Regional Brands
Click to view our virtual store tour
Visit the JB Robinson retail website
Visit the Marks & Morgan retail website
Visit the Belden retail website
View a map showing the locations of the Regional chains.
Introduction
Signet also operates mall stores under a variety of established regional trading names. At January 30, 2010, 260 regional brand stores operated in 36 states (January 31, 2009: 304 stores in 37 states). The leading 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 the average sales per store is less than that of the Kay chain, and they do not have the leverage of national TV advertising, regional brand stores are more likely to be closed than Kay stores. Details of regional brands’ performance over the last five years are given below:
| Fiscal 2010 | Fiscal 2009 | Fiscal 2008 | Fiscal 2007(1) | Fiscal 2006 | |
| Sales (million) | $326.8 | $370.8 | $459.7 | $501.0 | $484.5 |
| Stores at year end | 260 | 304 | 351 | 341 | 330 |
(1) 53 week year
Regional brand sales for fiscal 2010 were $326.8 million (fiscal 2009: $370.8 million). The decrease in sales was due to store closures, a fall in the number of transactions, and a decrease in the average retail price of merchandise sold to $329 (fiscal 2009: $346), primarily reflecting changes in merchandise mix. Same store sales decreased by 4.0% during the year, but increased in the fourth quarter by 2.8%.
Sterling's regional brands are:
- JB Robinson Jewelers
- Marks & Morgan Jewelers
- Belden Jewelers
- Osterman Jewelers
- Shaw's Jewelers
- Weisfield Jewelers
- LeRoy's Jewelers
- Rogers Jewelers
- Goodman Jewelers
- Friedlander's Jewelers
Real Estate
The location and size of regional brand stores within a mall is similar to that of a Kay store, and consideration is given to changing a regional brand store to Kay where the overall return on capital employed, including any resulting impact on other stores operated by the US division, may be increased. In fiscal 2010, two regionally branded stores were converted to the Kay format (fiscal 2009: 14). New regional chain stores are opened only if real estate satisfying the US division’s investment criteria becomes available in their respective trading areas.
Customer Service and Merchandising
The same field operations, training and merchandising teams are responsible for the regional brands as manage the Kay stores.