Free Jewelers, the world’s largest maker of jewelry and accessories, will report $1,818 million in sales in the year ending June 30, the company said in a statement Tuesday.
The company, which has more than 4,000 stores in 34 countries, will also generate $9 million in profit on sales of $1 million or more in the first quarter of the year.
J.F. Jewelers and its subsidiaries will also sell products for other retailers and for private parties, the statement said.
“We believe our growth and success will come from the opportunity to grow our business through our partnership with retail partners and through our continued expansion in our home markets,” the statement added.
While the company has struggled to expand, its parent company J.J. Free has enjoyed a more solid hold on its share price over the past few years.
Its shares are up more than 40 percent since its record $26.40 opening on March 4, 2016, while its annual revenue rose 16.7 percent last year to $9.9 billion.
The company’s stock price has soared from $14.75 on the day the company filed for bankruptcy protection in March to more than $24 at press time.
Last year, J. F. Jewelry, which was founded in 1888 and is headquartered in New York, was the second-largest jewelry company in the United States behind Wal-Mart, according to Forbes.
AJF was founded by former Disney CEO and Disney board member Donald J. Trump.
It has been profitable since the company went public in 2002, according the company.
Its jewelry products range from watches and jewelry to jewelry for the bedroom, the office and the office accessories, and jewelry and other accessories for the home.