Signet Jewelers Holiday Sales Up 5%, Same Store Sales Up 4.9%

Kay Jewelers, the largest specialty retail jewelry store in the US based on sales, posted a year-over-year 8.9 percent increase in sales to $778 million.

Signet Jewelers Limited said Thursday that year-over-year sales increased 5 percent to nearly $1.95 billion for the eight-week holiday period ended December 26. Total sales for the period at constant exchange rates increased 6.3 percent compared to the prior year.

Holiday same-store sales increased an equally impressive 4.9 percent compared to an increase of 3.6 percent in the prior year. This was driven primarily by mall-based and outlet concepts in the US as well as Ernest Jones stores in the UK, the company said.

Signet’s e-commerce sales for the holidays increased 10.9 percent to $139.7 million.

Signet bills itself as “the world's largest retailer of diamond jewelry” operating approximately 3,600 stores and eCommerce properties in the US, UK, Canada and Puerto Rico primarily under the name brands of Kay Jewelers, Zales, Jared The Galleria Of Jewelry, H.Samuel, Ernest Jones, Peoples and Piercing Pagoda.

Mark Light, Signet CEO, said in a statement the positive results “were driven by broad-based success across strategic store brands, merchandise categories and selling channels…. The continuation of strong sales and profitability combined with operating expenses that were in-line with expectations, including as-anticipated credit-related expense trends, enabled us to narrow our fourth quarter earnings guidance as well as our same store sales guidance to the top end of the previously provided guidance.”

In a conference call with investors this morning Light was particularly upbeat regarding its “Ever Us” two-diamond ring promotion that was used for several of the company’s brands, including Kay, Zale and Jared in the US, H.Samuels and Ernest Jones in the UK. Light said it was the biggest new launch in Signet’s history and did well in all the stores in the US and UK that carried the program.

“Most importantly, it crosses over gift giving categories and we are excited by that,” Light added.

Nearly all of Signet’s US properties did well during the holidays led by Kay Jewelers, the largest specialty retail jewelry store in the US based on sales, which posted a year-over-year 8.9 percent increase in sales to $778 million. Same store sales for the middle-market retail jeweler were 7.2 percent.

Zales US jewelry stores saw a 6 percent increase in sales to $400.2 million and a 5.6 percent growth in same store sales.

In the UK Ernest Jones same store sales increased 6.9 percent, while total sales were up 4.9 percent to $98 million (9 percent at constant exchange rates).

Only Signet’s Canadian operations suffered losses for the holiday season. Revenues in Canada and the UK were negatively impacted by exchanges rates.

Fourth quarter financial guidance was adjusted upward and is as follows:

* Same store Sales 4.6 percent to 5 percent
* Earnings per Share $3.44 to $3.50
* Adjusted Earnings per Share $3.54 to $3.60

Please join me on the Jewelry News Network Facebook Page, on Twitter @JewelryNewsNet and on the Forbes website

Pandora 2015 Revenue Up 40% to $2.4 Billion

Pandora presented its preliminary 2015 report Wednesday, saying its revenue increased approximately 40 percent year-over-year to 16.7 billion Danish krone ($2.4 billion), exceeding its financial guidance of 16 billion Danish krone. The increase was aided by favorable foreign exchange rates of around 11 percent, a percent above what the company projected in November 2015.

The company’s preliminary EBITDA margin is 37 percent, one percentage point above its 2014 margin. The company, which has been in expansion mode, reports its capital expenditure in 2015 was approximately $1 billion Danish krone ($144 million), more than double its 2014 expenditure.

Pandora designs and markets its jewels at its Copenhagen, Denmark, headquarters and manufactures the pieces in Gemopolis, Thailand. Primarily known for its charms, it sells its jewelry through approximately 9,500 points of sale, including more than 1,600 branded stores, in more than 90 countries on six continents.

Pandora is publicly listed on the NASDAQ Copenhagen stock exchange in Denmark. In 2014, Pandora's total revenue was 11.9 billion Danish krone (approximately $1.7 billion).

Just over a week ago, Pandora made some news in Australia. It was reported that the company sent an email to its retailers in Australia warning them against working with Karin Adcock, the former president of Pandora in Australia and New Zealand. In 2013, she founded House of Brands, which recently became the exclusive distributor of fast-growing US fashion jewelry brand Alex & Ani, which competes in the same retail market as Pandora.

