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Signet Jewelers fires back on ‘diamond swapping’ controversy
Signet Jewelers Ltd., whose store banners include Kay Jewelers and Zales, issued a strong rebuttal against charges that its stores swapped customers’ gems for lesser-quality stones while they were in for service. The controversy started with an article by BuzzFeed about a Maryland woman who said her engagement ring — purchased at a Kay Jewelers store — had its diamond swapped out for a lower-quality manmade stone while in for service. The story quickly went viral on social media. -
A sparkly fourth quarter for Signet Jewelers
Signet Jewelers attracted large numbers of Christmas shoppers over the fourth quarter as the parent company of Zales, Kay and Jared posted a jump in same-store sales.
The world's largest retailer of diamond jewelry reported that for the period ended Jan. 30, same-store sales increased 4.9%. Diluted earnings per share grew over 20%. Adjusted EPS increased over 18% and ahead of the guided range.

