“Shell Auranova” is the next generation of the brand’s bridal line, featuring half-bezel engagement rings with bold and fluid designs.
Signet’s Q3 Same-Store Sales Drop 5%
The retailer said the hurricanes and problems surrounding the outsourcing of its credit portfolio contributed to the decline.

Akron, Ohio--Signet Jewelers Ltd. recorded another quarterly comp decline, this one attributable in part to long wait times for customers applying for credit and, as a result, lost sales.
In the third quarter ended Oct. 28, Signet recorded a 5 percent year-over-year drop in comps. Same-store sales were down across all banners with the exception of Piercing Pagoda, which recorded a 2 percent increase.
Total sales were $1.2 billion, down 2.5 percent (2.8 percent on a constant exchange rate basis) when compared with last year.
Gross margin also dropped to 27.8 percent of sales due in part to the acquisition of R2Net, the parent company of Segoma Imaging Technologies and JamesAllen.com.
Signet completed the acquisition in September.
The retailer has begun integrating the company’s technologies into its websites, including its build-a-ring platform onto Jared the Galleria of Jewelry’s website. And it saw its e-commerce sales for the quarter increase 56 percent in part due to the acquisition, but the addition of an online retailer also was a drag on margins.
On the company’s earnings call Tuesday morning, new CEO Gina Drosos described the company’s third quarter as “challenging,” citing the hurricanes--Signet has a strong footprint in both Texas and Florida--and problems with the company’s credit outsourcing processes as the contributing factors.
Signet completed the previously announced outsourcing of more than 2 million credit accounts to Alliance Data System Corp. during Q3. (The company is still looking for a buyer for the remainder of its portfolio, and Drosos said Tuesday it expects to find one in the first half of next year.)
There were technology as well as process and change issues associated with the transition that resulted in longer-than-usual wait times for customers applying for credit, which frustrated them and, in some cases, resulted in them walking away from the sale. The problems impacted bridal sales specifically, which are higher-ticket sales and, thereby, more often involve customers applying for credit.
“We’re all disappointed that this didn’t go more smoothly,” Drosos said.
Signet expects the problems with the transition of its credit portfolio to continue into the critical fourth quarter, and has downgraded its forecast. It now anticipates a mid-single-digit decline in same-store sales.
The retailer already has begun advertising its key collection for the fourth quarter, “Interwoven,” which is targeted for gifting by younger couples.
Interwoven is comprised of 36 SKUs, most of which will be priced below $1,000.
While there are TV ads for Interwoven, Signet said overall it has cut the number TV commercials it’s running in Q4 nearly in half as it shifts to more digital advertising.
Drosos said that digital will make up about 30 percent of Signet’s overall marketing spend in Q4, nearly double the 19 percent from last year.
Some of that money is being allocated to social media.
Signet launched its first social media influencer campaign in the third quarter, Drosos said, and will be extending it to 100 influencers in the fourth quarter. She said they expect them to generate 100 million impressions on social media.
The Latest

Designer Deborah Meyers created her birds from oxidized sterling silver, rose-cut diamond eyes, and Akoya Keshi pearl feathers.

The company said it expects sightholders to remain “cautious” with their purchasing due to all the unknowns around the U.S. tariffs.

Six new retail businesses were selected for the 2025 program, which began in January.

Sponsored by the Gemological Institute of America


Simon Wolf shares why the time was right to open a new office here, what he looks for in a retail partner, and why he loves U.S. consumers.

A third-generation jeweler, Ginsberg worked at his family’s store, Ginsberg Jewelers, from 1948 until his retirement in 2019.

The risk of laboratory-grown diamonds being falsely presented as natural diamonds presents a very significant danger to consumer trust.

The organization also announced its board of directors.

Charms may be tiny but with their small size comes endless layering possibilities, from bracelets to necklaces and earrings.

Located in Valenza, the now 355,000-square-foot facility includes a new jewelry school that’s open to the public, Scuola Bulgari.

Paola Sasplugas, co-founder of the Barcelona-based jewelry brand, received the Fine Jewelry Award.

A platinum Zenith-powered Daytona commissioned in the late ‘90s will headline Sotheby’s Important Watches sale in Geneva next month.

The basketball stars wear men’s jewelry from the “Curb Chain” collection.

The Signet Jewelers-owned retailer wants to encourage younger shoppers to wear fine jewelry every day, not just on special occasions.

The 21 pieces, all from a private collector, will be offered at its Magnificent Jewels auction next month.

Lilian Raji answers a question from a reader who is looking to grow her jewelry business but has a limited marketing budget.

GCAL by Sarine created the new role to sharpen the company’s focus on strategic partnerships and scalable expansion.

The Indiana jeweler has acquired Scottsdale Fine Jewelers in Scottsdale, Arizona.

“Cartier: Design, Craft, and Legacy” opened earlier this month at the Victoria and Albert Museum in London.

Van Cott Jewelers in Vestal, New York, is hosting a going-out-of-business sale.

Industry veteran Samantha Larson has held leadership roles at Borsheims, McTeigue & McClelland, Stuller, and Long’s Jewelers.
The two organizations will hold the educational event together this fall in Mississippi.

The entrepreneur and “Shark Tank” star will share his top tips for success.

The Ukrainian brand’s new pendant is modeled after a traditional paska, a pastry often baked for Easter in Eastern European cultures.

The jeweler has announced a grand reopening for its recently remodeled location in Peoria, Illinois.

The “Strong Like Mom” campaign features moms who work at Tiffany & Co. and their children.