CollectionsNov 19, 2025
Larkspur & Hawk Celebrates 25 Years With Helena Bonham Carter CampaignThe British actress and her daughter modeled pieces from the brand’s new “Palette” capsule for its “Once Upon a Time” holiday campaign.
FinancialsJan 11, 2017
Signet Reports ‘Disappointing’ Holiday Sales
November-December comps were down 5 percent for the company that owns Kay Jewelers and Zales.
Lighter mall traffic was part of the reason Signet Jewelers saw holiday season sales drop. Same-store sales at Kay Jewelers stores specifically declined 5 percent, with freestanding stores outperforming mall locations.
Akron, Ohio--Hurt by the decline in mall traffic and lost online sales due to overloaded websites, Signet Jewelers Ltd. turned in what CEO Mark Light deemed a “disappointing” holiday performance.
Signet’s same-store sales in November and December declined nearly 5 percent, compared to an increase of 5 percent in the same period last year.
Total sales were $1.94 billion, down 5 percent from $2.05 billion last year.
At constant exchange rates, same-store sales were down 3 percent while total sales slipped 5 percent.
On a conference call Wednesday morning, Signet CEO Mark Light said the main driver behind the decline in sales was the poor performance of the websites for the Sterling division stores, Kay Jewelers, Jared the Galleria of Jewelry and its regional brands.
Signet upgraded its sites to include responsive design, better navigation and enhanced product detail pages, among other improvements, and tested them in the spring.
But the sites were never tested for the amount of traffic they would receive over the holiday season and didn’t hold up; they were slow, and there were customer communications issues and purchasing disruptions.
“The traffic was so heavy that our legacy systems couldn’t handle the improvements that we made,” Light said.
Signet’s e-commerce sales totaled $142.5 million in November and December, down 2 percent compared with the prior year.
The decline was due entirely to technical issues with the Sterling brands websites. Sites for brands in the Zale division, Zales Jewelers, Piercing Pagoda, Gordon’s Jewelers and Peoples and Mappins in Canada, recorded a 14 percent increase in sales.
Also compounding Signet’s problems this holiday season was the decline in mall traffic, which led to lower overall sales and forced department stores to be “highly promotional,” Light said, noting that Signet “elected consciously not to chase these sales” in an effort to maintain margin.
Kay Jewelers and Jared the Galleria of Jewelry both posted a nearly 5 percent decline in comps, while same-store sales were down 3 percent for Zales Jewelers. The Piercing Pagoda was the only Signet chain to record positive same-store sales, with a 4 percent increase on the back of strong sales of 14-karat gold jewelry.
Light said diamond fashion jewelry did well, including the Ever Us two-stone rings and extensions to the Vera Wang “Love” collection.
Signet lowered its guidance for its fiscal fourth quarter, which includes the month of January.
The retailer now expects a 4.3 to 4.8 percent decline in same-store sales for the
period, up from the 2 to 4 percent previously forecast.
For the full fiscal year, comps are expected to be down 2 to 2.5 percent, up from the 1 to 2.5 percent previously forecast.
For the full fiscal year, comps are expected to be down 2 to 2.5 percent, up from the 1 to 2.5 percent previously forecast.
More on Financials
The Latest
TechnologyNov 19, 2025
Google Has a New Form for Reporting ‘Review Bombing’ Attacks Plus, the tech giant shares the steps retailers should take if they believe they’re a victim of a review extortion scam.
IndependentsNov 19, 2025
Houston Jeweler Keith Shaftel Retires, Next Generation Steps In Danny and Gaby Shaftel are now Shaftel Diamonds’ CEO and chief operating officer, respectively.
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.
TrendsNov 19, 2025
Midas Chain Releases 2025 Holiday Style GuideThe jewelry manufacturer’s seasonal offering features its new “Melodie” bangles, as well as mini stud earrings and layering pieces.
Weekly QuizNov 13, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Events & AwardsNov 18, 2025
NYC Jewelry Week 2025: 12 Must-See EventsWith more than 140 activations taking place in New York City now through Nov. 23, these 12 events are can’t-miss moments.
MajorsNov 18, 2025
Lugano Diamonds Files for Bankruptcy, Looking for BuyerThe Chapter 11 filing follows the resignation of CEO Moti Ferder, who stepped down after an investigation into the company’s finances.
