SurveysApr 30, 2025
Consumer Confidence Hits Pandemic-Level Low Amid Tariff ConcernsWhat’s really worrying U.S. consumers isn’t the present situation; it’s what the economy is going to look like six months from now.
FinancialsAug 27, 2014
Q2 comps down for Zale, now officially part of Signet
Signet Jewelers Ltd. reported Thursday that second quarter same-store sales rose 7 percent for its Sterling Jewelers division but fell 1 percent at Zale Corp., which it officially acquired in late May.
Akron, Ohio--Signet Jewelers Ltd. reported Thursday that second quarter same-store sales rose 7 percent for its Sterling Jewelers division but fell 1 percent at Zale Corp., which it officially acquired in late May.
In the second quarter ended Aug. 2, Kay Jewelers turned in the strongest performance in the company’s Sterling division, reporting an 8 percent year-over-year increase in same-store sales. Comps also were up for Jared the Galleria of Jewelry (5 percent) and Sterling’s regional brands (2 percent.)
Total sales for Sterling Jewelers rose 9 percent to $810.4 million.
Le Vian, Neil Lane and the company’s colored diamond collections, Artistry and Vivid, were among the top sellers for the quarter. During the quarter, Sterling also added five Pandora shop-in-shops in its Jared stores and introduced a new collection for the chain called “Earthly Treasures,” which is done in partnership with the Smithsonian and features rarer colored gemstones.
At Zale, same-store sales were down across all nameplates expect Peoples Jewellers in Canada, where comps climbed 4 percent. Same-store sales were down 1 percent at Zales Jewelers and 3 percent at Piercing Pagoda.
Vera Wang Love, Arctic Brilliance Canadian Diamonds, Celebration and Unstoppable Love were among the division’s top sellers in the second quarter.
“I would say there was some distraction in the Zale business,” Signet CEO Mike Barnes said during the earnings conference call held Thursday morning, noting operational and merchandise changes that occurred during the quarter as Zale was integrated into Signet.
The $1.4 billion deal merging the two jewelry giants officially closed on May 29, right after Zale shareholders approved the deal.
Following completion of the merger, a number of top Zale executives resigned, including CEO and President Theo Killion, Chief Administrative Officer Matt Appel and Chief Marketing Officer Richard Lennox.
RELATED CONTENT: Zale CEO resigns in post-merger shakeup
As a whole, Signet Jewelers, including its U.K. division, reported that same-store sales were up 5 percent in the quarter while total sales rose 39 percent. Excluding the Zale acquisition, total sales were up 11 percent and same-store sales increased 6 percent.
Gross margin shrunk from 35.2 percent to 33.4 percent. Excluding the Zale acquisition, gross margin was 34.8 percent of sales.
Net income fell 14 percent from $67.4 million to $58.0 million. Excluding the Zale acquisition, net income was $79.9 million, a 19 percent increase.
During Thursday morning’s call, Barnes said that the company
Editors' Picks
Sponsored by
is testing Zale’s more high-profile brands in Kay Jewelers stores and vice-versa, including putting Kay’s popular Jane Seymour jewelry into Peoples Jewellers, Zale’s division in Canada.
He also said that all the company’s divisions will be increasing their television advertising this fall and introducing new commercials.
In addition to the integration of Zale, Signet executives said that during the second quarter it completed conversion of all remaining Ultra Diamond outlet stores into either Kay Outlets or its new concept Jared Vault stores, adding that sales in its outlet division were one of the key drivers of second quarter growth.
Editor's note: The article was updated to correct Richard Lennox's position with Zale Corp. He was the chief marketing officer, not the chief merchandising officer as previously stated.
The Latest
Events & AwardsApr 30, 2025
Instore Show Debuts New Name, Look, and FocusNow called The Instore Jewelry Show, it will include holiday-focused education, interactive workshops, and a window display contest.
SourcingApr 30, 2025
GemGuide Has a New Pricing Chart for Colombian EmeraldsIt includes pricing for unenhanced Colombian emeralds in the fine to extra fine range.
Brought to you by
Watch: The Winston Red: GIA Examines the Smithsonian’s Newest AdditionSupplier Spotlight Sponsored by GIA
CollectionsApr 30, 2025
Tiffany & Co. Goes Deep-Sea Diving in New Blue BookThe “Sea of Wonder” collection features pieces inspired by the ocean, from its waves to flora and creatures like urchins and sea turtles.
