Signet Q4 Sales +5.1% To $2.39bn

Solitaire - - SPECTRUM -

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.”

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