SourcingSep 30, 2026
Botswana’s President, De Beers CEO Say Diamond Demand Is RecoveringPresident Duma Boko spoke at back-to-back events in the city last week, touting Botswana’s stability and the diamond “bounceback.”
FinancialsAug 18, 2016
Sterling introduces new outlet concept, Jared Vault
Sterling Jewelers is converting some of the Ultra Diamond outlets it purchased in 2012 into Jared Vault stores, a chain of outlet stores that sell overstock from Jared the Galleria of Jewelry.
Akron, Ohio--Sterling Jewelers is converting some of the Ultra Diamond outlets it purchased in 2012 into Jared Vault stores, a chain of outlet stores that sell overstock from Jared the Galleria of Jewelry.
During a conference call held Thursday morning, company executives said they opened 18 Jared Vault stores in the first quarter, and expect to convert another 13 in the second quarter for a total of 31, essentially completing the transition of all Ultra stores into either Kay Outlet or Jared Vault stores.
While a company spokesman declined to provide a specific listing of the locations of the 31 Jared Vault stores, he did confirm they are located throughout the South, with some in the Northeast and a few in the West and Midwest.
“We are really excited by what we have seen in Jared Vaults,” Mike Barnes, CEO of Signet Jewelers Ltd., Sterling’s parent company, said during the call. “I don’t want to get too far in front of it but it was really dramatic the change we saw when we changed the nameplates.
“Vault gives it the feeling you are getting something valuable and not just discounted merchandise.”
Signet made the announcement Thursday morning during its first quarter earnings call with investors and analysts.
Sales were strong for the retailer in the first part of the year, and company executives said they continued to be strong in May, especially for Mother’s Day.
Signet’s U.S. division, comprised of Kay Jewelers, Jared the Galleria of Jewelry and a number of regional brands, posted a 3 percent year-over-year increase in same-store sales. Kay Jewelers turned in the strongest performance, with comps up 4 percent as compared with a 2 percent increase for Jared. An increase in the number of transactions at both drove the same-store sales increase.
Total U.S. sales rose 5 percent to $903.5 million. Fashion diamond jewelry, bridal and watches were the company’s best-sellers in the first quarter.
E-commerce sales rose 21 percent to $30.9 million, and more than 40 percent of visitors to the company’s e-commerce websites came from mobile devices.
Including Signet’s U.K. division, first quarter same-store sales were up 3 percent year-over-year, with the U.K. division posting
Editors' Picks
Sponsored by
a 4 percent increase in same-store sales. Total sales for the company rose 6 percent, from $993.6 million to $1.06 billion.
The Zale shareholder vote on the Signet merger is set for May 29.
Editor's note: This story was updated after publication on May 22 to add a comment from Signet Jewelers Ltd. on the location of its Jared Vault stores.
Operating income was $150.7 million, compared with $142.8 million a year ago.
“We remain pleased with our performance also for the first several weeks of May, including Mother’s Day,” Barnes said, adding that the retailer’s second quarter sales performance has been better than expected to date.
Also on Thursday, Signet released a statement reiterating its commitment to the $21-per-share price it is offering to buy rival Zale Corp., a price that has come under fire from certain groups of investors who say it is too low and are encouraging Zale’s shareholders to vote against the acquisition.
Signet urged Zale shareholders to vote for the merger. The company also said in the event the transaction doesn’t go through it remains “acutely focused on its own business.”The Zale shareholder vote on the Signet merger is set for May 29.
Editor's note: This story was updated after publication on May 22 to add a comment from Signet Jewelers Ltd. on the location of its Jared Vault stores.
More on Financials
The Latest
CollectionsSep 30, 2026
Oscar Heyman’s Holiday Book Is ‘A Living Archive’ The catalog showcases 112 new, one-of-a-kind pieces amid highlights from the jeweler’s historic archive.
SourcingSep 30, 2026
Gemfields Posts $98.5M Loss, Writes Down Value of Ruby MineIts Montepuez Ruby Mining operation in Mozambique, which is not yielding enough high-quality rubies, has taken a $125 million hit.
Brought to you by
Meet Gemology’s Next Generation Microscope: GIA® Gemolite® NXT Professional EditionExperience gemstones with greater precision and comfort than ever before.
SurveysSep 30, 2026
Consumer Confidence Falls to 12-Year Low in SeptemberThose surveyed were worried about the present and the future, with write-in responses mentioning high oil and gas prices.
