Signet Jewelers, despite facing a decline in revenues, reported positive results in North America, where over 90% of its revenue originates, with sales down 7.1%. The company expects a continued decline in engagements for the rest of the year due to disruptions in dating behavior caused by the pandemic. Signet also made a significant acquisition, acquiring SJR National Retail, a jewelry and watch repair company, for $6 million, opening the door for Signet to provide business-to-business repair services to independent jewelers, potentially creating a $1.2 billion opportunity in the services sector.
