Ali Pastorini: Challenges make us think out of the box and be closer to customers

Ali Pastorini is the co-owner of DEL LIMA JEWERLY and President of Mujeres Brillantes, an association which brings together more than 1,000 women working in the gold and diamond trading sector, mainly from Latin America, as well as from Turkey, Spain...

Yesterday

Today’s customer needs an offer of something unique that others do not have

Oksana Senatorova is the publisher of the Jewelry Trade Navigator magazine and the founder of the Jewellery Business Academy.
She graduated from I. M. Sechenov Medical Academy and the Faculty of Psychology of Lomonosov Moscow State University...

09 january 2020

Inventories accumulated by De Beers, ALROSA to put ceiling on prices near-term even if demand substantially picks up – Zimnisky

As we are in the last month of 2019, it is prudent to examine what the diamond industry went through and the possible trajectory in the upcoming year. Industry expert, Paul Zimnisky spoke with Rough & Polished’s Mathew Nyaungwa to discuss this and other...

30 december 2019

Empowering customers and engaging more with our stakeholders is the new Mission

The unassuming Govindbhai Laljibhai Dholakia, Chairman, Shree Ramkrishna Exports Pvt Ltd (SRK) is not just an ace businessman but a noted philanthropist. He has contributed immensely to social welfare with special focus on education … a noteworthy...

23 december 2019

‘Dubai has proven to be a great port for diamond tenders’

Stargems, which was established by Shailesh Javeri in 1981, has been involved in the trading of rough diamonds and is now also into manufacturing, wholesaling, retailing, tendering of diamonds and diamond jewellery. Although, the company has operations...

16 december 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