Paola Sasplugas, co-founder of the Barcelona-based jewelry brand, received the Fine Jewelry Award.
Signet Temporarily Closes All North American Stores
The retailer’s employees will be paid through April 4, but may soon face reduced hours and pay as the coronavirus weighs on the company’s balance sheet.

Akron, Ohio—Signet Jewelers Ltd. announced the temporary closures of all of its stores in North America in a statement Monday morning.
The retailer operates about 2,800 stores in North America under the Kay Jewelers, Zales, Jared, James Allen, Peoples and Piercing Pagoda banners, as well as its support centers.
The brands’ online channels will remain open following a recent investment in the e-commerce platform to enhance the shopping experience, Signet said.
Employees will continue to receive benefits and pay—a combination of base pay and available paid time off—through April 4, at which time the company said it will “further assess the situation.”
Upcoming changes for employees will include reduced work hours, furloughs, and reduced compensation across its stores and support center, CEO Virginia Drosos said in the company statement.
The changes also will apply to its executives and board of directors.
When the company will reopen its stores will depend on the guidelines set by government and health officials.
“Retailers are already experiencing the severe impact of the impact of COVID-19 on the global economy, and we are anticipating continued reduction in consumer spend,” Drosos said.
The company will also be prioritizing its investments and reducing its operating expenses and capital expenditures, meaning the funds that go toward physical properties, equipment and technology.
Looking to strengthen its cash position, Signet accessed $900 million from its senior secured asset-based revolving credit facility.
At the time Signet accessed the funds on March 19, it had more than $1.2 billion in cash and an additional $292 million available on this asset-based revolving credit facility.
Signet will announce its fourth-quarter and full-year 2020 results this coming Thursday, March 26, as scheduled.
The company said it will provide an update on first-quarter sales trends to date, but will not provide financial guidance for the first-quarter or full-year 2021.
The Latest

A platinum Zenith-powered Daytona commissioned in the late ‘90s will headline Sotheby’s Important Watches sale in Geneva next month.

The Signet Jewelers-owned retailer wants to encourage younger shoppers to wear fine jewelry every day, not just on special occasions.

The risk of laboratory-grown diamonds being falsely presented as natural diamonds presents a very significant danger to consumer trust.

The 21 pieces, all from a private collector, will be offered at its Magnificent Jewels auction next month.


Lilian Raji answers a question from a reader who is looking to grow her jewelry business but has a limited marketing budget.

GCAL by Sarine created the new role to sharpen the company’s focus on strategic partnerships and scalable expansion.

The Indiana jeweler has acquired Scottsdale Fine Jewelers in Scottsdale, Arizona.

“Cartier: Design, Craft, and Legacy” opened earlier this month at the Victoria and Albert Museum in London.

Van Cott Jewelers in Vestal, New York, is hosting a going-out-of-business sale.

Industry veteran Samantha Larson has held leadership roles at Borsheims, McTeigue & McClelland, Stuller, and Long’s Jewelers.
The two organizations will hold the educational event together this fall in Mississippi.

The entrepreneur and “Shark Tank” star will share his top tips for success.

The Ukrainian brand’s new pendant is modeled after a traditional paska, a pastry often baked for Easter in Eastern European cultures.

The jeweler has announced a grand reopening for its recently remodeled location in Peoria, Illinois.

The “Strong Like Mom” campaign features moms who work at Tiffany & Co. and their children.

Interior designer Athena Calderone looked to decor from the 1920s and 1930s when crafting her first fine jewelry collection.

During a call about its full-year results, CEO Efraim Grinberg discussed how the company is approaching the uncertainty surrounding tariffs.

The free program provides educational content for jewelry salespeople and enthusiasts to learn or refresh their diamond knowledge.

The feedback will be used to prepare other jewelers for the challenges ahead, the organization said.

The online sessions are designed to teach jewelers to use AI tools like ChatGPT and Claude to grow their business.

The opening marks the jewelry retailer’s first location in the Midwest.

The “United in Love” collection offers tangible mementos of hearts entwined with traditional and non-traditional commitment heirlooms.

Robert Goodman Jewelers will hold a “Black Jewelry Designers and Makers” event on April 27.

The announcements follow a tumultuous start to 2025 for WJA, which saw a wave of resignations following controversial statements about DEI.

Editor-in-Chief Michelle Graff answers questions about how the new taxes levied on countries like India and China will impact the industry.