Signet Jewelers reported a 2% rise in sales to $1.54 billion in its latest quarter, with same-store sales increasing by 2.5%. However, net profit declined 36% during the same period.
The company credited its new strategy, called “Growing Brand Love,” for the sales boost. The initiative involved a major restructuring of how Signet manages its leading brands. CEO J.K. Symancyk said the early results are promising.
“Our three biggest brands—Kay, Zales, and Jared—each posted sales growth from the previous quarter and improved profit margins,” Symancyk said. “This shows how our focus on key brands is beginning to pay off.”
Symancyk noted that the restructuring is mostly complete and that the strategy is gaining traction, especially in bridal and fashion jewelry. “It’s still early, but we’re already seeing growth in important parts of the business,” he added.
Over the past year, Signet has also changed how it handles synthetic diamonds, fashion jewelry, and recycled gold as part of its broader transformation.
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