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Gerald Ratner Steps Down as Head of Jewelry Chain: Ratner was forced to step down as chairman of Ratners, Britain’s largest jewelry chain, after disappointing Christmas sales and plunging share prices. Ratner, once described as the man with the Midas touch, saw his cut-rate jewelry empire wither after he made a speech last spring in which he belittled one of his firm’s products. Financial analysts said Ratner had overexpanded his jewelry chain, which included the H. Samuel, Ernest Jones, Zales and Salisbury stores in Britain, and Kay and Sterling in the U.S.