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FinancialsJun 12, 2020
10 Jewelry News Stories You Might Have Missed
First-quarter results, another acquisition on the rocks, Signet’s reopening steps, and more.
Signet Jewelers Ltd., the largest jeweler in North America, has reopened more than 1,000 of its 3,000-plus stores. For more on the health and safety measures the retailer has put in place, see No. 10 below.
New York—First-quarter results, a Cecil Rhodes statue row in the U.K., and insights on how Signet is reopening its 3,000-plus stores were among the top headlines on NationalJeweler.com last week.
In the last few months, we’ve been doubling our “stories you might have missed” feature from five to 10 to bring readers the best of our coverage on how the pandemic is impacting the jewelry industry.
We will keep it at 10 in order to include stories about how the civil unrest worldwide is impacting the industry.
To catch up on all the jewelry industry news related to COVID-19, visit NationalJeweler.com/Coronavirus.
1. Signet Sales Sink 40% Amid Pandemic-Induced Store Shutdowns
COVID-19 forced Signet to take a hard look at its fleet of physical stores and upgrade its online capabilities.
2. Tiffany’s U.S. Sales Fall 45% in Q1
The jeweler saw a steep decline in worldwide sales as the COVID-19 pandemic kept its stores shuttered.
3. Mall Owner Simon Wants Out of Taubman Deal
Simon Property Group is scrapping plans to buy its rival due to the effect of the coronavirus on Taubman’s malls.
4. Movado Sales Down 53% in Q1
The watch company has reopened 14 stores in North America, which are performing better than expected, said CEO Efraim Grinberg.
5. De Beers Backs Calls to Take Down Founder’s Statue in UK
Hundreds of protestors are demanding Oxford’s Oriel College remove the statue of Cecil Rhodes.
6. Jewelry Designer Yupadee Kobkul Boonsiri Dies at 51
The award-winning artist, known for her kindness, compassion and playful nature, died of the novel coronavirus.
7. Man Charged in Murder of St. Louis Jewelry Store Guard
David Dorn was shot last week while protecting his friend’s store, Lee’s Pawn & Jewelry, on a night when protests devolved into violence and looting across the city.
8. 5 Things to Know about the Paycheck Protection Program Update
Updates to PPP include more time to use the funds and a change to how much of the loan can be used for non-payroll expenses.
9. 7 Tips for Keeping Your Online Business Rolling
Retailers, designers and experts share what they’ve learned during quarantine and what jewelers should keep in mind as stores start reopening.
10. Here’s How Signet Is Reopening Its Stores
Curbside pickup with a password, social distancing in stores, masked employees and more.
More on Financials
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