Category: Jewelery News

Signet Jewelers Ltd (SIG) Reports Mixed Fiscal 2024 Results Amidst Industry Challenges

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  • Total Sales: $7.2 billion in Fiscal 2024, a decrease of 8.6% year-over-year.

  • Same Store Sales: Down 11.6% compared to the previous fiscal year.

  • GAAP Operating Income: Increased to $621.5 million in Fiscal 2024 from $604.9 million in Fiscal 2023.

  • Non-GAAP Operating Income: Decrease to $642.8 million in Fiscal 2024 from $850.4 million in Fiscal 2023.

  • GAAP Diluted EPS: Rose significantly to $15.01 in Fiscal 2024, up from $6.64 in Fiscal 2023.

  • Non-GAAP Diluted EPS: Decreased to $10.37 in Fiscal 2024 from $11.80 in Fiscal 2023.

  • Dividend Increase and Share Repurchase: Raised common dividend by 26% and expanded share repurchase authorization to $850 million.

On March 20, 2024, Signet Jewelers Ltd (NYSE:SIG), the world’s largest retailer of diamond jewelry, released its 8-K filing, announcing its fourth quarter and full fiscal year 2024 results. The company, known for its extensive portfolio of jewelry stores including Kay Jewelers, Zales, and Jared, navigated a challenging year with a strategic focus on brand equity, customer experience innovation, and product newness.

Signet Jewelers Ltd (SIG) Reports Mixed Fiscal 2024 Results Amidst Industry ChallengesSignet Jewelers Ltd (SIG) Reports Mixed Fiscal 2024 Results Amidst Industry Challenges

Signet Jewelers Ltd (SIG) Reports Mixed Fiscal 2024 Results Amidst Industry Challenges

Fiscal Year 2024 Performance Overview

For the 53 weeks ended February 3, 2024, Signet reported total

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Jewelery News

Man arrested for role in $100K theft of jewelry at Bridgeport store – NBC Connecticut

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A man has been arrested for his apparent role in an armed robbery that resulted in the theft of nearly $100,000 in merchandise at a Bridgeport store last year.

The police department said they arrested a man in his 30s in connection to a violent armed robbery at ABC Jewelry on Boston Avenue in June 2023.

On June 10, three suspects wearing masks and gloves rushed into the jewelry store with guns and forced three employees into a back room. There, the employees were pistol-whipped and robbed of personal items, police said.

The thieves also stole about $100,000 in mostly gold jewelry after smashing display cases and ripping merchandise off the walls, according to authorities.

The suspects drove off in a getaway car, which has since been recovered and processed by detectives.

As a result of the robbery, one of the employees sustained a head injury and another employee suffered a broken rib, police said.

The police department said they have felony warrants for other suspects involved in the robbery. Two of those people are currently in prison on unrelated charges, and they will be charged in the near future.

The first suspect was arrested on Friday. He and the

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Jewelery News

Gold prices decrease marginally – VnExpress International

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By Minh Hieu &nbspMarch 19, 2024 | 11:58 pm PT

Gold prices decreased marginally

A person holds gold jewelry at a shop in Ho Chi Minh City. Photo by VnExpress/Quynh Tran

Saigon Jewelry Company gold bar price slid 0.13% to VND81.7 million ($3,297.68) per tael Wednesday morning.

Gold ring price was unchanged at VND68.7 million per tael. A tael equals 37.5 grams or 1.2 ounces.

Globally, gold prices were stuck in a tight range on Wednesday as traders prepared for a key policy decision from the US Federal Reserve and remarks from Fed Chair Jerome Powell later in the day, which could shed more light on prospects of rate cuts this year, Reuters reported.

Spot gold was steady at $2,158.29 per ounce. US gold futures edged 0.1% higher to $2,161.60.

With the US central bank expected to hold rates steady, traders are awaiting its economic and interest rate projections for the rest of the year.

