- Signet completes acquisition of Zale Corp., creating jewelry Goliath in malls
- Management shake-up at Signet Jewelers; Zale CEO Killion resigns
- ‘The King Kong of Jewelry’: Signet-Zales deal creates a conundrum for retailers and malls
- Signet Jewlers closes $400 million senior notes offering
- Zales urges support for deal with Signet Jewelers
Hamilton, Bermuda -- Signet Jewelers Ltd.’s net income fell to $67.4 million for the quarter ended Aug. 3, down from $70.7 million a year earlier, impacted by the Mother’s Day calendar shift.
Total sales increased 3.1% to $880.2 million, fueled by strong sales at the company’s Kay Jewelers and Jared stores in the United States. Sales were soft at its British chains.
Same-store sales were up 3.6%. At Kay, same-store sales rose 5.8%.
Signet CEO Mike Barnes commented: “We delivered solid second quarter results as expected, driven by same-store sales increases of 3.6% overall and 4.9% in the U.S. led by Kay up 5.8% and Jared up 5.5%. All results were, as previously explained, impacted by the Mother's Day calendar shift.”