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Coronavirus Updates: Impact on the Trade
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The Covid-19 pandemic that has swept the globe has had a notable impact on the diamond industry, with new developments unfolding every day. Here, we present a one-stop, running news feed on industry events impacted...
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Polished Markets
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Jul 05, 2020
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Rapaport News
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Signet Brings In Chief Digital Officer
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Signet Jewelers has appointed Rebecca Wooters chief digital officer to help expand its online offering in the wake of the coronavirus pandemic.“Our omni-channel and digital transformation is even more important now with today’s shift...
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Retail
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Jun 22, 2020
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Rapaport News
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Signet Loss Deepens Amid Covid-19 Closures
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Signet Jewelers’ net loss increased to $190 million in the first fiscal quarter as the company closed all its stores for most of the period.That figure compares with a loss of $10 million during the same...
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Retail
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Jun 09, 2020
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Rapaport News
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Natural Diamond Council Hires Retail VP
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Gabrielle Grazi has joined the Natural Diamond Council (NDC) as its vice president for retail following seven years at Signet Jewelers.The newly created role involves establishing the NDC as the natural-diamond authority among...
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Marketing
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Jun 08, 2020
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Rapaport News
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Jared to Hold Online Weddings
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Jared will offer free virtual weddings to 1,000 couples who had to cancel or postpone their events due to the COVID-19 pandemic.The jeweler will begin holding the ceremonies, which are part of its #LoveCantWait campaign,...
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Retail
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May 07, 2020
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Rapaport News
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Signet Revamps Rules as Some Branches Reopen
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Signet Jewelers has reopened more than 130 US stores and is planning to unlock up to 50 more doors in time for Mother’s Day as some states are allowing retailers to do business again. The company, which owns Kay Jewelers,...
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Retail
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May 07, 2020
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Leah Meirovich
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Signet Appoints Investor-Relations Exec
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Signet Jewelers has hired Vincent Sinisi as senior vice president of investor relations, replacing Randi Abada, the company said Monday.Sinisi has over 15 years of experience as a retail analyst, most recently as executive director of equity research...
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Retail
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May 04, 2020
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Rapaport News
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Signet Temporarily Lays Off Workers
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Signet Jewelers has furloughed a number of its employees to cut costs and ensure the long-term sustainability of its business.“Due to the unprecedented impact of COVID-19 and the closure of our stores, we have moved quickly to proactively reduce...
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Retail
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Apr 01, 2020
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Rapaport News
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Signet Settles Shareholder Suit for $240M
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Signet Jewelers has agreed to a $240 million settlement relating to a lawsuit filed by shareholders. The suit claims the company misled investors regarding allegations of sexual discrimination against its executives and the health of its credit...
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Retail
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Mar 31, 2020
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Rapaport News
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Strong Holiday Lifts Signet to 4Q Profit
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Signet Jewelers returned to profit in the fourth fiscal quarter and recorded growth in same-store sales, as the company’s turnaround plan appeared to be working before the coronavirus crisis hit.The retailer reported net income of $187.1 million...
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Retail
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Mar 26, 2020
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Rapaport News
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Signet to Avoid Giving Sales Guidance
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Signet Jewelers will not issue a forecast for the first quarter of its 2021 fiscal year as it weighs the effects of the coronavirus pandemic on its retail operations.“Retailers are already experiencing the severe impact…of COVID-19...
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Retail
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Mar 24, 2020
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Rapaport News
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Signet Closing All Stores in US, Canada
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Signet Jewelers is shutting all its stores in North America due to the coronavirus, a company spokesperson confirmed with Rapaport News.The temporary closure goes into effect at the close of business on Sunday, the spokesperson said. It applies...
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Retail
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Mar 22, 2020
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Joshua Freedman
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Tiffany, Macy’s Among Retailers Closing US Stores
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A growing number of US retailers, including Tiffany & Co., are temporarily shuttering all locations across North America in an effort to stem the coronavirus spread.“Effective immediately, we’re temporarily closing all Tiffany stores in the US and Canada,...
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Retail
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Mar 18, 2020
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Rapaport News
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WJA Campaign Targets Female Self-Purchasers
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The Women’s Jewelry Association (WJA) has launched a new consumer-marketing campaign aimed at empowering women to buy jewelry for themselves.March Is Me Month will coincide with International Women’s Day, which takes place on March 8, as well as Women’s...
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Retail
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Mar 03, 2020
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Rapaport News
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Signet Launches First Spanish-Language Ads
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Signet Jewelers has introduced its first foreign-language advertising campaigns in the US market, targeting the growing number of Hispanic millennials expected to marry in the coming years.“They are a big customer group, and getting a lot bigger...
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Retail
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Feb 20, 2020
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Leah Meirovich
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Israel Diamond Week Lifts Local Trade
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The International Diamond Week in Israel (IDWI) closed Wednesday with participants noting steady trading among local dealers in the absence of Chinese buyers.Delegations from China and Hong Kong were scheduled to attend the three-day...
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Marketing
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Feb 13, 2020
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Rapaport News
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Sterling Takes Gender-Bias Case to Supreme Court
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Sterling Jewelers has asked the US Supreme Court to reverse a lower-court ruling allowing an arbitrator to decide whether the company underpaid more than 70,000 women in a class action gender-bias case.The case alleges that Sterling — the...
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Financial-Legal
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Feb 03, 2020
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Rapaport News
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RJC to Certify Silver Sourcing
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The Responsible Jewellery Council (RJC) has added supply-chain certification for silver to its chain-of-custody standard.The certification, which is voluntary, allows those in the trade to offer verification that their materials are responsibly sourced. The...
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Polished Markets
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Feb 03, 2020
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Rapaport News
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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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