Sterling Jewelers facts for kids
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| Subsidiary | |
| Industry | Retail |
| Founded | August 14, 1910 |
| Founder | Henry Shaw |
| Headquarters | 375 Ghent Road, , |
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Number of locations
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1,586 stores (Feb. 2018) |
| Products | Jewelry |
| Revenue | US$3.82 billion (2017) |
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Number of employees
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13,901 (Feb. 2018) |
| Parent | Signet Jewelers |
| Divisions |
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Sterling Jewelers, Inc. is a large American company that sells jewelry. Its main office is in Fairlawn, Ohio, a suburb of Akron, Ohio. The company started a long time ago, in 1910. It was founded by a man named Henry Shaw.
Today, Sterling Jewelers is owned by a bigger company from the United Kingdom called Signet Jewelers. Signet bought Sterling in 1987. Sterling Jewelers runs many different jewelry store brands that you might see in shopping malls.
Contents
Company History
Sterling Jewelers is part of Signet Jewelers, a company that owns jewelry stores all over the world. They have stores in the United States, the United Kingdom, Canada, and other places. Signet owns many different store brands, including Kay Jewelers, Zales, and Jared.
By 2008, Sterling Jewelers was one of the biggest jewelry sellers in the United States. It had a large share of the market for specialty jewelers. This means that out of all the stores that only sell jewelry, Sterling's stores were very popular.
Growing the Company
Over the years, the parent company, Signet, has bought other jewelry companies to grow bigger.
- In 2014, Signet agreed to buy the Zale Corporation. This was a big deal that brought two major jewelry companies together.
- In 2017, Signet also bought R2Net. R2Net is the owner of JamesAllen.com, a popular website for buying jewelry online.
Helping a Good Cause
Since 2009, Sterling Jewelers has supported St. Jude Children's Research Hospital. The company has given a lot of money to help the hospital. This money helps with building new facilities, patient care, and important research to help sick children.
Customer Service Issues
In 2019, Sterling Jewelers made a payment to settle a disagreement with the Consumer Financial Protection Bureau, a U.S. government agency. The agency had concerns about how the company was signing customers up for store credit cards.
The company stated that it did not agree with the agency's findings. However, it agreed to the settlement to resolve the issue.
Store Changes
In April 2019, Sterling Jewelers announced it would close 150 of its stores. Most of these stores were in shopping malls that were not very busy. Some were also closed because another store from the same company, like a Kay and a Zales, was already in the same mall.
