Headlines

Signet CEO: Short Sellers Launched a “Targeted Attack” At Us

Published

8 years ago

June 17, 2016

INSTORE Staff

Light says traders tried to lower stock value by publicizing diamond-swapping complaints

Signet Jewelers CEO Mark Light claims that short sellers launched a “targeted attack” to bring down the company’s stock price, according to a Bloomberg report cited by Rapaport. The article notes that Signet’s stock price has fallen by more than 20 percent since a recent Buzzfeed report quoted customers of Kay Jewelers, a Signet subsidiary, and alleged that their diamonds were swapped out for lower-quality gems. Light says that the short sellers led an “orchestrated campaign” to heighten the controversy, adding: “We have to make it right and get on top of social media to make sure that the other side of the story is told.”

Retiring? Let Wilkerson Do the Heavy Lifting

Retirement can be a great part of life. As Nanji Singadia puts it, “I want to retire and enjoy my life. I’m 78 now and I just want to take a break.” That said, Nanji decided that the best way to move ahead was to contact the experts at Wilkerson. He chose them because he knew that closing a store is a heavy lift. To maximize sales and move on to the next, best chapter of his life, he called Wilkerson—but not before asking his industry friends for their opinion. He found that Wilkerson was the company most recommended and says their professionalism, experience and the homework they did before the launch all helped to make his going out of business sale a success. “Wilkerson were working on the sale a month it took place,” he says. “They did a great job.”