Please join me on the Jewelry News Network Facebook Page, on Twitter @JewelryNewsNet and on the Forbes website

Elvis Presley’s Jewels, Watches On Auction At Graceland And Online

Elvis Presley owned and worn 1914 Indian Head gold 2 1/2-dollar coin and diamond ring

Elvis Presley had his own style and it included the jewelry and watches he wore and gave as gifts. He preferred yellow gold, diamonds, sapphires and antique coin rings. Several pieces had personal meaning to Presley and those closest to him. 

At least seven of his jewels and watches are among 126 authenticated pieces of memorabilia up for auction January 7 at Graceland, Presley’s former Memphis, Tenn., estate that is now a museum dedicated to the life of one of America’s most famous singers and actors. Bids also will be taken worldwide via mobile and online bids on Invaluable.com and on eBay.

The items include the following:

Elvis Presley Owned and Worn 1914 Indian Head Gold 2 1/2-Dollar Coin and Diamond Ring Gifted to Elvis Tour Promoter Tom Hulett (top photo)
This ring, one of several Indian Head rings he owned, was given by Elvis to Tom Hulett who, with Colonel Parker, managed Elvis’ live performances in the 1970s. Twenty-six round diamonds weighing approximately 1-ct. surround the Indian Head side of the coin. The size 8½ ring is set in gold. The reverse of the coin with eagle is visible from the underside of the mounting. It’s offered with a letter from Tom Hulett on Concerts West, Inc. letterhead authenticating the gift. Its estimate is $20,000 - $25,000.

Elvis Presley 14k "TCB" Necklace Gifted to Bodyguard Sam Thompson

Elvis gave TCB necklaces to those close to him. This one is gifted to Sam Thompson by Elvis and is accompanied by an affidavit from Thompson stating that he wore the necklace until the day Elvis died and that it was damaged during an altercation in Duluth, Minn., on April 28, 1977, and that both loops and the chain were replaced May 1-2, 1977, by a jeweler in Chicago. Thompson was Elvis’ bodyguard and the brother of Elvis’ girlfriend Linda Thompson. This TCB necklace was made by Elvis' jeweler Lowell Hays. The necklace is being offered with a copy of Sam’s book “Elvis on Tour: The Last Year,” autographed by Thompson. It includes several photos of Sam wearing his TCB necklace. The TCB with a lightning bolt through it is a symbol of Elvis and those close to him. It’s an acronym for “Taking Care of Business.” Its estimate is $12,000 - $15,000.

Elvis Presley's 10K Gold Ring with 56 Diamonds

The 10k gold men’s ring, size 10 3/4, contains 56 diamonds. The diamonds are set within a tiered octagonal design and openwork interior underneath. The ring was given to Sam Thompson by Elvis. Thompson was Elvis’ bodyguard and the brother of Elvis’ girlfriend Linda Thompson. It is accompanied with a letter from Thompson authenticating the gift, which includes an image of the ring on a man’s pinky finger. Its estimate is $10,000 - $15,000.

Gold Baume & Mercier Watch Gifted By Elvis Presley to Imperials Member Armond Morales at the International Hotel, 1969

This vintage Baume & Mercier 14k yellow gold wristwatch was a gift from Elvis to Imperials member Armond Morales. Elvis gave each member of The Imperials a Baume & Mercier personally engraved wristwatch in 1969 when they performed with him during his appearances at the International Hotel in Las Vegas. The receipt for the purchase of this watch is cataloged in the Graceland Archives collection. The watch is accompanied by an official letter from Armond Morales, which details the circumstances surrounding the gift, including misspellings of his name and the word “squirrelly.” The watch and letter also come with a copy of a 4-by-6 inch photo of Elvis and The Imperials. The watch is marked “Baume & Mercier / Geneve / Swiss” on the gold face. The textured gold surround on the dial with a quartz movement is mounted to a weave patterned gold bracelet with snap channel clasp. Its estimate is $10,000 - $15,000.

1969/70 Elvis Presley's Gold, Diamond and Black Sapphire Ring - The "Number 10" Ring

This 14k gold ring has an open front, squared-back band that creates the number “10” on the finger or when laying on a flat surface. The “1” is a rectangular design containing 3 diamonds. The “0” is a large black cabochon star sapphire weighing approximately 2.5 carats, surrounded by 13 diamonds, each contained in its own channel. The ring, size 9, is accompanied by a letter from Richard Davis, a prominent employee of Elvis, which authenticates that “The King” both wore the ring and gave it to Davis as a gift. Also included in the lot are five 3 by 5 inch (7.62 by 12.7 cm) copies of pictures depicting Richard Davis and Elvis over the years. Its estimate is $10,000 - $15,000.

