WatchesMar 26, 2026
Q&A: Citizen Watch America President Jeffrey Cohen on Eco-Drive’s 50th AnniversaryCohen discusses the evolution of Citizen’s light-powered technology, the brand’s cross-generational appeal, and tariffs.
FinancialsJun 15, 2020
Signet’s SEC Filing Lays Bare Its COVID-19 Concerns
The retailer is worried about customers’ willingness to visit stores and what a second wave of the virus would mean for business.
As part of Signet’s reopening plans, employees are wearing masks and gloves and regularly cleaning stores. In a recent SEC filing, the retailer listed consumers’ health and safety concerns regarding in-store shopping as one of the risk factors that could impact business. (Photo courtesy of Signet Jewelers)
Akron, Ohio—Signet Jewelers Ltd. said it needs more time to submit its latest Form 10-Q to the U.S. Securities and Exchange Commission as it assesses the impact of the coronavirus pandemic.
In a filing made last week, the retailer said an extension is necessary because it has “experienced significant disruptions due to the unprecedented conditions surrounding the COVID-19 pandemic.”
In its first quarter, which ended May 2, Signet reported a 39 percent year-over-year decline in same-store sales, while total sales dropped 40 percent.
The retailer closed all its stores in late March due to the pandemic, and furloughed most of its store and support center employees while slashing executive salaries.
Signet released interim financial results June 9, but the company said it will need to further evaluate the impact before submitting its finalized report.
“The full extent of COVID-19 on the company’s operations, financial performance, and liquidity, depends on future developments that are uncertain and unpredictable,” it said.
The retailer is updating its “Risk Factors” section for the SEC to include “public health crises or disease outbreaks, epidemics or pandemics” as a threat to its business, jeopardizing finances, debt levels, ability to raise capital, lease obligations, and more.
While its ecommerce business performed well in its first quarter, the company noted the “shutdown of the New York diamond operations”—meaning the forced closure of its James Allen distribution center in New York City—took a toll on online sales.
Signet said it’s possible the ecommerce business will be impacted by a number of factors, including the COVID-19 pandemic, economic downturn, and additional state and federal mandates to close retail stores.
Its global supply chain overall was interrupted, said Signet, and could be further interrupted, increasing the costs of production and distribution.
RELATED CONTENT: Here’s How Signet Is Reopening Its StoresThough Signet has begun reopening stores in select locations, it temporarily closed a small percentage of its stores “in connection with the widespread protests across the country and out of concern for the well-being of its customers and employees.”
Signet noted in its risk factors that even after stores are reopened, there is “significant uncertainty” around customers’ willingness to visit.
Though the retailer has implemented safety procedures at its reopened stores, it can’t say for sure how effective they will be and how any virus-related illness linked, or said to be linked to, its stores could harm its reputation and balance sheet.
Signet also noted the impact of the
pandemic on its employees. Employees who are sick, quarantined, or otherwise kept from work and travel could have “adverse impacts” on the company.
Signet is expected to file its final 10-Q no more than 45 days from the initial due date of June 11.
Signet is expected to file its final 10-Q no more than 45 days from the initial due date of June 11.
More on Financials
The Latest
IndependentsMar 26, 2026
Peter Smith Pens Book on Human Behavior in Sales“Essentially Human: On Sales and Salespeople" reveals the underlying human traits and behaviors of the most successful sales professionals.
CollectionsMar 26, 2026
Lionheart Celebrates 13 Years of ‘Cassandane’The collection features symbols of love, luck, and light, based on the story of Queen Cassandane and Cyrus the Great of Persia.
Brought to you by
Protect Your Customers and Your BusinessYou deserve to know what you are selling–to protect your customers as well as your business and your reputation.
Events & AwardsMar 26, 2026
NAJA, Instappraise Introduce New ScholarshipIt’s the third scholarship to be launched as part of the partnership to help appraisers advance their professional credentials.
Weekly QuizMar 26, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Events & AwardsMar 26, 2026
JA Still Accepting Entries for 2026 CASE AwardsThe deadline for entries in the jewelry design competition has been extended to April 3.
