Who is the parent company of Jared and Kay Jewelers, what are the latest sales figures?”
After one of the worst years for U.S. retail jewelry in a generation, the industry is watchful, wondering what Christmas will bring. At a time when double-digit sales declines are the norm, which players are poised to gain market share while others wither? To find out, RDR examined recent sales figures for publicly traded U.S. jewelry retailers across the spectrum: specialty chains, luxury jewelers, department stores and big-box discounters. To understand what’s happening at retail, you must first understand how fundamentally the market has changed. By the end of 2008, the world’s population of high-net-worth individuals (HNWIs) — those having investable assets of $1 million or more, excluding primary residence, collectibles, consumables and consumer durables — dropped to 8.6 million, a 14.9 percent drop from 2007, according to the 2009 World Wealth Report by Capgemini and Merrill Lynch Wealth Management. Furthermore, HNWIs’ wealth plummeted 19.5 percent to $32.8 trillion. “The decline
Sterling Jewelers Inc., Akron, Ohio. subsidiary of Signet Jewelers, Ltd., incorporated in Bermuda. According to the second-quarter earnings report released September 2009, same-store sales at Signet’s U.S. stores fell 5.5 percent in the quarter and total U.S. sales declined by 4 percent to $552.5 million from $575.6 million. Sales for the half year were down by 2.4 percent, to $1.18 billion from $1.21 billion. http://www.diamonds.net/news/NewsItem.aspx?ArticleID=28489 Signet Jewelers Signet Jewelers, Ltd., incorporated in Bermuda, refers to itself as the world’s largest specialty retail jeweler. As of August 2009, Signet operated 1,952 stores in the U.S. and the U.K. Sterling Jewelers, Signet’s U.S. affiliate and a wholly owned subsidiary, operates Kay Jewelers, Jared the Galleria of Jewelry and a variety of stores under a number of regional names in the U.S. In the U.K., Signet’s division includes
Signet Jewelers Ltd., the parent of Kay Jewelers and Jared chains, said Thursday its sales at stores open more than a year declined 1.9 percent for the 13 weeks ended Oct. 1. Total sales declined 2.5 percent to $613.6 million as demand for jewelry remained soft during the recession. The company said sales at stores open more than a year declined 2.4 percent in the U.S. and declined 0.2 percent in the U.K. For the 39 weeks ended Oct. 1, sales at stores open more than a year declined 3.4 percent.
