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.
FinancialsJan 17, 2019
Signet’s Holiday Sales Fall Short
Department store discounting and a lack of interest in “legacy” lines hurt the retailer this season.
Signet’s worst performer over the holiday season in North America? Jared the Galleria of Jewelry stores, where comps dropped 8 percent. CEO Gina Drosos said department store discounting and lack of interest in “legacy” lines hurt Signet this season.
Akron, Ohio—Signet rolled out new product, new commercials, ramped up digital marketing and improved its websites, but it was not enough to counter department store discounting and declining interest in lines that were once bestsellers.
In the nine-week period ended Jan. 5, Signet Jewelers Ltd.’s same-store sales (including stores in both North America and the United Kingdom) slipped 1 percent year-over-year, with brick-and-mortar comps down 2 percent but online sales growing 6 percent to $222.3 million.
Total sales dropped 3 percent to $1.84 billion.
“Our holiday season performance fell short of our expectations,” CEO Gina Drosos said in the company’s earnings release issued Thursday morning.
Signet warned in early December that department store discounting was going to be a problem, and Drosos said Thursday that promotions “intensified” as the month wore on.
Despite Signet’s attempt to keep up by holding sales, stores were not crowded enough during the key weeks of December and there was a larger-than-expected drop in sales of lines like LeVian and Ever Us, while newer lines such as Enchanted Disney Fine Jewelry and Love + Be Loved performed well.
Drosos said: “These holiday results reinforce the need to take even faster action to improve our financial and operational performance. We will move decisively to improve profitability through aggressively optimizing our cost structure and continuing to right-size our store base, as well as more effectively managing our inventory.”
In North America, which includes mall staples Zales and Kay Jewelers as well as Jared the Galleria of Jewelry, holiday comps were down 0.7 percent.
Piercing Pagoda continued to be Signet’s top performer, with sales there jumping 17 percent. Peoples (comps up 5 percent) and Zales (comps up 3 percent) also saw sales increase.
Outside of the regional brand stores Signet is in the process of closing, Jared recorded the worst performance, with holiday comps dropping 8 percent while same-store sales at Kay and James Allen slipped 0.8 percent and 0.2 percent, respectively.
In light of its holiday performance, Signet revised its fourth quarter guidance—it now expects comps to be down as much as 3 percent—and is projecting flat same-store sales for the fiscal year.
The retailer is scheduled to report its fourth quarter and full year earnings on March 14 and will provide an update on its plans for FY 2020 then, Drosos said.
Editors' Picks
Sponsored by
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.
