Kimberly Adams Russell is taking over the role from her father, David Adams, marking the third generation to hold the title.
Signet Says Two-Stone Ring a ‘Grand Slam’
Signet Jewelers Ltd. reported a 5 percent increase in same-store holiday sales, driven by bridal and fashion diamond jewelry, particularly “Ever Us.”
Akron, Ohio--Signet Jewelers Ltd. reported a 5 percent year-over-year increase in same-store sales over the holiday season, driven by bridal and fashion diamond jewelry, particularly “Ever Us.”
Ever Us is the collection of two-stone rings that Signet, parent company of Kay Jewelers, Jared the Galleria of Jewelry, Zales and Piercing Pagoda, among others, began selling in all its stores in October.
It is marketed as being the perfect gift for the individual who is both the purchaser’s best friend and true love, and was supported by a massive television advertising campaign this past Christmas. Signet worked with De Beers/Forevermark to promote it and allowed Forevermark to sell Ever Us through its retail partners.
On a Thursday morning conference call announcing the retailer’s holiday results, Signet CEO Mark Light said the collection was “nothing short of a grand slam for Signet.”
He added that some stores were unable to keep up with demand--which, interestingly, was stronger for the larger sizes--and actually ran out of rings; one Pennsylvania retailer National Jeweler interviewed during the course of the holiday season noted that he had customers come in asking for two-stone rings because they couldn’t find them at the chain stores.
“We just couldn’t keep up with it, it was doing so well,” Light said on the conference call.
Signet’s 5 percent comp increase for November and December comes on the heels of a 4 percent same-store sales increase for the same period last year.
Kay Jewelers and Piercing Pagoda posted the strongest gain at 7 percent. Comps for Zales Jewelers’ U.S. stores rose 6 percent while same-store sales for Jared were up 3 percent. The company’s U.K. division (H. Samuel and Ernest Jones) saw same-store sales increase 4 percent.
Total sales for Signet in November-December reached $1.95 billion, a 5 percent increase over the prior year. At constant exchange rates, total sales were up 6 percent.
Online sales increased 11 percent, from $126 million to $139.7 million, though they did not increase greatly as a percentage of overall sales. E-commerce sales in November-December 2015 represented 7.2 percent of total sales, as compared with 6.8 percent last year.
Signet is set to announce its full fourth quarter results March 24.
Based on its holiday results and January sales to date, the retailer increased
The Latest
As a token of womanhood, this necklace depicts when Venus was born from the sea.
The deal gives the retailer control over the distribution of Roberto Coin jewelry in the U.S., Canada, Caribbean, and Central America.
Tradeshow risks are real. Get tips to protect yourself before, during and after and gain safety and security awareness for your business.
Show your mother some love with a piece of fine jewelry.
The company’s Easton location will remain open.
Brian D. Fleming of Carla Corporation was elected to serve a one-year term in the role.
Meet Ben Claus—grand prize winner of For the Love of Jewelers 2023 Fall Design Challenge.
Sponsored by the Las Vegas Antique Jewelry and Watch Show
Tobak, author of “Ice Cold: A Hip-Hop Jewelry History,” shares how the exhibition came to be, and the pieces people may be surprised to see.
Stars adorned themselves in emeralds, platinum, and myriad bird motifs, writes Associate Editor Natalie Francisco.
M.S. Rau is set to open a seasonal gallery in the high-end resort town early next month.
The branded jewelry market is thriving, said Richemont Chairman Johann Rupert.
The six designers, all participants in the show’s Diversity Action Council mentorship program, will exhibit in Salon 634.
The highlight of his collection is the coveted Patek Philippe Grandmaster Chime, which could sell for up to $5 million.
The “Venetian Link” series modernizes the classic Veneziana box chain in its bracelets and necklaces.
The Seymour & Evelyn Holtzman Bench Scholarship will provide tuition assistance to two low-income students.
The Swiss watchmaker said the company’s plans to use a new version of the Hallmark crown on jewelry would confuse consumers.
The executive talked about the importance of self-purchasers and how fuel cell electric vehicles are going to fuel demand for platinum.
The Indian jeweler’s new store in Naperville, Illinois marks its 350th location, part of its ongoing global expansion plans.
It will award a graduating high school student with about $10,000 toward a GIA diploma and an internship with the Seattle-based jeweler.
Wheat Ridge, Colorado police took a 50-year-old man into custody Wednesday following a two-month search.
PGI partnered with four new and seven returning designers for its annual platinum capsule collection.
Nicolosi, president and CEO of The Kingswood Company, previously sat on WJA’s board from 2011 to 2018.
Karina Brez’s race-ready piece is a sophisticated nod to the horse-rider relationship.
The men are allegedly responsible for stealing millions in jewelry and other valuables in 43 burglaries in 25 towns across Massachusetts.
“Horizon” invites individuals to explore the limitless possibilities that lie ahead, said the brand.