Elvis Presley "Aztec" Ring with Jaguar Head

The Aztec-patterned, 14k yellow gold men’s ring contains an opaque green, chrysoberyl, calcite cabochon above a protruding stylized jaguar head set with green tourmaline eyes. This ring is offered with a letter from Sam Thompson authenticating that it was given to him by Elvis. In addition, the ring comes with a letter from Robert M. Triplett confirming that he purchased the ring directly from Sam Thompson and the name of the person to whom Robert traded the ring. The size 9 ring has an estimate of $10,000 - $15,000. 

1973 Gold Omega TC1 Digital Watch with Inscription Gifted to Charlie Hodge from Elvis Presley

This futuristic style digital watch with LED screen on its rectangular face was produced by Omega as its TC1 (Time Computer) model. The watch, with 14k gold-filled bezel, quartz movement and 10k gold-filled top caps and deployment clasp, was gifted to Charlie Hodge by Elvis and is inscribed on the stainless steel back “To: Charlie From: E.P.” The buttons to set the minute and hour displays are located on the stainless steel back cover plate, and are activated by a magnet housed in a small compartment on the back of the watch’s clasp. Elvis purchased 30 watches for a total of $8,000 from Lowell Hayes on August 30, 1974, to give as gifts to friends and family. The receipt for the purchase of this watch is cataloged in the Graceland Archives. Also included is a photo of Elvis in 1974 in which one of his guys can be seen wearing this same watch. Its estimate is $4,000 - $6,000.

Please join me on the Jewelry News Network Facebook Page, on Twitter @JewelryNewsNet and on the Forbes website

Luxury Watches That Celebrate The Year Of The Monkey

Chopard L.U.C XP Urushi “Year of the Monkey”

The Chinese New Year, celebrated throughout Asia and in Chinese communities around the world, will be celebrated February 8. Also known as the lunar new year or spring festival, this year, in accordance with the with the Chinese zodiac, is the Year of the Monkey. Luxury watch brands, as they do each year, create timepieces with specially designed dials. This year these dials depict interpretations of the monkey in ways that are historically and culturally meaningful. Among the timepieces available for sale are the following: 

Chopard L.U.C XP Urushi “Year of the Monkey” (top photo)
This timepiece features a Urushi lacquered dial, hand-crafted in Japan by a master lacquer artist. It depicts a red-coated monkey perched on a branch laden with fruit. It is gathering peaches beneath a golden sky ablaze with the last rays of the sun. Behind it, golden valleys compose a warm scene in soft tones.

Urushi lacquer comes from the sap of the “lacquer” or “Japanese varnish” tree. The transparent lacquer is applied in extremely fine layers that contain gold dust motifs created using the meticulous Maki-e technique. 

To create the dial and case, Chopard worked with the firm Yamada Heiando, official purveyor to the Japanese imperial family. Master Kilchiro Masumura designed and supervised the creation of the dials, executed by Master Minori Koizumi, an Urushi master. 

The 39.5 mm 18k rose gold timepiece is powered by the L.U.C 96.17-L automatic movement. 

Ulysse Nardin Year of the Monkey Classico

The watch brand describes the monkey depicted on the dial as “playful and happy.” It’s designed in a comic strip-like style to capture the lively creature’s character as it appears to leap through a brush of palm fronds. 

The champlevé method of enameling brings the artist’s sketch to life. The technique consists of cells being carved with a chisel directly on the dial and filled with enamel. Its colors are generated from different metallic oxides, and for this piece, a neutral palette is used. It is then fired until the enamel melts. It is mastered in-house at Donzé Cadrans, a member of the Ulysse Nardin group of companies.

The 40 mm 18k rose gold timepiece is powered by the UN-815 automatic movement with a COSC-certified chronometer. It is limited to 88 pieces.

Vacheron Constantin Métiers d’Art La Légende du Zodiaque Chinois Year of the Monkey

Vacheron Constantin master engravers and enamellers interpreted paper cutting techniques in China and Switzerland in the creation of this limited-edition timepiece. 

The foliage motif on the dial is based on classic Chinese iconography that is etched directly in the metal. The pattern remains semi-embedded and stands out from its gold base by accentuating reliefs, making the vegetation appear to be floating over the dial. 

Next is the Grand Feu enameling, applying the enamel in successive layers to enhance the intensity of the blue or bronze-toned dial before being fired at temperatures between 800 and 900 degrees Celsius. The monkey, made of platinum or gold, is hand engraved and applied to the dial center. 