Weekly QuizApr 24, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
AuctionsApr 29, 2025
‘Golconda Blue’ Diamond Pulled From AuctionThe 23-carat fancy vivid blue diamond, set to headline Christie’s May jewelry auction, was expected to sell for as much as $50 million.
IndependentsApr 29, 2025
Maryland Jeweler to Close After 36 YearsG.B. Heron Jewelers in Salisbury, Maryland, is set to close as its owner, Jeff Cassels, retires.
Brought to you by
Emerging Jewelers Accelerator Program Announces Second Cohort of Aspiring Jewelry Entrepreneurs Six new retail businesses were selected for the 2025 program, which began in January.
ColumnistsApr 29, 2025
Google Ads vs. Social Media Ads: Which Are More Effective?Emmanuel Raheb outlines the differences between the two platforms and posits that the most successful jewelers use both.
SourcingApr 29, 2025
Gemfields Mini Ruby Auction Achieves $7MThe miner said its April sale featured a mix of commercial-quality primary rubies and secondary rubies of varying quality.
CrimeApr 28, 2025
Customs Seizes Nearly 2,000 Pieces of Counterfeit Van Cleef & Arpels JewelryU.S. customs agents in El Paso, Texas, intercepted the package, which would have been worth $9 million if the jewelry was genuine.
TrendsApr 28, 2025
Suzanne Kalan Launches Tech Ring Jacket CollectionHealth monitors become statement pieces when paired with the brand’s new collection of stackable diamond-studded bands.
Events & AwardsApr 28, 2025
JCK Industry Fund Announces 2025 Grant RecipientsTen organizations were selected this year.
IndependentsApr 28, 2025
John Atencio Appoints 2 to Wholesale TeamKim Carpenter and Sam Gevisenheit have joined the brand.
CollectionsApr 25, 2025
Sylvie Looks to Water in New Sculptural Bridal Collection“Shell Auranova” is the next generation of the brand’s bridal line, featuring half-bezel engagement rings with bold and fluid designs.
EditorsApr 25, 2025
Piece of the Week: Deborah Meyers Experience’s ‘The Birds’ EarringsDesigner Deborah Meyers created her birds from oxidized sterling silver, rose-cut diamond eyes, and Akoya Keshi pearl feathers.
SourcingApr 25, 2025
De Beers Sales, Production Fall in Q1 Amid UncertaintyThe company said it expects sightholders to remain “cautious” with their purchasing due to all the unknowns around the U.S. tariffs.
Supplier BulletinApr 24, 2025
Protect Your Customers and Your BusinessSponsored by the Gemological Institute of America
EditorsApr 24, 2025
Q&A: Wolf’s CEO Talks U.S. ExpansionSimon Wolf shares why the time was right to open a new office here, what he looks for in a retail partner, and why he loves U.S. consumers.
IndependentsApr 24, 2025
Longtime Iowa Jeweler Herman Ginsberg Dies at 99 A third-generation jeweler, Ginsberg worked at his family’s store, Ginsberg Jewelers, from 1948 until his retirement in 2019.
SourcingApr 24, 2025
Young Diamantaires Transition to NonprofitThe organization also announced its board of directors.
TrendsApr 24, 2025
Amanda’s Style File: So CharmingCharms may be tiny but with their small size comes endless layering possibilities, from bracelets to necklaces and earrings.
MajorsApr 23, 2025
Bulgari Doubles Size of Jewelry Factory in ItalyLocated in Valenza, the now 355,000-square-foot facility includes a new jewelry school that’s open to the public, Scuola Bulgari.
Events & AwardsApr 23, 2025
PDPaola Creative Director Wins FGI’s ‘Rising Star’ AwardPaola Sasplugas, co-founder of the Barcelona-based jewelry brand, received the Fine Jewelry Award.
AuctionsApr 23, 2025
Rare Custom Rolex Daytona Heads to AuctionA platinum Zenith-powered Daytona commissioned in the late ‘90s will headline Sotheby’s Important Watches sale in Geneva next month.
MajorsApr 23, 2025
David Yurman’s New Campaign Stars Carmelo Anthony, Jaylen BrownThe basketball stars wear men’s jewelry from the “Curb Chain” collection.
MajorsApr 22, 2025
Zales’ Rebrand Takes Playful Approach to Fine JewelryThe Signet Jewelers-owned retailer wants to encourage younger shoppers to wear fine jewelry every day, not just on special occasions.
