How did we know Kay, Jared & Zales Jewelers were going into Review??

Steve’s breakdown: Simple. We have contacts throughout the industry who talk to us. And it happens more than you think because we usually don’t talk about our “human sources”. (and that’s the way they like it)

So next time you see a post like the one we published in December (see below) ya just might want to get into gear because no one else is reporting on the review. Nobody!!

FAIRLAWN, OH & IRVING, TX: Fairlawn’s Signet Jewelers Ltd. has engaged three new agencies to help boost its marketing and advertising after its sales slumped and Signet’s stock took a severe beating in recent months.

The company announced it has hired the New York-based cable and communications firm MediaCom “to oversee all media planning and buying for its four U.S. banners: KayJaredZales and Piercing Pagoda.”

It also has engaged Florida’s Zimmerman as its new creative agency for its Kay Jewelers stores to “help apply its strategic focus and retail experience to build on the iconic Kay brand and help return it to market-leading growth.”

Finally, Signet announced it has engaged the New York advertising firm Badger & Winters “to develop its Zales brand platform and extend it into integrated advertising and digital campaigns.”

Signet has struggled with sales of late. Following two years of wrangling with consumer and employee complaints — plus, the company still is dealing with a shareholder lawsuit over its consumer credit business — Signet announced Jan. 17 that it was cutting its earnings guidance for the quarter that would end Feb. 2, from expected earnings of $4.08 per share for the quarter to earnings of $3.92 or less. It said a decline in per-store sales was contributing to the decrease. It will release final numbers when it reports on its fiscal year in March.

That announcement sparked a decline of nearly 25% in Signet’s stock price that day, as it closed at $25.13.

It was only the culmination of a long slide, though. Signet had been trading at more than $60 a share in October after briefly topping $65 per share last September.

The new agencies will improve the company’s outreach and market position, Signet chief marketing officer Bill Brace said.

“Our new partners will optimize our promotional effectiveness as we continue to build our Culture of Agility and Efficiency as part of our Path to Brilliance transformation plan,” Brace said in a news release. “They will strengthen our banner positionings to better meet customers’ needs through improved precision marketing, particularly in digital channels.”

The new partners also are promising results.

“We believe Kay will grow because we will help them sell more jewelry to more people, and also because we will work together to help customers understand the importance of sharing love and gratitude with the people who mean the most to them,” Zimmerman CEO Michael Goldberg said in Signet’s release. “We will not rest or stop working until they achieve the growth they deserve.”

Source:

Zales, Jared, Kay & Sterling Jewelers in Review

 

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