Content about Signet

August 28, 2014

Sixty-five days of performance from its new Zale division cut net income at Signet Jewelers Ltd. but boosted sales at Signet Jewelers Ltd. in the second quarter of fiscal 2015.

Hamilton, Bermuda – Sixty-five days of performance from its new Zale division cut net income at Signet Jewelers Ltd. but boosted sales at Signet Jewelers Ltd. in the second quarter of fiscal 2015. Expenses related to the Zale acquisition helped reduced net income 13% to $58 million, from $67.4 million a year earlier.

July 1, 2014

Signet Jewelers Ltd. on Tuesday announced that Theo Killion, CEO and president of its newly acquired Zale division, has resigned, effective July 31.

Hamilton, Bermuda -- Signet Jewelers Ltd. on Tuesday announced that Theo Killion, CEO and president of its newly acquired Zale division, has resigned, effective July 31.

Killion had been tapped to lead Zale as a separate division within the company, Signet said when the deal closed in late May. George Murray, Signet's current chief integration management officer, has been promoted to president of the Zale division and will succeed Killion upon his departure.

May 29, 2014

It’s official: Signet Jewelers Ltd. has completed its acquisition of Zale Corporation for $21 per share in cash and a total consideration of $1.46 billion.

Hamilton, Bermuda -- It’s official: Signet Jewelers Ltd. has completed its acquisition of Zale Corporation for $21 per share in cash and a total consideration of $1.46 billion. Zale shareholders approved the acquisition by its longtime rival on May 29.

With the deal completed, Signet now operates over 3,600 locations under the retail banners of Kay, Jared, and Zales in the United States; H.Samuel and Ernest Jones in the United Kingdom; and People's in Canada. Signet also now operates kiosks in the United States under the Piercing Pagoda banner.

May 19, 2014

Signet Jewelers Ltd. has closed the offering of $400 million senior unsecured notes due 2024 by Signet U.K. Finance PLC (a wholly owned indirect subsidiary of Signet).

Hamilton, Bermuda - Signet Jewelers Ltd. has closed the offering of $400 million senior unsecured notes due 2024 by Signet U.K. Finance PLC (a wholly owned indirect subsidiary of Signet). The notes will bear interest at a rate of 4.7% per year and mature on June 15, 2024.

May 16, 2014

A previously undisclosed conflict of interest may endanger the proposed $1.4 billion purchase of jewelry retailer Zale Corp. by rival Signet Jewelers.

Dallas – A previously undisclosed conflict of interest may endanger the proposed $1.4 billion purchase of jewelry retailer Zale Corp. by rival Signet Jewelers. According to the New York Times, Bank of America, which represented Zale in talks with Signet, failed to disclose it had made an unsolicited presentation to Signet in October 2013 where it advised Signet to consider purchasing Zale.

May 15, 2014

Zale Corp. on Thursday restated its support for Signet Jewelers Ltd.'s $1 billion acquisition offer, urging shareholders to support the deal despite opposition from a large investor.

Dallas -- Zale Corp. on Thursday restated its support for Signet Jewelers Ltd.'s $1 billion acquisition offer, urging shareholders to support the deal despite opposition from a large investor. The deal, under which Zale stockholders would receive $21.00 per share in cash, has been unanimously approved by the Zale board of directors.

Zale’s investor TIG Advisors LLC has called the deal "grossly unfair," saying the jewelry retailers should be able to get $28.60 a share in cash and stock.  

April 15, 2014

Signet Jewelers’ $1.4 billion deal to acquire 90-year-old jewelry mainstay Zales made big headlines back in February. But reporters, analysts and investors were not the only ones paying attention to the pending purchase — as soon as they heard the news, mall managers and mall-based jewelers knew the King Kong of retail jewelry had just been born.

By Michael Lebowitz, director of jewelry, White Pine Jewelry Solutions

April 7, 2014

Signet Jewelers Limited and Zale Corporation have announced the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, in connection with the proposed acquisition of Zale by Signet.

Hamilton, Bermuda -- Signet Jewelers Limited and Zale Corporation have announced the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, in connection with the proposed acquisition of Zale by Signet.

The expiration of the HSR Act waiting period satisfies one of the conditions to the closing of the proposed acquisition, which remains subject to approval by Zale’s stockholders and certain other customary closing conditions.

March 27, 2014

Net income at Signet Jewelers grew 2% to $175.2 million in the fourth quarter of fiscal 2014, compared to $171.8 million in the fourth quarter of the preceding fiscal year.

Hamilton, Bermuda – Net income at Signet Jewelers grew 2% to $175.2 million in the fourth quarter of fiscal 2014, compared to $171.8 million in the fourth quarter of the preceding fiscal year. Net sales increased 3% to $1.56 billion from $1.51 billion and same-store sales increased 4%.

During the full fiscal year, net income grew 2% to $368 million from $359.9 million and net sales improved 3% to $4.21 billion from $3.98 billion. Same-store sales rose 4%.

February 19, 2014

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.

Hamilton, Bermuda - 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. The total estimated value of the deal is about $1.4 billion. Signet will offer $21 in cash for each Zale share, representing a 41% premium over Tuesday's closing price.

August 29, 2013

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.

Hamilton, Bermuda -- 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.  

Total sales increased 3.1% to $880.2 million, fueled by strong sales at the company’s Kay Jewelers and Jared stores in the United States. Sales were soft at its British chains.

Same-store sales were up 3.6%. At Kay, same-store sales rose 5.8%.

May 22, 2013

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.

Dallas — 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. The company also named Terry Burman as a director and as chairman of the board. Burman is the former CEO of Signet Jewelers Ltd., parent of Zale’s biggest rival, Kay Jewelers.

John Lowe Jr., Zales’ chairman for the past five years, will remain on the board.

May 22, 2013

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.

Dallas — 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. The company also named Terry Burman as a director and as chairman of the board. Burman is the former CEO of Signet Jewelers Ltd., parent of Zale’s biggest rival, Kay Jewelers.

John Lowe Jr., Zales’ chairman for the past five years, will remain on the board.

March 28, 2013

Signet Jewelers Ltd. reported better-than-expected fourth-quarter results, helped by sales gains at its biggest division, Kay Jewelers.

Hamilton, Bermuda -- Signet Jewelers Ltd. reported better-than-expected fourth-quarter results, helped by sales gains at its biggest division, Kay Jewelers. The company, which raised its quarterly dividend by 25%, said it anticipates opening 65 to 75 new U.S. stores for the year. 


Signet, which also operates the Jared chain in the United States and the Ernest Jones stores in Britain, said revenue increased 11.8% to $1.51 billion for the quarter ended Feb. 2.

January 16, 2013

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.

Armonk, N.Y. -- IBM announced Wednesday 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.

The initiative has resulted in consistent sales growth, including a year-over-year increase of 49% in online sales as reported in the company's recently announced holiday sales for fiscal 2013.

October 24, 2012

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.

New York -- 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. Ultra operates stores primarily in outlet centers, as well as licensed jewelry departments.
   
Signet will not assume any debt in connection with the acquisition.