CollectionsJan 14, 2026
Marie Lichtenberg Lassos Leather for New BraceletsThe brand is trading its colorful fabric cords for Italian leather in its “Lasso” baby locket bracelets.
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
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.
More on Financials
The Latest
TechnologyJan 14, 2026
“My Next Question” Enters Its Podcast Era National Jeweler and Jewelers of America’s popular webinar series is evolving in 2026.
MajorsJan 14, 2026
Saks Files for Bankruptcy, Names New CEOThe department store chain owes millions to creditors like David Yurman, Roberto Coin, Kering, and LVMH.
Brought to you by
How Jewelers Can Fight Back Against Cell JammersCriminals are using cell jammers to disable alarms, but new technology like JamAlert™ can stop them.
CollectionsJan 14, 2026
Boucheron Names Colman Domingo as Brand AmbassadorThe award-winning actor’s visionary approach and creativity echo the spirit of Boucheron, the brand said.
Weekly QuizJan 08, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
IndependentsJan 14, 2026
Kansas Jeweler Wins 2025 ‘Wag’ AwardEdge Retail Academy honored Burnell’s Fine Jewelry in Wichita, Kansas, with its annual award for business excellence.
ColumnistsJan 13, 2026
2025 Was a ‘Price Up, Units Down’ Year, Here’s What That Signals for 2026 In a market defined by more selective consumers, Sherry Smith shares why execution will be independent jewelers’ key to growth this year.
Brought to you by
Impacting Tomorrow TodayHow Jewelers of America’s 20 Under 40 are leading to ensure a brighter future for the jewelry industry.
IndependentsJan 13, 2026
Orr’s Jewelers Opens New Location in Pittsburgh’s Strip DistrictThe family-owned jeweler’s new space is in a former wholesale produce market.
CrimeJan 13, 2026
Alleged Getaway Driver Charged in Florida Jewelry Store RobberyIvel Sanchez Rivera, 52, has been arrested and charged in connection with the armed robbery of Tio Jewelers in Cape Coral, Florida.
SourcingJan 13, 2026
Rio Grande To Offer Calibrated Diamond MeleeThe supplier’s online program allows customers to search and buy calibrated natural and lab-grown diamond melee, including in fancy shapes.
Events & AwardsJan 13, 2026
NYC Jewelry, Antique, & Object Show Announces Winter EventThe new show will take place Jan. 23-25, 2026.
PodcastsJan 12, 2026
Introducing My Next Question, the PodcastA monthly podcast series for jewelry professionals
EditorsJan 12, 2026
Platinum, White Gold Rule the 2026 Golden GlobesAssociate Editor Natalie Francisco highlights her favorite jewelry moments from the Golden Globes, and they are (mostly) white hot.
GradingJan 12, 2026
Peter Yantzer, Former Executive Director of AGS Labs, Dies at 77 Yantzer is remembered for the profound influence he had on diamond cut grading as well as his contagious smile and quick wit.
MajorsJan 12, 2026
These 14 Macy’s Locations Will Close This YearThe store closures are part of the retailer’s “Bold New Chapter” turnaround plan.
MajorsJan 12, 2026
Jewelers Mutual Acquires AI-Powered Event Insurance ProgramThrough EventGuard, the company will offer event liability and cancellation insurance, including wedding coverage.
MajorsJan 09, 2026
Kendra Scott Taps Activewear Exec as CEO Chris Blakeslee has experience at Athleta and Alo Yoga. Kendra Scott will remain on board as executive chair and chief visionary officer.
SurveysJan 09, 2026
U.S. Holiday Retail Sales Up 4%, Visa, Mastercard SayThe credit card companies’ surveys examined where consumers shopped, what they bought, and what they valued this holiday season.
AuctionsJan 09, 2026
Christie’s Names New Global Managing Director for LuxuryKimberly Miller has been promoted to the role.
CollectionsJan 09, 2026
Piece of the Week: Lionheart’s ‘Serenity’ Opal CharmThe “Serenity” charm set with 13 opals is a modern amulet offering protection, guidance, and intention, the brand said.
CollectionsJan 08, 2026
Pandora’s New ‘Bridgerton’ Jewels Celebrate Bees, Bows, and Blooms“Bridgerton” actresses Hannah Dodd and Claudia Jessie star in the brand’s “Rules to Love By” campaign.
Events & AwardsJan 08, 2026
Ana Khouri To Receive 2026 Gem Award for High Jewelry ExcellenceFounded by jeweler and sculptor Ana Khouri, the brand is “expanding the boundaries of what high jewelry can be.”
TrendsJan 08, 2026
Stuller’s Color of the Year Is a Stark Contrast to Pantone’s WhiteThe jewelry manufacturer and supplier is going with a fiery shade it says symbolizes power and transformation.
CollectionsJan 08, 2026
Gracie Abrams To Front New Chanel Jewelry CampaignThe singer-songwriter will make her debut as the French luxury brand’s new ambassador in a campaign for its “Coco Crush” jewelry line.
MajorsJan 08, 2026
Diamond Council of America Names New Board DirectorsThe nonprofit’s new president and CEO, Annie Doresca, also began her role this month.
ColumnistsJan 07, 2026
Peter Smith: Physical Retail—The Beginning or the End?As the shopping mall model evolves and online retail grows, Smith shares his predictions for the future of physical stores.
