Signet Jewelers would only try and build another chain through an acquisition, CEO Terry Burman said this week at an industry conference, quoted by Reuters.
“We tried for about three years growing organically and we couldn’t do it; it’s going to have to be through an acquisition,” Burman said.
Asked to elaborate, Sterling spokesman David Bouffard told JCK: “It is Signet’s policy not to comment on industry or market speculation, and important to note our demanding operating and return criteria that any form of investment has to meet.”
Sterling Jewelers acquired Kay Jewelers in 1990. It acquired Marks & Morgan Jewelers in 2000. Merger talks between Zale and Kay fizzled in 2006.