E-commerce Leads Signet's Post-Lockdown Recovery

By John Jeffay / September 07, 2020 / www.idexonline.com / Article Link

(IDEX Online) - Signet appears to be bouncing back, with an unprecedented $270m of e-commerce sales making up, in part, for the enforced closure of stores during lockdown.The jeweler saw virtual sales up 72.1 per cent in the second fiscal quarter, compared with same period in 2019, as it served more than 300,000 customers via online consultations.James Allen, Signet's e-commerce brand, was the only division that saw growth during the quarter.During the same period bricks and mortar same store sales slumped by 46 per cent.Signet, the world's biggest retailer of diamond jewelry, reported revenue down 35 per cent to $888m - a better-than-expected performance - but  gross profit plunged 51 per cent to $224.3m. Revenue at Kay Jewelers was down 39 per cent to $325m, at the Zales banner it dropped 34 per cent to $185.1m and Jared's sales were also down 34 per cent to $168.5m.Total bridal sales across all brands was down 27 per cent to $445.9m.

Recent News

Gold miner stock ETFs outpace rest of sector from mid-2024

January 27, 2025 / www.canadianminingreport.com

Gold stocks outpace broader equity gains

January 27, 2025 / www.canadianminingreport.com

Gold stocks rise but lag broader equity gains

January 20, 2025 / www.canadianminingreport.com

Wesdome, Seabridge and Skeena report outstanding drill results

January 20, 2025 / www.canadianminingreport.com

Smaller juniors still financed even in more cautious market

January 13, 2025 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok