Signet Operations

Signet is the largest specialty retail jeweler in the US, UK and Canada. Signet’s results derive from the retailing of jewelry, watches and associated services. The business is managed as three operating divisions: the Sterling Jewelers division in the US, the UK Jewelry division, and the Zale division, which operates in the US and Canada.

Signet’s sales are seasonal, with the first quarter slightly exceeding 20% of annual sales, the second and third quarters each approximating 20% and the fourth quarter accounting for almost 40% of annual sales, with December being by far the most important month of the year

In Fiscal 2016, the average number of full-time equivalent persons employed was 29,057. In addition, Signet usually employs a limited number of temporary employees during its fourth quarter. None of Signet’s employees in the UK and less than 1% of Signet’s employees in the US and Canada are covered by collective bargaining agreements. Signet considers its relationship with its employees to be excellent.

Fiscal 2016 Fiscal 2015 Fiscal 2014

Average number of employees: (1)

 

Sterling Jewelers

16,140

16,147

14,829

Zale (2)

9,309

9,241

n/a

UK Jewelry

3,370

3,292

3,104

Other (3)

238

269

246

Total

29,057

28,949

18,179

  1. Full-time equivalents (“FTEs”).
  2. Includes 1,585 FTEs employed in Canada.
  3. Includes corporate employees and employees employed at the diamond polishing plant located in Botswana. n/a Not applicable as Zale division was acquired on May 29, 2014.