Soon, Signet will move its primary stock exchange listing to the New York Stock Exchange and may attract more investors to an already strong base. Signet who, you ask? They are known best as the operators of the Kay Jewelers chain and Jared The Galleria of Jewelry stores in the United States.

For Signet, sales trends in the United States are a bit different from those in the United Kingdom, according to the company. Predictably, U.S. sales peak around the year-end holidays, Valentine’s Day and Mother’s Day, though British shoppers are not keen jewelry buyers for the latter two holidays . Also, U.S. consumers are more into buying anniversary jewelry and upgrading engagement rings throughout the year. In the UK? Not so much.

These days, the greatest difference between jewelry brands may be the shopping experience and not necessarily the value of the diamonds their customers covet. (Of course, you need cash to buy those earrings, to begin with.) 

If you have a few thousand in hand and could do with an upscale, luxurious shopping experience, walk into a Tiffany or Harry Winston store. If those dollars are sparse, but you still want to try on those earrings before buying them, there are the Kay and Zale stores for you. But if you want that peaceful, easy feeling, (i.e. spend zilch on gas and avoid crowds) – open a new Web page and shop online. 

Online shopping has become critical, even for jewelers. But not all of them have realized the importance of an inviting Web site. Tiffany has revamped its Web site. Blue Nile, on the other end, has no stores and sells its jewelry purely online. 

Signet? About 55 percent of their stores are in malls, while their online retail sales are not significant, according to the jeweler. The company is still seeing its shoppers head to stores for baubles and they are willing to pay a premium for in-store service.

Signet derives about 75 percent of its sales from the United States and has a strong investor base here — explaining the primary listing move to the NYSE, scheduled to take effect on Sept. 11. The company  intends to keep a secondary listing in London.

(Photo of eclipse: Reuters)

Check Out lower quarterly results at Neiman Marcus — the latest in a string of results proving that high-end stores are running into the same trouble as their lower-tier peers.  

The company, known for its namesake and Bergdorf Goodman stores, said on Wednesday that quarterly sales fell almost 1 percent to $1.06 billion, while net profit fell nearly 7 percent to $55.4 million.

Less than a month ago, upscale department store operator Nordstrom reported lower profit and sales, citing a challenging retail environment — a sign that luxury retail, considered more insulated from economic volatility, may not be fully immune, as rich but increasingly wary consumers witness skyrocketing gasoline and food prices, and plummeting homes values.

Even Saks reported a lower-than-expected profit last month, as markdowns hurt gross margins.

Also in the basket:

Smucker to buy Folgers from P&G for $3 billion

Williams-Sonoma posts lower quarterly profit

Corporate Express to open books for Staples bid: paper

U.S. retailers expected to post scant May sales

More U.S. retailers victims of organized crime - survey

Kingfisher aims to revive B&Q in tough markets

(Photo: Reuters)

(Note: Neiman Marcus results links to release on Business Wire)

No, really. That is what Tiffany executives must think, looking at the sea of tourists at its fabled flagship store on 5th Avenue in Manhattan.

Eclipsing a 4-percent drop in same-store sales in its other stores, the New York store posted a 16-percent rise.

Thanks to those tourists, U.S. same-store sales in the quarter for Tiffany didn’t slip into the red.

The jeweler, best known for its classic designs and the robin-blue box, is now thinking that its U.S. sales will start to look up later than expected, and is, instead, looking to markets like Europe and the Asia-Pacific region, other than Japan, for good fortunes.

A company spokesman said sales grew at most price points — right from $500 to $50,000 and above with no meaningful differences. Only items selling below $500 experiences some softness, Mark Aaron said.

The company says brand new items are in the making — those will range from diamond jewelry in its Metro collection and additions to its Swing and Victoria collections. There will also be new charms, including ones in platinum and diamonds in various design motifs. 

Just as well. David Schick of Stifel Nicolaus thinks shaky economic times might actually sway people’s thinking in Tiffany’s favor.

“I think Tiffany’s brand and the classic design is also perhaps coming into vogue.  Perhaps the uncertainty out there in the world is helping people look towards Tiffany as ‘there is a classic value in buying Tiffany jewelry’,” he said.

(Photo: Reuters)
 

The U.S. economy’s funk is felt even in the luxury temples of fashion, the CEO of Barneys New York says.

 ”The economic downturn, unfortunately, is going to affect everybody,” Chief Executive Howard Socol told Reuters at the cocktail party launch of Donatella Versace’s menswear line at the Barneys New York store at 61st and Madison.

Known for cutting-edge fashion, Barneys is the first department store to exclusively offer Versace’s menswear 2008 collection. Previously, the line was available only in Versace boutiques.

 ”For 4-1/2 years, we’ve been in the mega-double digits,” Socol said, referring to percentage gains in sales growth. “Now we’re happy with single digits.”

The price of gasoline may not affect Barneys customers, he said. But even fashionistas will spend more carefully when the stock market is rocky, Wall Street lays off droves of people  and the national debate is over whether the U.S. economy has entered a recession.

 That’s where Barneys’ ability to lure top designers like Donatella Versace could work some retail magic. Ditto for creating buzz.

 The paparrazzi swarmed the store’s Madison Avenue entrance on Tuesday night when Donatella — in a tight black leather dress and dangerously high heels — vogued and vamped in the windows showcasing her clothes. 

 When asked about life under the new owner Istithmar, a Dubai-based investment company, Socol said, “It’s not been that different than when we were under Jones. They let us do our own thing. They let Barneys be Barneys.”

 As for the designer herself, Donatella Versace took a minute during the cocktail party to talk about why she chose Barneys for the department store launch of her menswear line.

“I always come to Barneys to shop. I love this store, especially the beauty department,” she said over the din of rock and roll spun by DJ Kiss on Barney’s third floor. “Everything at Barneys is unique.” 
   

(Photo courtesty of Versace)