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Signet’s Jared to Add Pandora Boutiques in 200 Stores

Dec 3, 2015 3:10 AM   By Rapaport News
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RAPAPORT... Signet Jewelers’ Jared unit will upgrade more than 200 of its stores to include new Pandora boutiques.

Signet, the world’s largest retailer of diamond jewelry, will start installing the enhanced boutiques from next year, according to a Signet statement December 2. Jared had 268 stores as at October 31, according to figures released with its third-quarter results November 24.

“For more than seven years, Jared guests have come to rely on an extensive collection of Pandora jewelry matched with a great customer service experience, helping build new relationships,” Signet chief executive Mark Light said.

“The Pandora brand has been attracting an incremental customer base to Jared for years and we’re confident that the more branded presence of a shop-in-shop, a successful model of watch and jewelry boutiques in Jared and other Signet store brands, will serve an even greater number of Pandora collectors, especially with the planned assortment expansion.”

Same-store sales at Jared declined 2.7 percent year-on-year in the third quarter. Total sales at constant exchange rates grew 2.2 percent to $232.5 million.

Pandora closed 116 unbranded stores -- mainly independent jewelers -- during the third quarter, mostly in the U.S. The overall number of points of sale in the Americas was cut by 212, or 6 percent, to 3,124, compared with the third quarter last year.

Tags: Jared, Pandora, Rapaport News, retail, Signet, Signet Jewelers, u.s.
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