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GE Lights-Up Riddle Jewelry

Zacks Equity Research

GE Lighting, a division of General Electric Company (GE), recently supplied Light Emitting Diodes (:LED) solutions to Riddle Jewelry store. GE’s LED lamps are energy efficient and will also add glitter to Riddle’s showrooms.

Riddle opened its first store in Webster, South Dakota, in 1959 and added many stores thereafter. Lighting plays a vital role at Riddle’s -- be it adding a subtle glitter to precious stones or creating the setting of an engaging atmosphere.

Riddle changed halogen bulbs in 57 locations with General Electric’s LED lamps. The replacement is expected to save 20% to 25% annually in its store lighting costs. GE Lighting already has long-standing business relationship with Riddle and the new deal is an extension of this. Riddle has witnessed lighting energy cost savings in the range of $100 and $150 a month in smaller stores and from $175 to $225 in larger stores where it has already used General Electric’s lamps.

General Electric’s new LED replacement lamps stay cooler than the halogen bulbs and there has been a noticeable decrease in the cooling demand on HVAC units in the store as well.

General Electric operates as a technology and financial services firm. Its segments include Energy Infrastructure, Aviation, Healthcare, Transportation, Home & Business Solutions and GE Capital. A global leader in the lighting industry, GE Lighting offers professional & consumer lighting solutions. Its innovative and new technologies such as fluorescents and LEDs are more efficient, cost effective and have lesser environmental impact.

General Electric currently has a Zacks Rank #3 (Hold). Other stocks that look promising and are worth a look now are Hutchison Whampoa Ltd. (HUWHY) and Federal Signal Corp. (FSS), both carrying a Zacks Rank #1 (Strong Buy), and ITT Corp. (ITT), which carries a Zacks Rank #2 (Buy).

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