TrendsMar 17, 2026
Natalie Portman Is Tiffany & Co.’s New AmbassadorThe Academy Award-winning actress stars in Tiffany & Co.’s latest commercial, which debuted Sunday night during the Oscars.
FinancialsJan 17, 2019
Signet’s Holiday Sales Fall Short
Department store discounting and a lack of interest in “legacy” lines hurt the retailer this season.
Signet’s worst performer over the holiday season in North America? Jared the Galleria of Jewelry stores, where comps dropped 8 percent. CEO Gina Drosos said department store discounting and lack of interest in “legacy” lines hurt Signet this season.
Akron, Ohio—Signet rolled out new product, new commercials, ramped up digital marketing and improved its websites, but it was not enough to counter department store discounting and declining interest in lines that were once bestsellers.
In the nine-week period ended Jan. 5, Signet Jewelers Ltd.’s same-store sales (including stores in both North America and the United Kingdom) slipped 1 percent year-over-year, with brick-and-mortar comps down 2 percent but online sales growing 6 percent to $222.3 million.
Total sales dropped 3 percent to $1.84 billion.
“Our holiday season performance fell short of our expectations,” CEO Gina Drosos said in the company’s earnings release issued Thursday morning.
Signet warned in early December that department store discounting was going to be a problem, and Drosos said Thursday that promotions “intensified” as the month wore on.
Despite Signet’s attempt to keep up by holding sales, stores were not crowded enough during the key weeks of December and there was a larger-than-expected drop in sales of lines like LeVian and Ever Us, while newer lines such as Enchanted Disney Fine Jewelry and Love + Be Loved performed well.
Drosos said: “These holiday results reinforce the need to take even faster action to improve our financial and operational performance. We will move decisively to improve profitability through aggressively optimizing our cost structure and continuing to right-size our store base, as well as more effectively managing our inventory.”
In North America, which includes mall staples Zales and Kay Jewelers as well as Jared the Galleria of Jewelry, holiday comps were down 0.7 percent.
Piercing Pagoda continued to be Signet’s top performer, with sales there jumping 17 percent. Peoples (comps up 5 percent) and Zales (comps up 3 percent) also saw sales increase.
Outside of the regional brand stores Signet is in the process of closing, Jared recorded the worst performance, with holiday comps dropping 8 percent while same-store sales at Kay and James Allen slipped 0.8 percent and 0.2 percent, respectively.
In light of its holiday performance, Signet revised its fourth quarter guidance—it now expects comps to be down as much as 3 percent—and is projecting flat same-store sales for the fiscal year.
The retailer is scheduled to report its fourth quarter and full year earnings on March 14 and will provide an update on its plans for FY 2020 then, Drosos said.
More on Financials
The Latest
SourcingMar 17, 2026
Cruzeiro Mine Debuts ‘Winter Tourmaline’The Brazilian mine’s new collection features cabochons in soft, muted shades like silver and lilac.
MajorsMar 17, 2026
Kering Establishes Jewelry Division, Appoints CEOThe organizational change follows Kering’s promise of a transformation after declining sales in 2025.
Brought to you by
Is This You? Every Jeweler Has This Problem; We Have the Solution.Every jeweler faces the same challenge: helping customers protect what they love. Here’s the solution designed for today’s jewelry business.
EditorsMar 16, 2026
2026 Oscars Jewelry: One Necklace After AnotherNatalie Francisco rounds up the top Oscars jewels, including Rose Byrne’s Taffin necklace with a more than 20-carat yellow-brown diamond.
Weekly QuizMar 12, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
WatchesMar 16, 2026
TAG Heuer Has a New CEOBéatrice Goasglas has been with TAG Heuer since 2018. She is the first woman to head the 166-year-old, LVMH-owned watch brand.
IndependentsMar 16, 2026
Ben Bridge Debuts New Honolulu BoutiqueThe store features the first in-store build for the jeweler’s in-house “Bella Ponte” bridal brand.
