WatchesMay 19, 2026
Here’s the AP x Swatch Pocket Watch That Caused PandemoniumThe $400 pocket watch is a blend of Audemars Piguet’s iconic eight-sided Royal Oak and Swatch’s unserious Pop watches from the ‘80s.
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
Editors' Picks
Sponsored by
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
CollectionsMay 19, 2026
Chris Ploof’s New Collection Makes an Ancient Medal ModernWith gold prices on the rise, the “Modern Electrum” collection uses an alternative, non-tarnishing metal alloy composed of gold and silver.
IndependentsMay 19, 2026
Ellen and Michael Fruchtman Retire, Sell Marketing Agency Fruchtman Marketing has new owners, Erin Moyer-Carballea and Manuel Carballea, and will relocate to Miami.
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.
ColumnistsMay 19, 2026
Peter Smith: The (Mostly) Immutable Sales TruthsIn a column for the 2026 State of the Majors issue, Smith lists 10 time-tested principles about sales that still ring true.
Weekly QuizMay 14, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
ColumnistsMay 18, 2026
Edahn Golan: What a K-Shaped Economy Means for Fine JewelryIn a column for the 2026 State of the Majors issue, Golan spells out how the growing economic divide in the U.S. is reshaping the market.
CollectionsMay 18, 2026
Foundrae’s New Collection Taps Into JoyThe “Limitless Expansion of Joy and Hope” collection evokes summer through colored gemstones and motifs of butterflies and florals.
Brought to you by
Discover Timeless Treasures: A Showcase of Antique Jewelry & Timepieces in Las VegasGain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.
CollectionsMay 18, 2026
Hancocks London Acquires Historic ‘Inchiquin’ EmeraldThe jewel, circa 1890, is from the late Victorian era and was owned by descendants of the last high king of Ireland.
Events & AwardsMay 18, 2026
Here Are the 2026 JCK Industry Fund Grant Recipients This is what the nine recipients plan to do with the funds.
AuctionsMay 15, 2026
American Collector Ponies Up Almost $17K for John Wayne’s RingThe Western star’s 14-karat gold signet ring sold for six times its low estimate following a bidding war at U.K. auction house Elmwood’s.
Events & AwardsMay 15, 2026
JA, MJSA To Sponsor Roundtable at TJSThe discussion, "Rebuilding the Jewelry Workforce," will take place on Saturday, May 16, in Troy, Michigan.
SourcingMay 15, 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.
AuctionsMay 14, 2026
White Diamonds Lead Sotheby’s Auction, Blue Diamond Does Not SellA matching pair of 18.38-carat, D-color diamonds from Botswana’s Jwaneng mine sold for $3.3 million, the top lot of the jewelry auction.
Supplier BulletinMay 14, 2026
A Diamond Is Forever Continues Desert Diamonds – Bridal ReinvigoratedSponsored by A Diamond Is Forever
SourcingMay 14, 2026
State of Colored Stones: The Spirit of Young American Gemstone CuttersThe next generation of lapidarists are entrepreneurial, engaged online, and see the craft as a means for artistic expression.
AuctionsMay 14, 2026
‘Ocean Dream’ Makes Waves at Christie’s, Fetching $17MIt was the second auction appearance for the fancy vivid blue-green diamond, which sold for $7.8 million at Christie’s Geneva 12 years ago.
CrimeMay 14, 2026
Second Man Arrested in Florida Pawn Shop Shooting Members of the U.S. Marshals Task Force took a 22-year-old man into custody. He was charged with tampering with evidence.
CrimeMay 13, 2026
JSA’s 2025 Crime Report Shows ‘Concerning’ Rise in ViolenceWhile the overall number of crimes was down, there were more incidences in which robbers pulled out guns, mace, or rammed cars into stores.
IndependentsMay 13, 2026
New Orleans Jeweler Closing Canal Place StoreJack Sutton Fine Jewelry is closing its store inside the downtown shopping center after 40 years in business.
SourcingMay 13, 2026
Smithsonian Acquires ‘Winston Red’ Diamond PaintingReena Ahluwalia’s painting of the rare red diamond is the first contemporary painting to join the National Gem Collection.
TrendsMay 13, 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.
ColumnistsMay 12, 2026
It’s Official: We’re Getting ‘Brain Rot’ From Watching Short-Form Videos Peter Smith gives tips on leading meetings, developing marketing, and making trade show appointments in the age of short attention spans.
CollectionsMay 12, 2026
Jessica McCormack Debuts Antique Coin-Inspired Medallions for SummerThe 11-piece “Medallions” capsule collection features five motifs: a crying eye, a heart on fire, a spiral, a flower, and a swallow.
IndependentsMay 12, 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 & AwardsMay 12, 2026
The Tiffany & Co. x CFDA Jewelry Designer Award Is BackThe partners have announced the second cycle of the program, which has expanded to include a $25,000 student scholarship.
IndependentsMay 11, 2026
Kansas Jeweler Closing After 70 YearsThe owners of Staats Jewelers are heading into retirement.