SourcingMar 25, 2026
Rob Bates Steps Down as JCK News Director After 28 years with JCK, the veteran industry journalist is launching his own publication on Substack called The Jewelry Wire.
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.
GradingMar 25, 2026
New York’s Natural History Museum, Wiley To Build Minerals DatabaseWiley said the project will give scientists worldwide access to the American Museum of Natural’s History renowned mineral collection.
CollectionsMar 25, 2026
Boochier Turns Flower Friendship Bracelets Into Fine JewelryThe “Flower Puff” collection looks to beaded flower friendship bracelets from childhood, turning the silhouette into nostalgic fine jewelry.
Policies & IssuesMar 25, 2026
Community for Ethical Jewelry to Host Bench Jeweler Shortage WebinarSet for April 2, the webinar will discuss how the jewelry industry can address the workforce gap.
IndependentsMar 24, 2026
Lisa Bayer, Illustrator and Beloved Member of the Muse Family, Dies at 64Bayer, founder of Lisa Bayer Designs, is remembered as “a bright light in every room.”
AuctionsMar 24, 2026
White Diamonds Shine In Christie's Jewels Online SaleThe highest-grossing lot was a Tiffany & Co. ring set with a flawless, emerald-cut diamond of 10 carats.
SourcingMar 24, 2026
AGTA Solidifies Tucson Dates For 2027-2029The next three editions of AGTA GemFair Tucson will feature a five-day show that includes Sunday.
WatchesMar 24, 2026
Christie’s Names New Senior Specialist, WatchesFormer Sotheby’s executive Tom Heap has taken on the London-based role.
CrimeMar 23, 2026
NYPD Looking for 3 Jewelry Store Robbery SuspectsThe group of women allegedly robbed two Catbird stores and one Gorjana location on the afternoon of March 9.
TrendsMar 23, 2026
Marco Bicego’s New Campaign Showcases ‘The Art of Craft’After celebrating 25 years in 2025, the campaign marks a new chapter for the jewelry brand with the message that “Identity Creates Value.”
Events & AwardsMar 23, 2026
These Watch Brands Are Heading to Couture This YearCouture and Time to Watches announced the watch brands, from big names to independents, attendees will see at the show.
AuctionsMar 20, 2026
Sotheby's, De Beers Unveil ‘Jwaneng 28.88’ DiamondThe flawless, Type IIa stone is estimated to achieve up to $2.8 million at the auction house’s high jewelry sale in April.
TrendsMar 20, 2026
‘Frankenstein’ Costume Designer Is Bejeweled In Brooches for Oscars WinCostume designer Kate Hawley wore three archival Tiffany & Co. brooches, our Pieces of the Week, while accepting her first Oscar.
FinancialsMar 19, 2026
Signet Jewelers to Close 100 Stores, Shutter James Allen BannerThe jewelry retailer announced changes to its store network and brand portfolio during its fourth-quarter earnings call.
SurveysMar 19, 2026
NRF Forecasts 4% Retail Sales Growth in 2026From a weaker labor market to inflation, NRF Chief Economist Mark Mathews gave insight on what retailers can expect this year.
AuctionsMar 19, 2026
26-Carat Diamond Tops $1M at AuctionThe historic stone, which sold at Elmwood’s in London, is the largest white diamond to be offered on the U.K. market in more than a decade.
Events & AwardsMar 19, 2026
JCK Rocks To Ride With NellyThree-time Grammy award-winning artist Nelly is set to perform at the annual event at Tao Beach in Las Vegas on May 31.
AuctionsMar 18, 2026
Collection of the ‘Severely Beautiful’ Lady Wardington Fetches $161KThe model and fashion editor’s gold evening bags were the top lots at the London sale, going for more than $25,000 each.
PodcastsMar 18, 2026
Episode 3: An Interview With Jewelry Designer Johnny NelsonFresh off winning the David Yurman Gem Awards Grant, Nelson discusses the ring that launched his career and his plans for the future.
SourcingMar 18, 2026
Lucara Recovers Nearly 37-Carat Blue DiamondThe “stunning” Type IIb stone was found via x-ray technology at its Karowe mine in Botswana.
