Signet Jewelers owns Kay Jewelers, Zales, Jared, and James Allen, among others, as the world’s largest retailer of diamond jewellery. The company reported a 2 per cent decline in sales for the 10 weeks concluding 11 January.
Chief financial and operating officer Joan Hilson said that while engagement sales were positive, the fashion jewellery category underperformed. CEO J.K. Symancyk stepped into the position following the retirement of Virginia C. Drosos in November.
“While there were positives in the underlying business performance during the holiday, I believe we have the opportunity to reshape our customer-facing strategies in the areas of marketing, product design, and assortment innovation,” he said.
“We can build on our industry-leading position in bridal while dramatically accelerating our reach into the larger fashion categories of self-purchase and gifting to drive sustainable organic growth.”
Total sales are expected to be between $USD2.32 ($AUD3.75 billion) and $USD2.34 ($AUD3.78 billion) billion, compared with the $USD2.38 ($AUD3.85 billion) to $USD2.46 billion ($AUD3.97 billion) initially projected.
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