Brought to you by
Roseco Releases New Full-Line CatalogRoseco’s 704-page catalog showcases new lab-grown diamonds, findings, tools & more—available in print or interactive digital editions.
Events & AwardsNov 18, 2025
A Giant, Bejeweled Moldy Berry Is on Display in LAThe artwork is part of an exhibition featuring works by Kathleen Ryan, an artist known for her gemstone-studded rotting fruit sculptures.
SourcingNov 18, 2025
Another Diamond Company CEO Steps DownMark Wall, president and CEO of Canadian mining company Mountain Province Diamonds, will vacate his position next month.
CrimeNov 17, 2025
Police Searching for 2 Suspects in Murder of Father, Son Jewelers Faustino Alamo Dominguez and his son, 25-year-old Luis Angel Alamo, were gunned down following an armed robbery at their jewelry store.
GradingNov 17, 2025
IGI Announces New President of North AmericaTiffany & Co. veteran Jeffrey Bennett has stepped into the role.
MajorsNov 17, 2025
Look Inside Robbins Brothers Fine Jewelers’ New Pasadena FlagshipThe showroom is located in a historic 1920s building in the Playhouse District.
Policies & IssuesNov 14, 2025
U.S., Switzerland Reach Deal That Drops Tariff to 15%The Swiss government announced the deal, which cuts the tax on Swiss imports by more than half, on social media Friday morning.
AuctionsNov 14, 2025
Napoleon’s Diamond Brooch Blows Away Auction Estimates A buyer paid $4.4 million for the piece, which Napoleon wore on his hat for special occasions and left behind when he fled Waterloo.
CollectionsNov 14, 2025
Piece of the Week: Silvia Furmanovich’s ‘Butterflies in Flight’ Jewelry BoxFurmanovich designed the box to hold Mellerio’s “Color Queen,” a high jewelry collection consisting of 10 rings.
Events & AwardsNov 14, 2025
JCK Names New Event DirectorJennifer Hopf, who has been with JCK since 2022, will lead the execution of the long-running jewelry trade show.
IndependentsNov 13, 2025
127-Year-Old New Orleans Jeweler to CloseAdler’s Jewelry is set to close its two stores as 82-year-old owner Coleman E. Adler II retires.
IndependentsNov 13, 2025
Green Lake Jewelry Works to Move to New Seattle StudioFounder Jim Tuttle shared how a dedication to craftsmanship and meaningful custom jewelry fueled the retailer’s double-digit growth.
MajorsNov 13, 2025
Vahan Jewelry Founder Leon ‘Sacha’ Der Calousdian Dies at 85The third-generation jeweler is remembered as a passionate creative with a love of art, traveling and sailboat racing.
CrimeNov 12, 2025
Father, Son Jewelers in Chicago Victims in Double Homicide JSA and Cook County Crime Stoppers are both offering rewards for information leading to the arrest of the suspect or suspects involved.
AuctionsNov 12, 2025
‘Mellon Blue’ Diamond Sells for $7M Less Than It Did a Decade AgoA buyer paid $25.6 million for the diamond at Christie’s on Tuesday. In 2014, Sotheby’s sold the same stone for $32.6 million.
AuctionsNov 12, 2025
Historic Rolex Oyster Fetches $1.7M at Sotheby’sMercedes Gleitze famously wore the watch in her 1927 swim across the English Channel, a pivotal credibility moment for the watchmaker.
GradingNov 12, 2025
It’s Time: GIA’s Express Holiday Service Is Back GIA is offering next-day services for natural, colorless diamonds submitted to its labs in New York and Carlsbad.
MajorsNov 10, 2025
Jewelers Focus on Love, Joy In 2025 Holiday Campaigns Tiffany & Co., David Yurman, and Pandora have launched holiday campaigns depicting their jewelry as symbols of affection and happiness.
SurveysNov 10, 2025
5 Things Retailers Should Know About Holiday Shoppers This YearThe National Retail Federation is bullish on the holidays, forecasting retail sales to exceed $1 trillion this year.
AuctionsNov 10, 2025
300+ Colored Diamonds Up for Auction at Christie’sLate collector Eddy Elzas assembled “The Rainbow Collection,” which is offered as a single lot and estimated to fetch up to $3 million.
