De Beers’ GemFair delivering ‘positive impacts’ to ASM sector in Sierra Leone – David Johnson

GemFair, a pilot project developed by De Beers to create a secure and transparent route to market ethically sourced artisanal and small-scale mined (ASM) diamonds, is already delivering “important positive impacts” in Sierra Leone. Group head...

11 november 2019

Belgian-quality diamond boiling in Dubai from TRIGEM

Born in New York, David Zabinsky is CEO & Co-Founder of TRIGEM, an independent diamond service provider in Dubai. Before TRIGEM, David was Manager at Ras Al Khaimah Economic Zone, where he was responsible for securing North and South American investment...

05 november 2019

Pavel Shelkov: "Our project is an attempt to fit Russia into the global trend and create a new private company in the diamond industry"

At the end of September, Moscow hosted the Second Annual Conference, "Gold and Diamond Mining Companies of Russia and Europe." The audience showed great interest to the presentation made by diamond geologist Pavel Shelkov of Almazy Zapolyarya...

28 october 2019

The team that turns sleeping stones into beautiful polished diamonds

Maxim Zemlyakov is the Director General of ADMS OOO, a company cutting and polishing natural and synthetic diamonds in Oryol. He has been the Director General of Oryol-ALROSA since 2007. Before heading it, he worked as a grinder, cutter, instructor...

21 october 2019

Demand will pick up once the season starts

N Anantha Padmanaban took charge as the Chairman of the All India Gem & Jewellery Domestic Council (GJC) in January 2019. He has immense hopes and confidence in the Indian jewellery sector. His motto is to ‘ensure that after the day’s business...

14 october 2019

Signet Jewelers reports 2Q fiscal 2020 financial results

10 september 2019

signet_logo_news.pngSignet Jewelers Limited, the world's largest retailer of diamond jewelry, announced its results for the 13 weeks ended August 3, 2019 (“second quarter Fiscal 2020”).
Signet's total sales were $1.36 billion, down 3.9%, in the 13 weeks ended August 3, 2019 on a reported basis and down 3.4% on a constant currency basis.
eCommerce sales were $156.9 million, up 4.4% year over year. eCommerce sales accounted for 11.5% of sales, up from 10.6% of total sales in the prior year quarter.
In Fiscal 2020, the company expects to close approximately 150 stores, with 66 closures in the fiscal year to date and limited new store openings for the full year. The company expects it will have reduced its store base by approximately 13% over the three-year period from Fiscal Years 2018 - 2020.
“As we enter the competitive holiday season, we believe we are positioned to execute our product strategy by launching additional flagship brands, delivering relevant on-trend new merchandise and offering a highly competitive assortment for value-oriented shoppers. We remain focused on delivering our Path to Brilliance transformation designed to drive sustainable growth and create value for our shareholders over the long-term,” said Signet Chief Executive Officer Virginia C. Drosos. 

Alex Shishlo, Editor of the Rough&Polished European Bureau