Specialty jewelry retailer Signet Jewelers said on Wednesday that it would acquire its smaller rival Zale Corporation in a deal that significantly expands its business in the United States. Signet, which is based in Bermuda, operates more than 1,400 stores in the United States under the Kay Jewelers and Jared the Galleria of Jewelry brand names. It also operates about 500 stores in Britain under the brands H.Samuel and Ernest Jones. As part of the deal, Signet has agreed to pay $21 a share in cash for Zale's outstanding shares, or about $690 million. 

Hamilton, Bermuda -- Signet Jewelers Ltd. reported better-than-expected fourth-quarter results, helped by sales gains at its biggest division, Kay Jewelers. The company, which raised its quarterly dividend by 25%, said it anticipates opening 65 to 75 new...

Bermuda -- Signet Jewelers Ltd., whose brands include Kay Jewelers and Jared The Galleria of Jewelry, reported Wednesday that net income for the quarter ended Jan. 29 decreased 9% to $105.4 million, from $115.5 million a year earlier. Revenue for the period rose 6% to $1.27 billion from $1.2 billion, meeting Wall Street expectations. Same-store sales increased 8.1%.

Watch and accessories retailer Fossil Inc. is losing its President and Chief Operating Officer Michael Barnes. Barnes is departing the Richardson-based retailer to serve Bermuda-based Signet Jewelers Limited as chief executive officer.

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