MajorsAug 21, 2025
Claire’s Finds Buyer, Could Save up to 950 StoresThe retailer, which recently filed Chapter 11, inked a deal to sell its North American business and intellectual property.
FinancialsMar 24, 2016
Signet’s Full-Year Comps Rise 4 Percent
CEO Mark Light called it “an excellent finish to another strong year” for the retailer, aided by strong diamond fashion jewelry sales in the fourth quarter.
Akron, Ohio--Signet Jewelers Ltd. finished the year with a 4 percent increase in same-store sales, buoyed by strong diamond fashion jewelry sales in the fourth quarter.
The retailer reported Thursday morning that total sales for the year were up 14 percent, from $5.74 billion to $6.55 billion. Fiscal 2016, which ended Jan. 30, was the first full fiscal year in which Signet owned all the Zale brands.
Net income rose from $381.3 million to $467.9 million.
As previously announced, fourth quarter same-store sales were up 5 percent.
Total sales in the period went from $2.28 billion to $2.40 billion, also an increase of 5 percent.
Signet reiterated on its earnings call held Thursday morning that the “Ever Us” collection of two-stone rings was a major driver of sales in the fourth quarter, with CEO Mark Light calling it “one of the most significant innovations in the jewelry industry in years.”
The retailer is testing line extensions planned for release for the 2016 holiday season.
Light said earring and bracelet sales also were strong in Q4 as was bridal, particularly Vera Wang Love, Neil Lane, Tolkowsky and, at H. Samuel in the U.K., Forever Diamond.
Among its various chains, Kay recorded the highest same-store fourth quarter sales at 7 percent, followed by Zales Jewelers and Piercing Pagoda at 6 percent.
Comps for Jared the Galleria of Jewelry increased only 1 percent, with Light noting that the chain faces a different challenge as an off-mall store with a different set of competitors than Kay and Zales and is doing comparatively well in its market.
Jared is in a “transitional phase,” he said, with the impending addition of Pandora shop-in-shops and a new program Signet is testing called “Chosen Diamond,” where customers will be able to trace the entire journey of their diamond from mine to store.
During Thursday’s call, Signet Chief Financial Officer Michele Santana also addressed the strength of Sterling’s in-house credit program, which Bloomberg Business called into question in an article published last month, speculating that the retailer is taking too much risk with the type of people to whom it offers jewelry on credit.
This is the second time the retailer has spoken out in defense of Sterling’s in-house credit program since the Bloomberg story ran.
Santana said that customers’ “emotional attachment” to their jewelry purchases supports repayment history, and that offering credit--which 75 percent
Editors' Picks
Sponsored by
of Sterling customers use when purchasing bridal--allows them to develop relationships and market to their customers.
She also noted that the in-house credit finance is designed for rapid repayment and turns over in nine months on average, and that the average FICO score of those receiving credit from Sterling has been in consistent range for a number of years.
Looking ahead, Signet said it expects a same-store sales increase of 3 to 4 percent in the first quarter, while it projects comps for the fiscal year to increase between 3 and 5 percent.
She also noted that the in-house credit finance is designed for rapid repayment and turns over in nine months on average, and that the average FICO score of those receiving credit from Sterling has been in consistent range for a number of years.
Looking ahead, Signet said it expects a same-store sales increase of 3 to 4 percent in the first quarter, while it projects comps for the fiscal year to increase between 3 and 5 percent.
More on Financials
The Latest
MajorsAug 21, 2025
Target Names New CEO as Sales Continue to Lag Target CEO Brian Cornell will step down in February and be replaced by the company’s chief operating officer, Michael Fiddelke.
Policies & IssuesAug 21, 2025
JA, IDMA Talk Tariffs With Execs in DC The group met with the president's senior trade advisor earlier this week to express the industry’s concerns about the effects of tariffs.
Brought to you by
Rallying Call for the Jewelry Industry on Tariffs and Other Key IssuesJewelers of America is leading the charge to protect the industry amidst rising economic threats.
MajorsAug 21, 2025
Tiffany & Co. Pops Up at 2025 US OpenThe pop-up will display this year's Tiffany & Co. Singles Championship trophies along with a diamond-encrusted tennis racket and ball.
Weekly QuizAug 15, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
IndependentsAug 20, 2025
Bellman’s Jewelers Opens Second Store After COO's TikTok Takes OffThe New Hampshire-based store has expanded to Boston, propelled by the success of Alex Bellman’s TikTok page, “The Truthful Jeweler.”
