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The luxury titan posted double-digit declines across all regions, categories and distribution channels as COVID-19 took its toll.
The Swiss watchmaker is eliminating 2,400 jobs and closing 260 locations in an effort to downsize its retail footprint.
With most of its stores reopened and traffic improving, the company is predicting a brighter-than-expected second quarter.
The COVID-19 pandemic exacerbated existing problems for the clothing and accessories chain, including declining sales and store traffic.
The retailer is worried about customers’ willingness to visit stores and what a second wave of the virus would mean for business.
First-quarter results, another acquisition on the rocks, Signet’s reopening steps, and more.
The watch company has reopened 14 stores in North America, which are performing better than expected, said CEO Efraim Grinberg.
COVID-19 forced Signet to take a hard look at its fleet of physical stores and upgrade its online capabilities.
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Since 1906, National Jeweler has been the must-read news source for smart jewelry professionals--jewelry retailers, designers, buyers, manufacturers, and suppliers. From market analysis to emerging jewelry trends, we cover the important industry topics vital to the everyday success of jewelry professionals worldwide. National Jeweler delivers the most urgent jewelry news necessary for running your day-to-day jewelry business here, and via our daily e-newsletter, website and other specialty publications, such as "The State of the Majors." National Jeweler is published by Jewelers of America, the leading nonprofit jewelry association in the United States.