Retail
Searching for buried treasure
Why Sterling Jewelers Inc.’s Paula Catterall and Dale Stincic pursue continuous innovation
By Abby Cymerman
Smart Business Akron/Canton | September 2007
Consumers may not immediately recognize the name of U.K.-based Signet Group plc or its Akron-based U.S. division, Sterling
Jewelers Inc., but Sterling’s brands — mall-based Kay Jewelers
and Jared, the Galleria of Jewelry superstores — strike a familiar
chord with shoppers nationwide.
With 1,308 stores across all 50 states, Sterling is the largest specialty retail jeweler in the United States. Paula Catterall, the company’s senior director, and Dale Stincic, its vice president, say the
company has grown steadily over the past few years due to its
focus on outstanding customer service, depth of selection in merchandising, retail excellence and overall customer value. They say
that Sterling’s growth is driven by a commitment to brand-name
investments, trust and an aggressive store development program.
Catterall and Stincic understand that today’s retail customers
have high expectations. Shoppers want personal, expert advice
and service, and retail operations must meet and exceed those
needs to come out on top. Sterling prepares its employees for this
challenge through enhanced training, and its innovative merchandising system for supply chain management has been supported
by an upgrade in internal store communications.
Strategically planned real estate development has also fueled
Sterling’s growth, increasing total space of retail operations
through the opening of off-mall locations and investment in the
Kay outlet center and superstore concepts. The company also has
excelled in merchandising innovations, such as improved diamond sourcing, developing the right-hand ring promotions, and
the marketing of the Peerless Diamond and the Leo Diamond in its
Jared locations.
Marketing continues to be an area of investment and innovation
for Sterling. While other retailers have drifted from television
branding, Sterling has increased advertising spending on national
and local cable and network television. As a result, the company
has reaped great rewards, improving its brand awareness scores
and driving increased retail traffic into the stores.
Sterling’s managers say the company owes its success to its
competitive advantages in store operations, human resources,
real estate selection and development, merchandising, marketing,
and credit operations. These advantages are reflected in above-industry-average sales per store and operating profit margins.
HOW TO REACH: Sterling Jewelers Inc., (800) 743-4401 www.signetgroupplc.com
