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Phase one in its transformation plan, “Path to Brilliance,” was completed in fiscal 2022 ended December 31, 2021, and now it’s embarked on phase two “Inspiring Brilliance” with the goal to attain $9 billion in sales. If change is coming and it absolutely will, then Signet Jewelers would appear to have the most to lose, being ranked the nation’s number one jewelry retailer on the National Jeweler’s Superseller listing. It operates some 2,800 retail locations under its Kay, Zales, Jared, Diamonds Direct and Banter by Pierce Pagoda banners, plus DTC James Allen and Rocksbox jewelry rental, and more. Now with inflation running at a 40-year high, consumers are getting squeezed in all of the important areas, like meals, gasoline, utilities and housing. That leaves less for discretionary spending and jewellery is probably certainly one of the most discretionary of purchases. Since 2014, jewelry consumption superior from $59.1 billion to $62.three billion in 2020, some 5%, and jewellery retailer sales grew from $31.1 billion to $33.3 billion, a 7% increase.

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