine in Angola achieved the highest price.
Ruser was known for his figural jewelry with freshwater pearls and for his celebrity clientele.
The “Rebel Heart” campaign embodies rebellion, romance, and sensuality, the brand said.
Editor-in-Chief Michelle Graff shares the standout moments from the education sessions she attended in Austin last week.
The overhaul includes a new logo and enhanced digital marketplace.
The money will go toward supporting ongoing research and aftercare programs for childhood cancer survivors.
A new addition to the “Heirloom” collection, this one-of-a-kind piece features 32 custom-cut gemstones.
Last month in Dallas, David Walton pushed another jeweler, David Ettinger, who later died.
The move will allow the manufacturing company to offer a more “diverse and comprehensive” range of products.
From now through mid-May, GIA will be offering the reports at a 50 percent discount.
De Beers’ rough diamond sales were down 18 percent year-over-year in its latest round of sales.
Sponsored by the Las Vegas Antique Jewelry & Watch Show
The Patek Philippe expert will serve as personal curator for the brand-focused company.