Lab-GrownMay 08, 2026
NDC Publicly Criticizes Pandora Over ‘Misleading’ Natural Diamond ClaimsNDC said in an open letter that Pandora’s statements about the carbon footprint of lab grown versus natural diamonds are inaccurate.
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
SourcingMay 08, 2026
Ronnie VanderLinden Takes Over as WDC President The diamantaire and industry leader succeeds Feriel Zerouki and said he will focus on being a “champion” for natural diamonds.
TrendsMay 08, 2026
Rihanna Chooses ‘Desert Diamonds’ for 2026 Met GalaShe wore our Piece of the Week, Glenn Spiro’s “Old Moghul Golconda” earrings, featuring fancy brown-yellow diamonds totaling 51.90 carats.
Brought to you by
Discover Timeless Treasures: A Showcase of Antique Jewelry & Timepieces in Las VegasGain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.
Events & AwardsMay 08, 2026
JA Announces 2026 CASE Award WinnersTwo pieces were named “Best in Show,” one from the retail category and one from the supplier category.
Weekly QuizMay 07, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
AuctionsMay 07, 2026
‘Spectacular’ Kashmir Sapphire Headlines Heritage Spring Jewelry SaleLed by the 6.59-carat sapphire, the sale garnered $9.7 million, a record total for a Heritage jewelry auction.
MajorsMay 07, 2026
Gannon & Scott Names New Regional Account ExecutiveIn his new role, sales specialist Billy Welshoff will focus on the eastern United States.
Brought to you by
Las Vegas Antique Jewelry & Watch Show: Showcasing the Most Collectible Merchandise from Across the GlobeGain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.
WatchesMay 07, 2026
Chrono24 Names New CEOJosé Gaztelu has been promoted to the role, which has been vacant since last year.
Events & AwardsMay 07, 2026
JA Accepting Applications for 2026 Scholarship ProgramIt has also opened the application period for the Seymour & Evelyn Holtzman Bench Scholarship through June 30.
SourcingMay 06, 2026
Canada’s Oldest Diamond Mine Faces Uncertain FutureThe owner of the Ekati mine, which opened in 1998, has filed for insolvency protection amid the significant decline in diamond prices.
MajorsMay 06, 2026
Saks Global Begins Layoffs, Reorganization Plans Closer to ApprovalThe retailer will cut 16 percent of its corporate workforce as part of its plan to exit bankruptcy.
AuctionsMay 06, 2026
Steve McQueen’s Heuer Monaco Watch Heads to Sotheby'sOf the many examples used in the filming of “Le Mans,” this one is believed to have spent the most time on Steve McQueen’s wrist.
EditorsMay 05, 2026
This Ohio Designer’s Jewelry Made It to the Met GalaMegan Piccione dressed Lauren Wasser in layers of diamond jewelry, making her stand out in a crowd that included celebrities like Beyoncé.
SourcingMay 05, 2026
Doug Hucker Returns to His RootsFollowing decades of association leadership, the “semi-retired” colored gemstone expert is turning his focus to gemstone education.
Events & AwardsMay 05, 2026
AMNH to Showcase Famous Jewelry, Trophies in Sports HistoryThe museum’s new exhibition will feature one of Jesse Owen’s Olympic medals, Yogi Berra’s crown, Super Bowl rings, and more.
Events & AwardsMay 05, 2026
JIS Launches Brand Exposure ProgramThe new program provides access to media exposure and editorial opportunities for exhibitors and retailers.
CollectionsMay 04, 2026
Melanie Georgacopoulos Turns Pearls Into Light for ‘Eclipse’ CollectionThe “Eclipse” jewelry collection captures the fleeting moment where light and shadow align though onyx, diamonds, and freshwater pearls.
ColumnistsMay 04, 2026
The Key Mindset for Better Trade Show BuyingBuying discipline at trade shows starts with clarity about your inventory levels, Smith writes.
CrimeMay 04, 2026
Pawn Shop Manager Shot, Killed in FloridaLazaro Rodriguez Vega was murdered inside Cash Out Gold and Silver in Fort Pierce. A 20-year-old man has been charged in the case.
IndependentsMay 04, 2026
Zadok Jewelers, Austin Parks Foundation Support Wildflower PreservationA portion of every engagement ring sold in its Austin showroom will support the care and preservation of Austin’s wildflowers and green spaces.
TechnologyMay 01, 2026
Gemist, Saban Onyx Partner on Retailer-Focused Customization OfferingTheir partnership combines Gemist’s customization technology with Saban Onyx’s U.S.-based manufacturing capabilities.
SurveysMay 01, 2026
Consumer Confidence Inches Up in April Despite Rising Gas PricesRespondents were concerned about the Middle East conflict and how it will impact their finances.
CollectionsMay 01, 2026
A ‘Hidden Garden’ Emerges in Tiffany & Co.’s 2026 Blue BookOur Piece of the Week, the “Butterfly” necklace, showcases a 7.02-carat oval diamond set between diamond, platinum, and 18-karat gold wings.
ColumnistsApr 30, 2026
Peter Smith: A Sleazy Salesman and the Case for Regret Avoidance Smith uses a comment he overheard in the grocery store to remind retailers that their job is to inspire buying behavior, not just sell.
MajorsApr 30, 2026
Claire’s New Summer Campaign Is a Sensory Wonderland for Gen Alpha“A Girl SMR at Claire’s” celebrates girlhood through the five senses with stacked jewelry, slime toys, scented accessories, and ASMR.
AuctionsApr 30, 2026
Vintage Cartier Watch Crashes Through Records, Selling for $2MBelieved to be one of three made in 1987, the Cartier London Crash was hot at the “Shapes of Cartier” sale at Sotheby’s Hong Kong.
