Signet’s U.S. Domination

A Powerpoint presentation (PDF) that accompanied the release of Signet’s financial results includes a pretty impressive slide (p. 13) that shows that Kay and Jared (both owned by Signet) are virtually the only major jewelry chains whose sales grew appreciably in the generally good years of 2002 to 2007:

2007 2002
Kay 1490 1110
Zale 1089 1004
Jared 756 259
Helzberg’s 500 550
Fred Meyer 465 475
Gordon’s 329 321
Friedman’s 300 674
Bailey Banks Biddle 284 315
Shane 270
Whitehall 243 341

Sales in millions.

A few notes on this: The Helzberg numbers are National Jeweler estimates. Two names on that list have liquidated (Friedman’s and Whitehall), and a third (Shane) is currently in Chapter 11.

Now, a more up-to-date chart would provide a truer picture – and might be less flattering to all concerned. The company did do the “least bad” of the major chains last holiday that announced results publicly, with sales falling “only” 16 percent. 

But with its announcement that sales for the first seven weeks of the new fiscal year fell 1.7 percent, and the very good reports I’m hearing about the Jane Seymour collection, one can’t help but be impressed by Signet.

JCK News Director