EditorsJun 11, 2026
This Was the Best Animal Jewelry in Las Vegas From lions and hippos to snails and fish, Senior Editor Lenore Fedow wrangles her picks for cutest jewelry critters in Las Vegas.
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
SourcingJun 11, 2026
Grandview Klein, London Jewelers Partner To Cut 63-Carat RoughThe big stone will be fashioned into a 20.26-carat diamond in celebration of the retailer’s 100th anniversary this year.
MajorsJun 11, 2026
Former Cartier Creative Director To Head Chanel’s Jewelry Creation StudioMarie-Laure Cérède will join Chanel as the new director of its jewelry creation studio, starting in October.
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.
Lab-GrownJun 11, 2026
Smiling Rocks’ ‘Wish Jar’ Generates 100+ Wishes in Las Vegas At the JCK show, the lab-grown diamond brand teamed up with Jewelers for Children to support Make-A-Wish India.
Weekly QuizJun 11, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
SourcingJun 11, 2026
Signet Jewelers Exec Joins Diamonds Do Good BoardIlana McCabe is Signet’s vice president of public relations and brand communications.
AuctionsJun 10, 2026
31.62-Carat ‘Azure Blue’ Diamond Sells For $8M+ at Christie’sIt was a banner day for blue gemstones, with another blue diamond topping $8 million and a 41-carat sapphire going for $2.3 million.
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 10, 2026
Saks Global Receives Bankruptcy Court Approval for ReorganizationThe approval means the retailer is on track to exit bankruptcy proceedings this summer.
CrimeJun 10, 2026
2 Suspects Arrested in Texas Jewelry Store RobberyThe men are believed to be part of the group of several masked suspects that robbed Marc Robinson Jewelers in April.
CollectionsJun 10, 2026
Sylvie Debuts ‘Elevated’ Bridal Collection Inspired By Designer’s RingThe bridal-focused brand is also launching its Custom Atelier this summer, a digital custom design tool for its authorized retailers.
EditorsJun 09, 2026
Q&A: Al Cook on the Lab-Grown ‘Bubble,’ Dwindling Diamond Supply The De Beers Group CEO also discussed tariffs, Desert Diamonds, and the pending sale of De Beers in an interview with Michelle Graff.
MajorsJun 09, 2026
Wilkerson's Russ Whitehouse RetiresThe industry veteran is bringing his 56-year run in the fine jewelry sector to an end.
Events & AwardsJun 09, 2026
Pride Month Panel to Highlight LGBTQ+ Jewelry VoicesThe panel discussion will feature LGBTQ+ leaders across the jewelry, luxury, and creative industries.
CollectionsJun 09, 2026
Marie Lichtenberg’s New Capsule Collection Is a Smash, LiterallyInspired by a locket that got run over, the “Smash” capsule collection reimagines the shape of Lichtenberg’s signature style.
MajorsJun 09, 2026
Frederick Goldman Names Director of Sales for SoutheastThe company has promoted Katherine Whitacre to the role.
MajorsJun 08, 2026
Stuller Expands Selection of Lab-Grown Diamonds, Demi-Fine JewelryThe jewelry manufacturer has added Taylor Swift-esque diamond shapes, and more silver, gold vermeil, and gold-plated jewelry.
SourcingJun 08, 2026
Sally Morrison to Depart De Beers This Summer Morrison has been marketing diamonds on and off since the early 2000s and said she is leaving to “pursue new projects.”
TrendsJun 08, 2026
Amanda’s Style File: June’s Birthstone TrioThose born in June can celebrate with pearl, alexandrite, and moonstone jewelry.
TechnologyJun 08, 2026
Overnight Mountings Launches Ring Builder PlatformThe platform allows retailers to guide clients through a customizable engagement ring buying experience in a branded interface.
IndependentsJun 05, 2026
Pennsylvania Jewelry Store To Close After 79 YearsJim Springer, owner of Dunkelberger’s Fine Jewelry, is heading into retirement.
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.
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.
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.
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.
