Signet Jewelers Limited recorded an increase in cost of sales by 5.76 % year on year, relative to one quarter ago cost of sales fell by -26.68 % in Q1.
Signet's raw material costs are affected by fluctuations in the prices and supply of natural and lab-grown diamonds, gold, and other precious and semi-precious metals and stones. The company procures diamonds, gemstones, and precious metals both as part of finished jewelry costs and through its diamond sourcing operations. Signet purchases loose polished diamonds globally, including from India and Israel, sourcing from polishers and traders. As a sightholder with De Beers, Signet obtains natural rough diamonds based on contractual allocations and also contracts with suppliers for lab-grown rough diamonds. Natural rough diamonds are cut and polished at Signet's factory in Gaborone, Botswana, while lab-grown diamonds are processed at third-party factories primarily in India. Signet sells stones not used internally to third parties on the open market and seeks to advance vertical integration to secure reliable diamond supplies and improve supply chain efficiencies.
Signet Jewelers Limited's Comment on Supply Chain
Signet's raw material costs are affected by fluctuations in the prices and supply of natural and lab-grown diamonds, gold, and other precious and semi-precious metals and stones. The company procures diamonds, gemstones, and precious metals both as part of finished jewelry costs and through its diamond sourcing operations. Signet purchases loose polished diamonds globally, including from India and Israel, sourcing from polishers and traders. As a sightholder with De Beers, Signet obtains natural rough diamonds based on contractual allocations and also contracts with suppliers for lab-grown rough diamonds. Natural rough diamonds are cut and polished at Signet's factory in Gaborone, Botswana, while lab-grown diamonds are processed at third-party factories primarily in India. Signet sells stones not used internally to third parties on the open market and seeks to advance vertical integration to secure reliable diamond supplies and improve supply chain efficiencies.
Sources:
Signet Jewelers Limited's official press releases and regulatory filings; CSIMarket.com's supply-chain research; and the financial filings and press releases of other companies cited in this report.
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