In a deal that would combine the two largest mid-tier jewelry chains in the United States, Signet Jewelers Ltd. has agreed to buy rival Zale Corp.
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.
Zale Corp. on Wednesday reported net income of $5.1 million for the third quarter, compared with a loss of $4.5 million in the year-ago period.
Signet Jewelers Ltd. reported better-than-expected fourth-quarter results, helped by sales gains at its biggest division, Kay Jewelers.
IBM announced that jewelry chain Signet Jewelers has teamed with IBM on a major e-commerce strategy and digital marketing redesign for Signet's national U.S. store chains, Kay Jewelers and Jared the Galleria of Jewelry.
Signet Jewelers Ltd. announced that it has signed a definitive agreement to acquire Ultra Stores, Inc. from Crystal Financial LLC. and its other stockholders for approximately $57 million in cash.