The 40 mm timepiece is powered by the Caliber 2460 G4 movement. It is limited to 12 pieces in platinum and 12 in pink gold.

Harry Winston Premier Monkey Automatic 36mm

The ladies timepiece has a pink mother-of-pearl dial, enhanced with flecks of 24k gold, each set in individually carved hollows to create a pink and gold constellation. An 18k gold monkey with a diamond for an eye hangs against this luminous, as if grasping the bezel at 9 o’clock, while his tail winds around an emerald-cut diamond at 12 o’clock. Appliqué and marquise-cut openwork create a scene inspired by Jianzhi, an ancient Chinese art form. 

The rose gold timepiece is powered by the HW2008 automatic movement. The bezel, lugs and buckle are set with 74 brilliant-cut diamonds for a total weight of 2.47 carats. It comes with a black satin strap.

It is available in a limited edition of eight pieces. 

Please join me on the Jewelry News Network Facebook Page, on Twitter @JewelryNewsNet and on the Forbes website

Happy 2016

The Waterford Crystal Ball welcomed 2016 on New York’s Times Square 

Every year it comes to this, a chance to wipe the slate clean of all the highpoints and disappointments of the prior year and start again. January 1 is the day when everyone gets a mulligan, a redo. So let’s set our goals and start anew. It’s time to visualize how we want our lives to be. 

And maybe this year we’ll get it right. 

Please join me on the Jewelry News Network Facebook Page, on Twitter @JewelryNewsNet and on the Forbes website

Several Country Pavilions At Jewellery & Gem Fair — Europe

The third edition of Jewellery & Gem Fair – Europe will include pavilions from ACODES (Colombia),Germany, Hong Kong, IBGM (Brazil), Italy, Mauritius and Thailand.

“We are glad to receive continuous support from group pavilions, all of them have participated since the first edition of JGF Europe,” said Ms Celine Lau, director of Jewellery Fairs, UBM Asia. The trade fair will be held from March 19 to 22, 2016, occupying 19,000 square meters of exhibition space at Messe Freiburg, Germany.

As of December more than 70 suppliers have confirmed participation under the Germany Pavilion, Lau said. They include Gerstner August GmbH &Co KG, a supplier of wedding rings, and Bialonczyk Gemstones & Melopearls, which will showcase a €200,000 ($217,633)—melo pearl ring with a special mechanism. 

Thailand pavilion returns with suppliers that include Laj Enterprises Ltd Partnership and Pamir Gems Co Ltd. Laj Enterprises Ltd Partnership will showcase jewelry made of sterling silver and cubic zirconia—a category that was popular among buyers in the last edition, Lau said. Pamir Gems Co Ltd will offer a selection of pink and blue spinel. 

Exhibitors under the Hong Kong pavilion will offer well-designed and competitively priced jewelry products. The Italian Pavilion will feature nearly 30 suppliers offering red coral and other types of finished jewelry. ACODES pavilion is the place to source Colombian emeralds.

Exhibiting under the Hong Kong Pavilion, Christelle Ltd, will showcase 18k gold strappy rings with white diamonds. Gyso Pearls & Jewellery Limited, also in the Hong Kong pavilion, is a first-time participant at JGF Europe. The company will showcase south sea and fresh water pearls.

Visitor pre-registration for the Fair is now available at www.jgf-europe.com/pre-registration. Pre-registration enables visitors to avoid long lines at the registration counters and save the admission fee of €30.

UBM Asia is offering a free shuttle bus service running to Messe Freiburg throughout the fair’s four-day run. The timetable will be announced later. For updates, go to www.jgf-europe.com/shuttlebus

Deutschen Bahn AG is offering a special concession on train tickets (from € 99 and up) for visitors travelling from any German city to JGF Europe in Freiburg. Visit www.jgf-europe.com/train for booking details.

The Fair‘s Official Airline, Lufthansa Group Partner Airlines, will offer special air fares for attendees and exhibitors from Asia. Use access code CNZZQGC when making a reservation. 

Please join me on the Jewelry News Network Facebook Page, on Twitter @JewelryNewsNet and on the Forbes website

Happy Holidays

Once again much of the world is set to celebrate the holiday season. We at Jewelry News Network are hoping that your holidays are bright and cheery and that everyone gets what they want and, more importantly, need. 

Also, I hope you've all been good this year because Santa is watching. 

Please join me on the Jewelry News Network Facebook Page, on Twitter @JewelryNewsNet and on the Forbes website