MajorsJul 21, 2025
Rio Grande Expands Personalization OfferingsAs demand for custom jewelry grows, the company is expanding its services to support retailers.
FinancialsNov 22, 2016
Signet Same-Stores Sales Down 2 Percent in Q3
The decrease, less than initially expected for the period, is attributed to declining sales in under-performing stores and weakness in energy-dependent regions.
Hamilton, Bermuda--Signet Jewelers Ltd. said that both same-store sales and total sales were down amid “challenging market conditions” in its third quarter ended Oct. 29.
The company reported Tuesday that same-store sales were down 2 percent in the 13-week period, marking the second consecutive quarter they were down. A decline during the quarter was expected, though the actual decrease was less than predicted--in the second quarter, the company indicated it expected Q3 comps to be down between 3 percent and 5 percent.
Meanwhile, total sales in the third quarter decreased nearly 3 percent to $1.19 billion in the third quarter, and total sales on a constant currency basis declined almost 1 percent.
The company attributed the decline in sales to under-performance in select stores, like some regional stores and some Jared stores, weakness in states where the economy is tied to the energy industry and declines in select collections such as Charmed Memories and watches.
This was slightly offset by strong performances during the quarter from fashion diamond jewelry, gold jewelry and select branded bridal, especially the Neil Lane and Vera Wang collections.
By operating segment, Sterling Jewelers’ same-store sales decreased 4 percent. Within this, comps at Kay during the period declined 3 percent while comps at Jared decreased 5 percent.
The Zale division, which includes Zales stores in the United States and Canada as well as Piercing Pagoda, saw comps decrease by more than 1 percent, with Zale US down by 2 percent.
Signet’s operating income was $32.1 million in the third quarter, compared with $33.6 million in the prior-year period.
The company also noted that it is continuing to review its credit program, which has come under some scrutiny in the past, and is looking into a number of options from retaining and optimizing the current in-house credit business to seeking a partnership that would enable it to gain greater financial flexibility.
Signet Jewelers also launched its clienteling system in Kay and Jared stores, which allows them to capture customer information to improve interactions between them and the sales team.
The company outlined a number of holiday season initiatives for the fourth quarter in its earnings call, including more targeted messaging and advertising in its marketing plan, expanding the Ever Us line with new extensions, leveraging the arm and ear trends with more products like stacking bracelets and ear climbers, and extending the Vera Wang collection into fashion jewelry.
Still,
when it comes to the fourth quarter, Signet said its guidance remains the same, with comps expected to decrease between 2 and 4 percent in a “relatively uncertain environment.”
More on Financials
The Latest
Events & AwardsJul 21, 2025
NAJA’s 2025 ‘Ace It’ Conference To Go VirtualThe mid-year conference for jewelry and watch appraisers is slated for Aug. 9 to 10 on Zoom.
TrendsJul 21, 2025
Amanda’s Style File: Graduated With Honors Graduated stones make for elevated tennis-style pieces and dramatic statement necklaces.
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.
Events & AwardsJul 21, 2025
Gem Awards Now Accepting Nominations for 2026Nominations in the categories of Jewelry Design, Media Excellence, and Retail Innovation will be accepted through July 30.
Weekly QuizJul 17, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
MajorsJul 18, 2025
Lewis Heyman on Sourcing Gemstones, Post-Retirement PlansHe retired last month after 28 years traveling the world to source the very best gemstones for his family’s jewelry business, Oscar Heyman.
TrendsJul 18, 2025
Piece of the Week: CCWW Designs’ Shell Charm NecklaceThe charm necklace features six nautical charms of shells and coral that founder Christina Puchi collected on Florida’s beaches.
Brought to you by
Investing in the Next Generation of Bench JewelersThe Seymour & Evelyn Holtzman Bench Scholarship from Jewelers of America returns for a second year.
MajorsJul 18, 2025
Plumb Club Elects New Board MembersThe organization elected its youngest vice president as it looks to draw in fresh talent.
TechnologyJul 18, 2025
Brad Campbell, John Liebler Join Clientbook’s Executive Team Campbell joins the company as vice president of business development while Liebler is the new vice president of operations.
CollectionsJul 17, 2025
2026 Winter Olympic Medal Design Symbolizes UnityThe medals feature a split-texture design highlighting the Games’ first time being hosted by two cities and the athletes’ journeys.
Supplier BulletinJul 17, 2025
The INSTORE Jewelry Show 2025: Your Holiday Preparations, All Wrapped Up! Sponsored by The INSTORE Jewelry Show 2025
SurveysJul 17, 2025
The Most Recommended Brands in the World, According to YouGovGlobally, travel and transportation brands reigned, while in the U.S., alcoholic beverage companies and a lingerie brand took the top spots.
IndependentsJul 17, 2025
Gina Ferranti of GiGi Ferranti Jewelry Dies at 59The Brooklyn-based jewelry designer is remembered as a true artist and a rare talent.
SourcingJul 17, 2025
Rio Tinto Names New CEO, Production Rises at DiavikProduction at the mine in Canada’s Northwest Territories topped 1 million carats in Q2, the third consecutive quarter of growth.
Events & AwardsJul 17, 2025
JA to Hold Learning Workshops This FallA new slate of Learning Workshops will take place in Oklahoma, Mississippi, and Georgia.
SurveysJul 16, 2025
Signet Jewelers Falls Lower on NRF’s ‘Top 100’ Retailers ListThe middle class is changing its approach to buying jewelry and affordable luxury goods, the NRF said.
WatchesJul 16, 2025
The Top-Selling Rolex Models of the Last 15 Years, According to Bob’s Watches The reseller’s market trends report, based on its sales data, also shows exactly how much Rolex prices have jumped since 2010.
AuctionsJul 16, 2025
Christie’s To Honor Dinh Van With ExhibitionThe auction house will be hosting a retrospective paying tribute to jeweler Jean Dinh Van and his company’s 60th anniversary.
IndependentsJul 16, 2025
Clyde Duneier Ushers In Fourth GenerationJake Duneier and Danielle Duneier-Goldberg have stepped into the roles of CEO and president, respectively.
CollectionsJul 15, 2025
Boucheron’s New High Jewelry Calls Attention to Nature’s ImpermanenceThe “Impermanence” collection contemplates nature through the Japanese art of Ikebana (flower arranging) and philosophy of wabi-sabi.
MajorsJul 15, 2025
James Avery Expands to 2 More StatesThe Texas-based jewelry retailer has set up shop in Tennessee and Arizona.
Events & AwardsJul 15, 2025
Neiman Marcus Vet Joins Couture as Brand Director Eric Ford will step into the role, bringing with him decades of experience.
MajorsJul 15, 2025
Ben Bridge Jeweler Acquires Olympic ManufacturingIn addition to improved capabilities, the acquisition will allow the jeweler to offer support to other independent jewelers.
CollectionsJul 15, 2025
Guzema Debuts First Colored Gemstone JewelryThe “Celestial Blue” capsule collection campaign features Olympian Kateryna Sadurska.
MajorsJul 14, 2025
Nanis Opens First StoreThe seasonal store, located in Mykonos, Greece, offers exclusive events, personal styling, and curated experiences.
IndependentsJul 14, 2025
It’s the Summer of Love at Long’s JewelersThe New England jeweler is hosting a bridal event for the month of August.
