Signet Q4 Sales +5.1% To $2.39bn
Signet Jewelers, the world's largest retailer of diamond jewellery, said its total sales for the fourth quarter that ended January 30 were $2.39 billion, up 5.1% versus a year ago. Same store sales increased 4.9%, driven primarily by diamond fashion jewellery. E-commerce sales in the fourth quarter were $166.3 million, up 11.2%:
Sterling Jewelers' same store sales increased 5.0%. The average transaction value increased 6% and the number of transactions decreased 2.3%, owing to strong sales of diamond fashion jewellery.
Zale Jewelry's same store sales increased 4.4%, and the average transaction value increased 6.2%, while the number of transactions decreased 2.1%. This was driven principally by strong sales of diamond fashion jewellery and bridal jewellery. Strong sales of 14-karat gold and diamond jewellery were responsible for Piercing Pagoda's same store sales increase of 6.4%.
Signet’s UK same store sales increased 4.7%. The average transaction value increased 3.7% and the number of transactions increased 1.1%, mainly due to heavy demand for diamond jewellery and prestige watches.
Signet’s annual total sales of $6.55 billion increased 14.2% year-on-year. In the twelve-month period, same store sales increased 4.1%
Mark Light, chief executive officer of Signet Jewelers, said, “Signet had an excellent finish to another strong year with annual sales of $6.55 billion and comp sales growth of 4.1%. Once again, we delivered strong top and bottom line growth with results driven by product innovation, targeted marketing, and supported by delivering superior customer service by the best store teams in retail. These and many other competitive strengths such as a diversified real estate portfolio, customer finance programmes, and custom jewellery and repair continue to position Signet in the long term as a profitable growth company in the speciality retail sector.
“The integration of Zale continues to go well, and we remain confident in our recently raised synergies. We see an expanded and accelerated level of financial contribution from the deep pipeline of initiatives our teams are working on to unleash the long-term potential of a fully integrated Signet. We remain committed to maintaining profitable growth while balancing investment back into the business with shareholder return.”