Signet Group PLC has announced that the possible
merger with Zale Corporation is not going ahead. This will end speculation about when the merger was to have taken place after protracted discussions.
UK based Signet confirmed a report in the
Financial Mail on Sunday that they were in talks about a possible merger with Zale, a US based
jewellery chain.
Signet has 1,837
jewellery stores in the UK and the US. In the UK signet has 591 stores
trading under the names of H Samuel, Ernest Jones and Leslie Davis. However 73 per cent of Signet’s annual group sales came from the 1,246 stores across the US under the trading names of Kay Jewelers, Jared the Galleria of Jewelery and other regional trading names.
Last week, Signet reported a 10 per cent increase in the first quarter pre-tax
profits, which was better than expected with a strong performance from the US side to offset any losses in the UK.
Link to this page
Copy and Paste the following HTML into your page.
