Signet Buys Online Jewelry Retailer

AKRON, Ohio (News Talk 1480 WHBC) – With consumer spending down, an Akron-based firm is going where people are spending their money.

Signet Jewelers announced it is purchasing online jewelry retailer Blue Nile for $360 million.

Analysts say young and affluent customers of Blue Nile fit the top tier of stores like Jared.

The company also said it is lowering its outlook for the year.