(IDEX Online) - Signet has announced a boycott of diamonds and precious metals from Russia.The move came as it announced a steep hike in revenue for the last quarter, with total sales of $2.8bn, largely driven by a post-Covid wedding surge.The world's largest retailer of diamond jewelry - parent company to Kay Jewelers, Zales, Jared, Direct, JamesAllen.com and others - now accounts for 9.3 per cent of all jewelry sold in the US.Signet CEO Gina Drosos (pictured) told suppliers in a memo that it has "halted all trade in precious metals and diamonds that originate from such sanctioned Russian sources, and you are therefore requested to stop supplying the same to Signet even though the country(s) in which you operate may not have imposed sanctions on Russian precious metals and diamonds."Sales for the quarter ending 29 January were $2.8bn a 28.6 per cent increase year-on-year. Total sales for the fiscal year were $7.8bn, an increase of 49.7 per cent from the previous year. Its forecast revenue for the current quarter at $1.78bn to $1.82bn.