Signet Wants to Sell U.K. Chains: Report

Signet Jewelers wants to sell its two United Kingdom brands,
H Samuel and Ernest Jones, according to a
report in the London newspaper The
Telegraph
.

The company currently owns 544 stores in the United Kingdom.

Asked for a response, Signet, which owns the Kay and Jared
chains in the United States, told JCK
“we do not comment on market speculation.”

The newspaper wrote that financial advisory firm Lazard has
been “sounding out a number of private equity buyers about their potential
interest in the business,” adding that the chains could fetch from 400
million to 600 million pounds (about $650 million to $970 million).

In recent financial
reports
, Signet’s American business outperformed its chains in the United
Kingdom.

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