On the heels of David’s Bridal, the largest seller of wedding dresses declaring bankruptcy last week, another big seller of symbols of enduring love, like rings, disclosed that their business has not yet recovered from Covid-19. According to Signet Jewelers, the largest jewelry company in the United States, the pandemic dented sales of engagement rings as relationships faltered or never even blossomed in the first place due to the lockdowns.
And it’s vital for Signet’s business, because 50% of the company’s merchandise sales come from the bridal segment. “As people begin getting back out after the lockdowns, we monitored the return of dating…. Dating, in fact, is up 8% to pre-Covid.” It doesn’t mean engagements will suddenly rebound overnight, but that the potential is promising for a coming pickup in engagements. “We’re confident in the turn that’s coming,” she said. Signet Jewelers CEO Virginia C.