Yuval Braverman joins Zale Board
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Zale Corporation, a leading specialty retailer of fine jewelry in North America, has elected Mr. Yuval Braverman to its Board of Directors, effective June 19, 2008.
Braverman, 52, is currently the Chairman and Chief Executive Officer of J. & J. Zaidman, Inc. a diamond wholesaler.
Mr. Braverman co-founded J. & J. Zaidman, Inc. in 1981. [...]
Novori, Zale launches ESQ
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Novori Inc., which has recently collaborated with Zalemark Inc., announces that the Hearst Brand Development and Zalemark are celebrating modern sophistication with the introduction of the new ESQ Jewelry Collection. This Collection was launched at the Couture Jewelry Show in Las Vegas, NV and was very well received by all.
The introduction of the line [...]
Harry’s 1Q fiscal 2009 results
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Harry Winston Diamond Corporation reported first quarter results for the period ending April 30, 2008. The Company recorded an increase in consolidated sales for the quarter of 10%, generating an 18% increase in gross margin and a 10% increase in consolidated earnings from operations compared to the results of the first quarter of the prior [...]
Signet reports 1Q results
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Signet Group plc, the world’s largest speciality retail jeweller, announces its first quarter results for the 13 weeks from 3 February to 3 May 2008.
Total sales rose by 1.0% to $822.5 million (13 weeks to 5 May 2007: $814.4 million). Like for like sales decreased by 2.5%. Group profit before tax was down by 24.0% [...]
Vaaldiam updates on Candle Lake
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Harry Winston Diamond Corporation reported first quarter results for the period ending April 30, 2008. The Company recorded an increase in consolidated sales for the quarter of 10%, generating an 18% increase in gross margin and a 10% increase in consolidated earnings from operations compared to the results of the first quarter of the prior [...]
Movado announces 1Q results
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Movado Group, Inc. announced first quarter results for the period ended April 30, 2008.
Net sales in the first quarter of fiscal 2009 were $101.4 million. Fiscal 2008 first quarter net sales of $101.4 million included $2.7 million of sales of excess discontinued product. Excluding the sales of discontinued product, net sales increased 2.7% from last [...]
Finlay reports 1Q results
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Finlay Enterprises, Inc., a leading retailer of fine jewelry operating luxury stand-alone specialty jewelry stores and licensed fine jewelry departments in department stores throughout the United States, announced its financial results for the first quarter of fiscal 2008. Results from the prior year period ended May 5, 2007 exclude from continuing operations the results from [...]
Vaaldiam updates on Candle Lake
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Novori Inc., a leading online interactive retailer of fine diamond engagement rings and jewelry, announces, pursuant to the upcoming merger with Zalemark Inc., the appointment of Steven Zale as a member of the Board of Directors of Novori Inc.
Steven Zale brings with him nearly three decades of jewelry industry experience. Mr. Zale has an [...]
Zale’s stock repurchase program
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Zale Corporation, a leading specialty retailer of fine jewelry in North America, announced that its Board of Directors has authorized an increase of $50 million in the Company’s stock repurchase program.
The new $50 million authorization brings the total authorized to $350 million for fiscal 2008. The Company, fiscal year-to-date, has repurchased 13.8 million shares, at [...]
Richemont restructuring proposals
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In November 2007, Richemont announced that it was studying plans which might lead to a separation of its luxury goods operations from its other interests, which include its investment in British American Tobacco plc (BAT).
Richemont has conducted an extensive review of potential alternatives open to the Group in anticipation of the elimination of Luxembourg 1929 [...]
Zale reports EPS loss
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Zale Corporation, a leading specialty retailer of fine jewelry in North America, today reported a net loss from continuing operations for the third quarter of fiscal 2008 of $17.4 million, or $0.42 per share, compared to a loss of $5.0 million, or $0.10 per share for the third quarter of fiscal 2007.
In February, Zale [...]
Novori to merge with Zalemark
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Novori Inc., a leading online interactive retailer of fine diamond engagement rings and jewelry, has entered into an agreement with intent to merge with Zalemark Inc. The merger, which is subject to negotiation and execution of binding definitive documents, satisfaction of certain conditions precedent, approval by Novori shareholders and other ordinary and customary closing conditions [...]
HSBC’s diamond banking unit in UAE
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The extensive campaign by Dubai Multi Commodities Centre (DMCC) to promote diamond banking activities in Dubai has begun to produce positive results with HSBC establishing a diamond banking unit to finance the local and regional diamond trade.
Jean Van der Donckt, Director, Diamond Finance, DMCC, said, diamond trade in the UAE has witnessed tremendous growth in [...]
GIA’s 18th Jewelry Career Fair
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The Gemological Institute of America (GIA) has announced the date of its 18th Jewelry Career Fair in New York to be Friday, July 25, 2008 and held at the Jacob Javits Center. The event brings together the jewelry industry’s most distinguished leaders, influential executives and visionaries to successfully bridge the gap between leading companies looking [...]
DMCC signs MoU with GAC
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Dubai Multi Commodities Centre (DMCC), has announced the signing of a memorandum of understanding (MoU) with the Gems & Jewellery Trade Association of China (GAC), a national association of the gems and jewellery trade, approved by the Ministry of Civil Affairs of Peoples Republic of China (PRC), for increased cooperation towards the mutual growth and [...]
FUQI reports 1Q 2008 results
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FUQI International, Inc. has announced financial results for the first quarter ended March 31, 2008.
Revenues for the first quarter of 2008 increased 177% to $77.6 million from $28.0 million in the first quarter of 2007, due to increases in sales volumes and selling prices.
Gross profit in the first quarter of 2008 increased 175% to $8.8 [...]
Jovella 2008 in Tel Aviv
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Jovella 2008, the international jewelry exhibition in Tel Aviv which will be held on July 1 – 3, 2008, will feature a seminar on forecasting trends in the jewelry industry, by renowned experts Paola De Luca and Paolo Novembri of the TJF Group. The seminar, which will be open to international jewelry manufacturers, designers and [...]
Macy’s to open three new stores
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Macy’s, Inc. announced plans to open three new Macy’s stores in the Phoenix market within the next two years. In April 2009, a 120,000 square-foot, one-level store will open at SanTan Village in Gilbert, AZ. In fall 2010, a 120,000 square-foot, one-level store is expected to open at Estrella Falls in Goodyear, AZ, and a [...]
Signet’s like for like sales
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Signet Group plc, the world’s largest speciality retail jeweller, today announced its sales performance for the 13 weeks to 3 May 2008.
Group like for like sales declined by 2.5% in the first quarter. Total sales were up by 1.0% on a reported basis to $822.3 million (13 weeks to 5 May 2007: $814.4 million) [...]
Kohl’s reports April store sales
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Kohl’s Corporation reported today that sales for the four-week period ended May 3, 2008 increased 12.0 percent over the four-week period ended May 5, 2007. On a comparable store basis, sales increased 3.5 percent.
For the combined March/April period, total sales increased 0.4 percent and comparable store sales decreased 7.7 percent. For the quarter ended May [...]