CrimeAug 20, 2025
Another CA Jewelry Store Rammed With Car, RobbedThe latest incident happened Monday at a store in Oakland, California, continuing a pattern JSA first warned about last month.
Brought to you by
Taking the Moment Head On: How Rio Grande Champions the Present & Future of Fine JewelryAs a leading global jewelry supplier, Rio Grande is rapidly expanding and developing new solutions to meet the needs of jewelers worldwide.
WatchesAug 20, 2025
Oris Launches Watch Benefiting NYC Harbor Oyster RestorationThe new aqua green New York Harbor Limited Edition II is the watchmaker’s second collaboration with the Billion Oyster Project.
Events & AwardsAug 20, 2025
Take the Jewelers for Children ‘Trinity of Purpose’ ChallengeParticipants who attend any three Rings of Strength events will be awarded a special medal.
SourcingAug 19, 2025
Dubai’s Jemora Group Buys Diamond Miner LucapaThe investment company, founded by Dev Shetty, has acquired the struggling miner and its assets, including the Lulo mine in Angola.
ColumnistsAug 19, 2025
Peter Smith: The Arrival Fallacy and Jewelry RetailSmith shares wisdom he gleaned from a podcast he was listening to one morning while being walked by his dog, a Malshi named Sophie.
CrimeAug 19, 2025
Customs Seizes 7,300 Pairs of Fake ‘Alhambra’ EarringsThe counterfeit Van Cleef & Arpels jewels would have been worth more than $30 million if genuine.
MajorsAug 19, 2025
MJSA Apprenticeship Program Is Nationally RecognizedThe MJSA Mentor & Apprenticeship Program received the Registered Apprenticeship Program designation by the U.S. Department of Labor.
WatchesAug 19, 2025
Casio America Names New Timepiece Division ManagerCasio executive and watch enthusiast Masaki Obu is the new general manager of its U.S. timepiece division.
MajorsAug 18, 2025
Verragio’s Michael Barabash, a ‘Kind Soul,’ Dies at 58Barabash, Verragio’s client relations representative, was a vital member of the team and is remembered as being warm and full of life.
CollectionsAug 18, 2025
John Hardy’s New ‘Dot’ Collection Is on PointOriginally introduced in 1992, the “Dot” collection is back with a capsule featuring five archival designs and three new creations.
Events & AwardsAug 18, 2025
IJO Announces 2025 Vendor of the YearAllison-Kaufman has received the honor for the fourth year in a row.
EditorsAug 15, 2025
Piece of the Week: Etho Maria’s Showgirl-Approved Ruby Drop Earrings Taylor Swift dons the vibrant pair in new promotional imagery for her upcoming album, “The Life of a Showgirl,” set to release in October.
WatchesAug 15, 2025
Audemars Piguet Acquires Majority Stake in ManufacturerIts investment in micromechanics expert Inhotec will preserve skills essential to the watchmaking industry as a whole, said the company.
MajorsAug 15, 2025
Rio Grande Names New Marketing DirectorNicolette Bianchi joins the wholesale provider with more than 15 years of cross-industry experience in marketing and product development.
CollectionsAug 14, 2025
In Midst of ‘Sardine Girl Summer,’ Pippa Small Looks to ‘Flounder Fall’Her new “Ocean” collection was inspired by Myanmar’s traditional articulated fish jewelry, with depictions of flounder, catfish, and more.
MajorsAug 14, 2025
Casio America Names New CEOLongtime Casio executive Yusuke Suzuki is the new president and CEO of Casio’s U.S. subsidiary.
SourcingAug 14, 2025
West Coast Orgs to Host Trading Event, Mixer in LAThe full-day sourcing and networking event, slated for Aug. 18, will be followed by the fifth annual Mega Mixer Summer Soirée.
TrendsAug 13, 2025
Cristiano Ronaldo Proposes With Gigantic Oval-Cut DiamondModel Georgina Rodríguez received a rock of an engagement ring, with her diamond estimated to be 35 carats, experts say.
SourcingAug 13, 2025
ICA Names 2025 Board of DirectorsThe board elected 9 new directors at its recent ICA Congress in Brazil.
TrendsAug 13, 2025
Colorado Jeweler, Whiskey Maker Collab on Ring GiveawayThree winners will receive a custom ring from Honest Hands Ring Co. inlaid with a piece of history from Denver-based distillery Stranahan’s.