“There’s a real chance that the Fed may not be as dovish as traders want to hear, and that the median dot plot could be revised from three to two, or even one Fed cut this year,” City Index senior analyst Matt Simpson said.

“And that could trigger a

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Jewelery News

Jeweler’s net jumps 34pc to $299m

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https://www.thestandard.com.hk/section-news/section/2/261347/Jeweler's-net-jumps-34pc-to-$299m

Emperor Watch & Jewelery (0887) saw its net profit increase by 34.7 percent year-on-year to HK$299.2 million in 2023 as tourists returned and consumer sentiment improved.

Revenue rose 31 percent to HK$4.82 billion, with HK$2.51 billion and HK$1.37 billion from Hong Kong and mainland markets accounting for 52 percent and 28.5 percent of the total respectively.

Sales for the watch and jewelry division amounted to HK$3.48 billion and HK$1.34 billion respectively.

Gross profit rose by 23.2 percent from HK$1.18 billion in 2022 to HK$1.45 billion.

The company declared a final dividend of 56 HK cents per share last year, compared with 62 HK cents in 2022.

The luxury retailer said it expects Chinese consumers to spend locally amid continuous fluctuations of the yuan, and this will benefit its business in Hong Kong, Macau and the mainland.

It has 93 stores across Hong Kong, Macau, the mainland, Singapore and Malaysia.

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Jewelery News

Santa Barbara Police Arrest Suspected Jewelry Store Thief with Loaded Gun

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Jewelry and Gun Believed to Have Been Used in Robbery Found During Suspect’s Arrest, Police Say

Credit: Chalabala – stock.adobe.com

Detectives with the Santa Barbara Police Department have arrested a suspect in a string of recent crimes targeting local jewelry stores.

According to police spokesperson Ethan Ragsdale, one robbery and two grand thefts/burglaries occurred at three jewelry stores in Santa Barbara between February and March. The total value of the stolen jewelry was estimated at around $53,000, Ragsdale said.

Following weeks of investigation, detectives identified 40-year-old Santa Barbara resident Omar Velazquez Sanchez as the suspect in the case. On March 15 at around 10 p.m., SBPD detectives and the SWAT team arrested Sanchez near the intersection of Quinientos Street and South Milpas Street “without incident,” Ragsdale said.

According to Ragsdale, detectives located multiple items of jewelry on Sanchez during his arrest that police believe were from the involved jewelry stores. A loaded firearm with a removed serial number that’s believed to have been used during the one robbery was also found in the car Sanchez was driving, Ragsdale said.

Sanchez was booked into the Santa Barbara County Jail for the following crimes:

  • Felony burglary — 3 counts
  • Felony grand theft
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Jewelery News

Ropes, brass, salt, stone: Reinventing jewelery in Kenya

Posted on By Syifa
Kenyan designer Ami Doshi Shah, with some of her eclectic jewelry pieces at her home studio, where she creates eclectic hand-made jewelry using locally sourced raw materials varying among semi-precious stones and metals, in Nairobi on 16 February 2024. (Tony Karumba /AFP)

Kenyan designer Ami Doshi Shah, with some of her eclectic jewelry pieces at her home studio, where she creates eclectic hand-made jewelry using locally sourced raw materials varying among semi-precious stones and metals, in Nairobi on 16 February 2024. (Tony Karumba /AFP)

  • Sisal ropes, salt crystals, volcanic rocks and aged brass: award-winning Kenyan designer Ami Doshi Shah has always chosen unlikely materials to make sophisticated jewelery that redefines value in a carat-obsessed industry.
  • Her 2019 collection Salt of the Earth featured ropes, salt crystals and patinated blue-green brass, and was showcased in exhibitions at London’s Victoria and Albert Museum and New York’s Brooklyn Museum.
  • A third-generation Kenyan of South Asian origin, she interned at Indian jewelers such as The Gem Palace, whose patrons have included Princess Diana, Oprah Winfrey and Gwyneth Paltrow.