Brought to you by
DCA Enters a New Chapter in Jewelry EducationWith refreshed branding, a new website, updated courses, and a pathway for growth, DCA is dedicated to supporting retail staff development.
AuctionsMar 16, 2026
Bonhams Paris To Offer Antique, Signed Jewels The live fine jewelry auction will take place later this week, showcasing antique pieces, rare gemstones, and signed jewels.
CollectionsMar 13, 2026
A Trio of Jewels from the 3 Gem Award Nominees for Jewelry DesignOur Pieces of the Week honor the 2026 nominees for the Gem Award for Jewelry Design, Silvia Furmanovich, Cece Fein-Hughes, and Catherine Sarr.
WatchesMar 13, 2026
Citizen, Vera Wang to Launch Watch CollectionThe 24-piece watch collection is set to debut in spring 2027.
SourcingMar 13, 2026
Andrea Pooler Joins Third-Generation Diamond Company as COO Pooler, who has more than 25 years’ experience in jewelry, is now chief operating officer of Modani Jewels, Soham Diamonds, and SNJ Creations.
MajorsMar 13, 2026
24 Karat Club of New York’s Banquet to Return to Waldorf AstoriaThe reopening of the Waldorf Astoria means a homecoming for the industry group’s annual event, which will take place Saturday.
CollectionsMar 12, 2026
Jessica McCormack Sends Gold, Gemstones Into ‘Orbit’McCormack looked to the 19th century’s “golden age” of astronomy when designing her new celestial-themed collection.
Events & AwardsMar 12, 2026
Johnny Nelson Wins David Yurman Gem Awards GrantNelson will be honored as the inaugural grant winner at the Gem Awards gala on Friday.
TechnologyMar 12, 2026
Caratwise Launches, Names Former Signet Exec CEO The new smart design software allows jewelers to configure, price, and confirm a custom engagement ring in real time for in-store customers.
SourcingMar 12, 2026
Grandview Klein Opens New Factory in South Africa The 10,000-square-foot diamond manufacturing facility officially opened in late February and employs 50 people.
Events & AwardsMar 12, 2026
MJSA ‘Future of Jewelry Making’ Scholarship Applications OpenThe MJSA Education Foundation’s scholarships support students pursuing jewelry careers.
AuctionsMar 11, 2026
‘Spectacular’ 26-Carat Diamond Going Up for Auction in London The largest white diamond to come to market in the U.K. in more than a decade, the VVS1, I-color stone is expected to top $1 million.
TechnologyMar 11, 2026
Cast Jewelry’s Rachel Skelly on Coming Back Online Only Skelly shares her plans for reimagining the fine jewelry retailer she re-acquired after it faltered last year.
CollectionsMar 11, 2026
Pyrrha Highlights ‘The Space Between’ In New CollectionThe collection takes inspiration from the emotional space between people, moments, and experiences.
IndependentsMar 11, 2026
From the Jazz Age to the Information Age: London Jewelers Turns 100In 2026, the jewelry retailer is celebrating a milestone only a small percentage of family-owned businesses survive to see.
IndependentsMar 11, 2026
Virginia Jewelers Raise Nearly $30K for Children’s HospitalThe group of jewelers held a jewelry raffle in support of the Children’s Hospital of Richmond at VCU.
MajorsMar 10, 2026
Saks Global to Close 15 More StoresThe retailer also gave an update on its vendor partnerships.
TrendsMar 10, 2026
Messika Names Julianne Moore as AmbassadorThe award-winning actress is the “epitome of modern allure,” the brand said.
CollectionsMar 10, 2026
Gemstones ‘Bloom’ in Sorellina’s New CollectionThe “Bloom” collection draws from the flower power movement of the 1960s and ‘70s with inlay pendants offered in eight colorways.
Events & AwardsMar 10, 2026
Diamond-Studded Painting Shines at RJO Foundation AuctionThe unique piece was one of the custom works offered at the foundation's recent silent art auction, which garnered nearly $15,000 in total.
