Signet Completes Acquisition of Ultra Stores
November 02, 12
 |
Ultra Stores is a leading jewelry retailer with sales in its most recent fiscal year of approximately $140 million. Ultra operates 102 stores in outlet centers and another 38 through other formats, primarily licensed jewelry departments.
The acquisition is expected to add $40- to $45 million to Signet’s fiscal 2013 fourth quarter sales and to have minimal impact to the period’s earnings, including acquisition-related costs. The transaction is anticipated to add to earnings by the fourth quarter of Signet’s fiscal 2014, including acquisition and integration costs.
"We are pleased to complete the acquisition of Ultra stores,” said Michael Barnes, CEO of Signet. “We expect Ultra to allow us to broaden our customer reach, build upon our market leadership position in specialty jewelry retail, and make Signet one of the leading jewelry players in the growing outlet channel. We look forward to working with our new team members as we continue to drive our competitive strengths for the future."