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Signet Raises Forecast Following Strong Holiday
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Sales at Signet Jewelers increased during the holiday season, prompting the retailer to raise its full-year outlook.Same-store sales — at branches open for at least a year — increased 1.6% for the nine weeks ending January 4, while...
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Retail
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Jan 16, 2020
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Rapaport News
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Signet Takes Hit Following Wells Fargo Report
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Signet Jewelers is losing market share to competitors and faces risks from its credit operations, according to an analyst’s report that sent the retailer’s stock tumbling.Ike Boruchow, senior analyst at Wells Fargo, raised concerns that...
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Retail
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Jan 08, 2020
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Rapaport News
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Signet Expands Lab-Grown Diamond Offering
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Signet Jewelers is now offering jewelry featuring synthetic diamonds and gemstones at all of its major US banners, after asuccessful pilot in limited locations. “Lab-created diamonds are available in both fashion and bridaljewelry at James Allen, Kay,...
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Retail
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Dec 16, 2019
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Rapaport News
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Podcast: What’s in Store for the Holidays
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With the holiday season well under way, the Rapaport Diamond Podcast debates different trends taking shape in the retail space. The discussion spans personalization, omnichannel, effective storytelling, being more open-minded, and...
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Retail
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Dec 12, 2019
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Rapaport News
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Signet Raises Full-Year Outlook
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Signet Jewelers’ shares jumped 6% in early trading Thursdayafter the retailer increased its sales forecast for the current fiscal year. The jeweler adjusted its guidance following a rise insame-store sales in the third fiscal...
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Retail
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Dec 05, 2019
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Rapaport News
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Signet Increases Lab-Grown Footprint
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Signet Jewelers has takenfurther steps into the synthetics market, launching lab-grown diamonds at itsKay and Jared brands. The move has commenced witha trial in five Kay stores.In addition, Signet has started selling...
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Retail
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Oct 23, 2019
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Rapaport News
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Plumb Club Requires Members to Join RJC
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The Plumb Club has become the first trade group to requireall members to sign up to the Responsible Jewellery Council (RJC). The supplier and manufacturer group hopes that other tradeassociations will follow suit, thereby...
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Polished Markets
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Sep 22, 2019
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Rapaport News
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Signet Names New UK Managing Director
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Signet Jewelers has appointed Neil Old as managing directorof its UK operations, where he will lead the team in implementing the Path toBrilliance program. Old, who will oversee the company’s British businessesincluding H. Samuel and...
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Retail
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Sep 10, 2019
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Rapaport News
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Signet Scaling Back China Buying
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Signet Jewelers plans to reduce its purchasing of Chinesegoods by about 50%, aiming to minimize the impact of US tariffs on thebusiness. “We have been successful in working with our vendors to movea significant amount of our China exposure to other...
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Retail
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Sep 09, 2019
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Rapaport News
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Signet Adjusts Outlook as Sales Decline
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Signet Jewelers has modified its full-year sales guidance forthe second time, following a drop in revenue in the three months ending August 3.Group sales fell 3.9% to $1.36 billion in the second fiscal quarter, the...
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Retail
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Sep 05, 2019
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Rapaport News
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Tracr Aiming to Be More Than a Blockchain
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As a tech guy, Jim Duffy spends much of his time on the road explaining technical terms in a way laymen can understand. He has his work cut out for him as CEO of Tracr, De Beers’ blockchain project — especially...
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Polished Markets
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Sep 04, 2019
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Avi Krawitz
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Judge Calls Out Signet over Suit Dispute
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A New York judge has refused to back down after ruling that Signet Jewelers’ comments about the sexual-harassment claims it was facing could be part of a class-action suit against the retailer.On July 10, Judge Colleen...
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Retail
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Jul 17, 2019
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Rapaport News
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RJC Ready to Target Consumers
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The Responsible Jewellery Council (RJC) is planning a strategy to help retailers assure consumers their jewelry has been ethically sourced and that they follow the required sustainability standards. The group, whose mandate is to set...
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Polished Markets
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Jun 27, 2019
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Avi Krawitz
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Signet Revenue Drops in First Quarter
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Signet Jewelers has lowered its sales outlook for the restof the year, after revenue fell in the first fiscal quarter. Total sales declined 3.3% to $1.43 billion in the threemonths ending May 4, the...
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Retail
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Jun 06, 2019
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Rapaport News
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De Beers Opening Blockchain to Industry
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De Beers has launched an online resource for sharing information and tools that will help members of the trade join its blockchain program. The Tracr Community will provide participants with educational materials and...
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Technology
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Jun 02, 2019
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Rapaport News
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Signet Names Ex-President as Interim UK Head
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Former Signet Jewelers president Seb Hobbs will serve asinterim managing director of the company’s UK business for the next month.Hobbs, who has been with the jewelry retailer for more thaneight years, began...
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Retail
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May 29, 2019
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Rapaport News
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Synthetics: Coming to a Bourse Near You?
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The rise of lab-grown diamonds might finally be tricklingthrough to the historic heart of the trade: the diamond exchanges.It began last November, when Anoop Mehta, president ofMumbai’s Bharat Diamond Bourse (BDB), told Rapaport News...
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Polished Markets
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May 14, 2019
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Joshua Freedman
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Signet Enters Lab-Grown Market
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James Allen has launched sales of lab-grown diamonds,marking parent company Signet Jewelers’ entry into the synthetics market. The e-commerce business, which Signet acquired in 2017,now gives consumers the option of “earth-created” or “lab-created” stones...
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Retail
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May 05, 2019
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Rapaport News
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Signet Implements More Job Cuts
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Signet Jewelers is laying off an undisclosed number of employeesfrom its Ohio and Dallas locations, after it failed to find enough interest ina voluntary exit package it offered workers. The cuts are part of a cost-saving effort the...
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Retail
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Apr 22, 2019
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Rapaport News
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RJC Appoints Executive Director
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The Responsible Jewellery Council (RJC) has named IrisVan der Veken executive director, the first woman to hold the position. She replaces Andrew Bone, who left the organization in March.“[Van der Veken] is a strong,...
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Polished Markets
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Apr 10, 2019
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Rapaport News
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