Shares of the specialty jewelry retailer — parent to the Kay Jewelers, Zales, Jared, H.Samuel, Ernest Jones, Peoples Jewellers, Piercing Pagoda and Jamesallen.com brands — closed up 6.10 percent Thursday to $41.39 a piece after the company revealed strong e-commerce sales during the recent holiday season. The company updated its current quarter guidance as a result.
“Despite considerable macro hurdles, the Signet team delivered strong holiday performance — an achievement that demonstrates the power of our multiyear Path to Brilliance transformation strategy and the agility, innovation and determination of our people,” Virginia C. Drosos, chief executive officer of the company said in a statement.
During WWD’s virtual summit in October, Jamie Singleton, president of the Kay Jewelers, Zales and Peoples divisions of Signet Jewelers Ltd., said jewelry shopping hasn’t slowed amid quarantine. In fact, consumers continued to purchase commemorative pieces for major life events, like birthdays, graduations and engagements — even if they had to celebrate online.
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