Sisal ropes, salt crystals, volcanic rocks and aged brass: award-winning Kenyan designer Ami Doshi Shah has always chosen unlikely materials to make sophisticated jewelery that redefines value in a carat-obsessed industry.

“As a child, I was always finding beauty in unusual things like stones and fossils,” Shah, 44, told AFP in an interview at her rooftop studio in Kenya’s capital Nairobi, where she crafts her pieces by hand.

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Jewelery News

GIA’s 7th Annual Jewelery Design Competition Celebrates Emerging Talent

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Recognizing the outstanding talent of GIA (Gemmological Institute of America) Jewelery design students from around the world globally, the Institute was recently awarded the seventh Gianmaria Buccellati Foundation Award for Excellence in Jewelery Design. The award, created with the Gianmaria Buccellati Foundation in 2018, was presented during the annual GIA Alumni Collective celebration in Tucson, AZ, to Suhan Wang, a graduate of the GIA school in Taipei.

“On behalf of the Gianmaria Buccellati Foundation and Rosa Maria Buccellati, we want to congratulate Ms. Suhan Wang, this year’s award winner, plus all the other designers whose work has honored this competition,” said Larry French, chief officer for North American strategies at the foundation. “We appreciate the talented GIA design instructors whose skill and efforts helped the students on their journey to celebrate the art of Jewelery design in the highest way, an art that means so much to our founder Gianmaria Buccellati.”

The judges for this year’s competition were Nanz Aalund, Jewelery designer, goldsmith, and educator; Cathy Calhoun, owner of Calhoun Jewelers; Victoria Gomelsky; editor-in-chief of JCK; Charles Lewton-Brain; Jewelery artist and co-founder of the Ganoxin Project; Remy Rotenier, fine Jewelery designer and design teacher; and Shelly Sergent, collections manager of

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Jewelery News

Fuli Gemstones Debuts ‘Aura Cut’

Posted on By Syifa
Hong Kong—China-based peridot miner Fuli Gemstones introduced a new gem cut last month at the HKTDC Hong Kong International Diamond, Gem & Pearl Show.

Presented in celebration of the Lunar New Year, the new “Aura Cut” is a round cut with a total of 101 facets.

A traditional round brilliant cut has 58 facets, with 33 facets on the crown (top half of the stone) and 25 facets on the pavilion (lower half of the stone).

For the “Aura Cut,” the crown has 37 facets, with nine facets in each of the four sections plus the table. The pavilion has 64 facets, with 16 facets in each of the four sections.

Peridot from the Fuli mine, located in northeastern China near the Changbai Mountains, has a light, bright green hue due to a lower content of iron, which is responsible for peridot’s color intensity.

The new cut’s name was chosen as a reflection of the energy of the gemstone emits when observed, Fuli said, a positive energy achieved by combining its “distinctive green” peridot with the cutting innovation required for the “Aura Cut.”

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Jewelery News

artificial jewelery sets: Artificial jewelery sets for women under 1000

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A woman feels empowered enough to conquer the world when she puts on her favorite jewels. A versatile artificial jewelery set is a must-have in every woman’s vanity; it not only helps to complete the look but also makes your outfit look rich and elegant. It is important to choose jewelery made from the highest quality materials, keeping in mind the color and smooth finishing that doesn’t look flimsy or cheap. However, selecting the right one can be tough when there are tons of options available online. To make your task easy, we have shortlisted 10 best artificial jewelery sets under 1000 that will help you elevate your look.

List of artificial jewelery sets for women under 1000:

Read more about other Lifestyle items on the Top Trending Products page. Check out the artificial jewelery sets for women under 1000 below.

1. ZAVERI PEARLS Delicate Ruby Necklace Set


If you are into contemporary jewellery, then ZAVERI PEARL’s ruby ​​necklace set is definitely the right pick for you. The series of pink stones look stunning on the gold base and will perfectly go with ethnic and as well as Indo-western attires. This versatile piece of jewelery can be worn at various

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Jewelery News