“Lab-Grown Diamonds is probably the biggest scam this industry has ever seen,”: Leibish Polnauer, Founder-President, Leibish & Co.

An interesting story from the Leibish & Co takes you way back to the year 1979 when young Leibish Polnauer, then a diamond polisher, was travelling to London, having just found out that the factory at which he worked had been shut down. He found an advertisement...

24 june 2019

Botswana mining industry players speak on speculative exploration licences

Speculative mineral exploration licences was a recurring theme from presentations made by three players in Botswana mining industry at a conference convened in Gaborone. The country has issued thousands of exploration licences, across the mining industry...

17 june 2019

Design is the key to all markets

Besides being an astute businessman, Mumbai-born Laksh Pahuja is a designer par excellence known globally for his awe-inspiring unusual jewellery pieces. Trained at the Gemological Institute of India and Harrow College of Art England, Laksh combines...

10 june 2019

Mutual mass destruction will not serve anybody’s purposes

The recent moves by the U.S. Federal Trade Commission (FTC), including its letters urging some companies to abide to the revised edition of FTC Jewelry Guides and the explanations from FTC attorney Robert Frisby posted on the FTC website were...

03 june 2019

Pavel Sokolov: Every stone has its beauty

THE ‘GEMSTONES BY SOKOLOV’ brand has been popular for over 25 years. The aim of this company is to supply any kind of gem studs to the Russian market including the unique ones except diamonds of any cut. The product range by the SOKOLOV Company is very...

27 may 2019

Signet Jewelers Reports 4Q and Fiscal 2019 Results

05 april 2019

signet_logo_news.pngSignet Jewelers Limited, the world's largest retailer of diamond jewelry, announced its results for the 13 weeks (“fourth quarter Fiscal 2019”) and 52 weeks ("Fiscal 2019") ended February 2, 2019.
Signet's total sales in the fourth quarter were $2.15 billion, down $138.4 million or down 6.0% on a reported basis and down 5.4% on a constant currency basis. Total same store sales performance decreased 2.0% year-over-year.
Signet's total sales for the 2019 fiscal year were $6.2 billion, down $5.9 million or 0.1%, compared to Fiscal 2018. Total same store sales performance was down 0.1% versus the prior year.
Virginia C. Drosos, Chief Executive Officer, commented, "In Fiscal 2019, we began our Path to Brilliance transformation journey, building foundational capabilities to drive future growth. We made progress on our Path to Brilliance initiatives, achieving double-digit eCommerce growth, delivering $85 million of net cost savings, and continuing to optimize our store footprint. However, we did not finish the year as strongly as expected due to a highly competitive promotional environment, continued consumer weakness in the UK, and lower than expected customer demand for legacy merchandise collections that impacted our holiday fourth quarter results."

Alex Shishlo, Editor of the Rough&Polished European Bureau in Brussels