Profile: Signet Jewelers Limited (SIG)

Signet Jewelers Limited (Signet), formerly Signet Group plc, incorporated on January 27, 1950, is a specialty retail jeweler, with stores in the United States, United Kingdom, Republic of Ireland and Channel Islands. In the United States, as of January 31, 2009, Signet operated 1,401 stores in 50 states. Its stores trade nationally in malls and off-mall locations as Kay Jewelers (Kay), and regionally under a number of mall-based brands. Destination superstores trade nationwide as Jared The Galleria Of Jewelry (Jared). In the United Kinfdom, the stores trade as H.Samuel, Ernest Jones and Leslie Davis, and are situated in High Street locations (main shopping thoroughfares with high pedestrian traffic) or shopping malls. The United Kingdom division operated 558 stores, as of January 31, 2009, including 14 stores in the Republic of Ireland. The Company operates in two geographical segments: the United States division (approximately 76% of sales) and the United Kingdom division (approximately 24% of sales).

United States Division

As of January 31, 2009, Kay operated 926 stores in 50 states. Jared is an off-mall destination specialty retail jewelry chain, with 171 stores as of January 31, 2009. Jared targets an under-served sector at the upper end of the middle market. Every Jared store has an on-site design and repair workshop where most repairs are completed within one hour. The center also mounts loose diamonds in settings and provides a custom design service when required. Signet operates mall stores under a variety of regional trading names. The brands include JB Robinson Jewelers, Marks & Morgan Jewelers and Belden Jewelers. Nearly all of these stores are located in malls where there is also a Kay store and target a similar customer. As of January 31, 2009, 304 regional brand stores were operated in 37 states.

United Kingdom Division

During fiscal 2009, H.Samuel accounted for 13% of the Company’s sales. It serves the core middle market. The brand sells a range of gold and silver jewelry, diamond merchandise, and a selection of watches, including Accurist, Citizen, DKNY, Fossil, Rotary, Seiko and Sekonda. It also sells a range of gifts and collectables, such as Nao and Swarovski. As of January 31, 2009, H.Samuel had 352 stores, and is represented in large and medium-sized shopping centers.

During fiscal 2009, Ernest Jones accounted for 11% of Group sales. It serves the upper middle market. It sells a range of diamond and gold jewelry, as well as prestige watches, such as Breitling, Cartier, Longines, Omega, Rado, Raymond Weil, Rolex and Tag Heuer. It also sells fashion watches, such as Burberry, DKNY, Emporio Armani, Gucci, Hugo Boss and a range of traditional watches, including Accurist, Rotary, Seiko and Tissot. As of January 2009, Ernest Jones had 206 stores and is represented in all large shopping centers.