IndependentsJun 05, 2026
Pennsylvania Jewelry Store To Close After 79 YearsJim Springer, owner of Dunkelberger’s Fine Jewelry, is heading into retirement.
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
SurveysJun 05, 2026
Consumers to Cut Back on Spending Amid Rising Prices, Survey Shows When conducting its May consumer confidence survey, The Conference Board asked extra questions about consumers’ budgeting strategies.
CollectionsJun 05, 2026
Rebel Jewelry’s Charm Symbolizes Perseverance for Pride MonthThe “Tunnel” charm, our Piece of the Week, celebrates Pride Month with its design inspired by hope and the light at the end of the tunnel.
Brought to you by
All Eyes on Gold Prices. Alternatives to Look For. And What to BEWARE of in VegasAs gold prices rise, today’s retailers are looking for alternatives at prices that will appeal to wider audiences.
SourcingJun 05, 2026
State of Diamonds: The Way Forward for Natural DiamondsThe jewelry industry is reassessing its positioning as Gen Z reshapes the retail landscape and lab grown continues to gain market share.
Weekly QuizJun 05, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
AuctionsJun 04, 2026
Treasures from Maurice Tempelsman’s ‘Marvelous’ Life Head to AuctionUp for auction at Sotheby’s, the collection of Tempelsman’s personal effects includes a Cartier Tank watch Jackie O. gifted him.
CollectionsJun 04, 2026
Buddha Mama to Spend the Summer in AspenThe Miami-based fine jewelry brand will host its first summer residency in the Colorado mountain town from June 5 to Aug. 23.
Brought to you by
How Modern Training Is Becoming a Competitive Advantage for Jewelry RetailersWith the trade and customer trust in mind, GIA® developed NextGem™ – on-demand training designed specifically for retail.
MajorsJun 04, 2026
AGS Honors Late Peter Yantzer, Holds Time Capsule CeremonyThe organization also announced its international board of directors for the 2026-2027 term.
MajorsJun 04, 2026
Neiman Marcus’ Downtown Dallas Store to Close in SeptemberSaks Global confirmed the closure this week, spelling the end for a store that’s been part of downtown Dallas for more than 100 years.
ColumnistsJun 03, 2026
Peter Smith: When Top Talent Leaves and What It Says About YouSmith discusses how managers should handle a top performer's exit, warning that a poor response could have a lasting impact.
GradingJun 03, 2026
GIA’s Tracr Investment Is First Step Toward Industry-Owned PlatformThe Gemological Institute of America is now a 30 percent stakeholder in Tracr, the De Beers-backed blockchain for diamonds.
WatchesJun 03, 2026
The 1916 Company Taking Pre-Owned Rolexes on the Road, AgainThe retailer is bringing Rolex Certified Pre-Owned watches to five U.S. cities in 2026 for collectors to see, try on, and purchase.
IndependentsJun 03, 2026
Jessica Alba Is the New Face of Gabriel & Co.The actress and entrepreneur stars in the jeweler’s new campaign that celebrates life’s quiet moments.
TrendsJun 03, 2026
State of Design: Only the Innovative Will SurviveThe price of gold has risen, affecting the number of pieces designers make, the materials they use, and how they position themselves.
SourcingJun 02, 2026
Leader Appointed for Botswana’s Diamonds for Development Fund Dr. Akinwumi Adesina, a development economist, will head the fund created to help Botswana diversify its economy.
WatchesJun 02, 2026
Watch Industry Veteran James Marks Joins Sotheby’sSotheby’s has appointed the former Phillips executive as its global head of private sales and retail in its watches division.
AuctionsJun 02, 2026
Sotheby’s to Auction 10-Carat Blue Diamond, 1960s Harry Winston Necklace A private collection of five Paraíba tourmalines also will be up for sale at Sotheby’s High Jewelry auction in New York, scheduled for June 16.
IndependentsJun 02, 2026
State of Retail: 6 Things Retailers Should Know About Consumers TodayFrom Gen Z’s view of luxury to “doom spending,” these are the six consumer trends to note this year.
Events & AwardsJun 01, 2026
Design Atelier Brands Have a Big Night at Emotional Couture Design AwardsThe show started by honoring Mildred Marcano, ended with a tearful Beth Anne Bonanno, and recognized a dozen-plus designers in between.
SourcingJun 01, 2026
RapNet Rebranding as Rapaport TradeThe revamped online diamond marketplace will feature pricing intelligence and data-driven tools for more efficient buying and selling.
SourcingJun 01, 2026
Gemfields’ Higher-Quality Emerald Auction Achieves $26.8MThe miner said demand for higher-quality emeralds is stable, but there is notable caution in the market.
CollectionsMay 29, 2026
Cultus Artem’s Necklace Is the Oasis in Las Vegas’ DesertThe “River of Heaven” necklace, our Piece of the Week debuting at Couture, combines 26 salt and pepper diamonds spaced by Tahitian pearls.
IndependentsMay 29, 2026
Meet the 2026 Retailer Hall of Fame InducteesThis year’s inductees include second-, third-, and fourth-generation jewelers.
Events & AwardsMay 28, 2026
JCK Announces Jesse Itzler as 2026 Keynote SpeakerThe author, speaker, and entrepreneur will give his presentation, “Spiritual Billionaire,” on Saturday morning.
Events & AwardsMay 28, 2026
JCK Rocks To Ride With NellyThree-time Grammy award-winning artist Nelly is set to perform at the annual event at Tao Beach on Sunday night.
MajorsMay 28, 2026
Signet Jewelers to Buy The Clear Cut Signet will integrate the online-only, natural diamond-focused jeweler into Blue Nile, which it wants to position as a higher-end retailer.
