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Zales Parent Company Buys Online Jeweler Blue Nile

  • CNBC, Thursday, August 11, 2022 9:11 PM

In a bid to appeal to younger customers and increase its bridal business, Signet Jewelers bought online jewelry retailer Blue Nile for $360 million in an all-cash deal. Separately, the parent company of Zales, Jared and Kay Jewelers cut its financial forecast for the second quarter and full-year fiscal 2023, saying it started to see softer sales in July as consumers reined in their spending amid inflation.

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