CrimeAug 25, 2026
Florida Woman Scammed Out of $1.5M in Jewelry, Precious MetalsTwo suspects have been arrested in connection with the complex phone scam.
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.
Editors' Picks
Sponsored by
More on Financials
The Latest
ColumnistsAug 25, 2026
Proof Before Purchase: The Gen Z Way to BuyIn her first column for National Jeweler, Jennifer Shaheen asks jewelers if they know how to connect with the next generation of consumers.
Events & AwardsAug 25, 2026
SSEF Opens 2026 Applications for Gemology Education ScholarshipsThe annual awards cover tuition for an on-site educational course at the Swiss lab, as well as flights and lodging.
Brought to you by
Your Piece Could Be the One Editors Talk AboutSubmit your pieces for a chance to win in this year's competition.
TrendsAug 25, 2026
Brent Neale Celebrates Blackberry Farm’s Anniversary With JewelryThe jeweler partnered with the Tennessee resort to honor its 50th anniversary with limited-edition blackberry pendants and earrings.
Weekly QuizAug 20, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
EditorsAug 24, 2026
Q&A: Reeds Jewelers VP Genna Zimmer on 80 Years in BusinessThe third-generation jeweler shared how the North Carolina retailer is celebrating this milestone and the love story that started it all.
Events & AwardsAug 24, 2026
Rio Grande, MetalWerx Host Argentium Silver WorkshopThe class, led by renowned metalsmith Cynthia Eid, highlighted Argentium silver as an alternative to gold amid high prices.
Brought to you by
Why More Jewelry Retailers Are Hosting Turnkey Estate Buying EventsRetailers are seeking new ways to attract customers, increase traffic, and create revenue – Estate buying events are a popular solution.
Events & AwardsAug 24, 2026
JIS Miami Opens Fall 2026 RegistrationThe show is slated for Oct. 16-19 at the Miami Beach Convention Center.
CollectionsAug 24, 2026
Francesca Villa Honors Napoleon, His Empresses In New CapsuleThe “Empresses” capsule uses 19th-century medals depicting Napoleon, Joséphine, and Marie-Louise across five one-of-a-kind pieces.
SurveysAug 21, 2026
These Are 2026’s Hottest Retailers, Says NRFThe retailers at the top of the list offer affordable products and fun, discovery-fueled experiences.
WatchesAug 21, 2026
Bremont Names Former Vacheron Constantin Exec CMODaniel Bing was formerly the marketing director for the Americas at Vacheron Constantin.
CollectionsAug 21, 2026
Bijules, Kamyen Serve Up ‘Topspin’ Tennis Bracelet Ahead of US OpenIn our Piece of the Week, the designers reimagine the tennis bracelet with green enamel wrapped around a strand of “Desert Diamonds.”
PodcastsAug 20, 2026
Episode 8: Diamond Industry Update With David Bonaparte & Ronnie VanderLindenThe industry veterans join the podcast to discuss diamond marketing, the FTC Jewelry Guides, and lobbying for lower tariffs.
TechnologyAug 20, 2026
A New AI-Powered Gemstone Identification App Is HereFounder Vik Westermann said the app is a “starting point” to inspire people to work with appraisers and gem labs, not replace them.
AuctionsAug 20, 2026
Storied Unicorn Brooch Up for Auction Gallops to New Home The Verdura brooch, which belonged to the late Virginia Fortune Ryan Ogilvy, was sold to a private collector in Asia.
Events & AwardsAug 20, 2026
MJSA Education Foundation Names 5 Scholarship WinnersThe five students were awarded a total of $10,000 through the nonprofit’s 2026 “Future of Jewelry Making” scholarship.
MajorsAug 20, 2026
Plumb Club Elects 2026-2027 BoardSteven Lerche is now beginning his term as the youngest member to become president of The Plumb Club’s elected executive committee.
MajorsAug 19, 2026
Mike Alexander To Succeed Scott Murphy as Jewelers Mutual CEO Murphy will retire at the end of the year and Alexander, currently the company’s president, will take over at the start of 2027.
Policies & IssuesAug 19, 2026
Spinelli Kilcollin Embraces Dupes With Trade-In ProgramThe jeweler is encouraging customers who own lookalike rings to come into the store and trade them for credit towards an authentic piece.
MajorsAug 19, 2026
Zales Wants You to Wear Fine Jewelry Every DayThe new campaign, “You Are The Occasion,” discourages shoppers from saving their fine jewelry for special occasions only.
SourcingAug 19, 2026
Vasant Mehta, a Dedicated Diamond Industry Leader, Dies at 81Mehta led India’s GJEPC through the 2008 financial crisis and was respected worldwide for his wisdom, integrity, and knowledge.
CrimeAug 18, 2026
2 California Men Arrested in Fatal Vehicle Smash RobberyOne is the driver who allegedly crashed a car into a Sacramento jewelry store in April, striking a 71-year-old employee who later died.
ColumnistsAug 18, 2026
Peter Smith: The IKEA Effect and Bridal Branding In a new column, Peter Smith posits that people actually enjoy putting together IKEA furniture, and the same is true for engagement rings.
CrimeAug 18, 2026
Thieves Snatch $1M in Jewelry From New Jersey Jeweler9lakha Jewelers in Iselin, New Jersey, was the target of a smash-and-grab robbery on Aug. 8.
Lab-GrownAug 18, 2026
Ring Concierge, Kendall Jenner’s Tequila Brand Collab on GiveawayThe jeweler has partnered with 818 Tequila to gift lab-grown diamond studs to a bride-to-be and their bridal party.
Events & AwardsAug 17, 2026
Exhibition on Louis Comfort Tiffany’s Studios to Open at The MetThe exhibition will feature more than 100 drawings of stained-glass lampshades, windows, and more, many created by women and émigrés.
