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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.
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