Weekly QuizSep 25, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Events & AwardsSep 30, 2026
Jewelers of America, JA New York to Host Networking EventThe event will take place on the evening of Oct. 26 in New York City.
IndependentsSep 29, 2026
Christy Bromberg, Longtime Gift Buyer for Underwood Jewelers, Dies at 68She is remembered for her joie de vivre, upbeat personality, genuine interest in other people, and love of the Alabama Crimson Tide.
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.
AuctionsSep 29, 2026
Dionne Warwick’s Jewelry Goes Up for AuctionOnline bidding is open now for Julien’s sale of items owned by the “Walk On By” singer, whose final album comes out this fall.
Events & AwardsSep 29, 2026
Matt Stuller to Receive 2027 Gem Award for Lifetime AchievementThe founder and executive chairman of Stuller Inc. is being honored for his impact on the jewelry industry at the 25th annual Gem Awards.
ColumnistsSep 29, 2026
Your Holiday Marketing Has a Bridal Blind SpotDecember is the most popular month to propose, and jewelers need to keep that in mind when planning their holiday marketing.
AuctionsSep 29, 2026
If You Love Cats, This Jewelry Auction Is for YouCat ladies of the jewelry world, unite. Sandy Lerner’s collection of cat jewelry and other objects is going up for auction Wednesday.
CollectionsSep 28, 2026
De Beers London Drops Water-Inspired High Jewelry Collection“Vibrations” features several firsts for De Beers’ high jewelry, including the use of chalcedony and diamonds sourced from artisanal miners.
CollectionsSep 28, 2026
Jessica McCormack Turns to Classic Motif for New CollectionThe “Bows” collection features three interpretations of the bow motif designed with Georgian and Victorian influences.
Events & AwardsSep 28, 2026
Guy Borenstein, Troy Underwood Among the Professionals Honored at AGS Conclave 2026The American Gem Society recognized industry members, one Guild, and a law enforcement official for their contributions to jewelry.
WatchesSep 25, 2026
Smaller Rolex Watches Showing Strength on Secondary Market, Data ShowsFive of the 10 fastest-appreciating Rolex models on Bob’s Watches were Datejust 31 or Lady Datejust watches.
MajorsSep 25, 2026
Sherwood Family Buys Back Daniel’s Jewelers from Private EquityThe Sherwood family and AJS Creations CEO Tejas Shah purchased the jewelry chain back from Palladium Equity Partners.
Lab-GrownSep 25, 2026
Brilliant Earth Collabs with Elizabeth Taylor Estate on Jewelry Collection“The Elizabeth Taylor Collection” uses lab-grown diamonds and gemstones in contemporary designs inspired by the icon.
TrendsSep 25, 2026
A Peek at Taylor Swift’s Game-Day DiamondsThe artist wore Dana Rebecca Designs’ marquise diamond-set gold hoops at the Chiefs game last Sunday. Now they’re our Piece of the Week.
CrimeSep 24, 2026
From Conclave: Security Measures Jewelers Should Be TakingJSA and Jewelers Mutual shared advice on spotting suspicious behavior, combatting cell phone jammers, and staying safe at home.
AuctionsSep 24, 2026
8-Carat Blue Diamond Heads to UK Jewelry AuctionThe fancy light blue diamond is estimated to fetch up to $2.6 million at Elmwood’s next week.
TrendsSep 24, 2026
This New Jewelry Book Decodes the Secret Meaning in Victorian Jewelry“Secret Language of Victorian Jewelry” unveils the meaning behind the symbols, motifs, and gemstones used in Victorian-era jewelry.
Lab-GrownSep 24, 2026
Kira Jewels Opens B2B E-Commerce Portal for Lab-Grown Diamond Jewelry KIRAJewels.one gives retailers access to more than 500 SKUs of lab-grown diamond rings, earrings, necklaces, and bracelets.
TrendsSep 23, 2026
Holiday Diamond Jewelry Trends: Layered Looks, PersonalizationThis holiday season, look to pieces that will help to fill out customers’ everyday diamond jewelry wardrobe, experts say.
SourcingSep 23, 2026
Organization That Promotes Natural Diamond Rebrands for Third Time The Natural Diamond Council is now The Diamond Collective and has announced a new strategy under CEO Amber Pepper.
IndependentsSep 23, 2026
This Milwaukee-Area Jeweler Is Serving the 7CsPaul’s Jewelers sells coffee, chocolate, and cookies from a custom gold-wrapped trailer parked outside the store starting at 7 a.m.
