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Signet Jewelers Limited (NYSE:SIG) reported sales fell 6.3% in FQ4 to $2.49B. Same-store sales were down 9.6% during the holiday quarter. Same-store sales were down 10.0% for the North America segment and were off 1.0% for the international segment. In North America, same-store sales were negatively impacted by approximately 1% from integration issues at the company’s Digital banners (James Allen and Blue Nile), which led to fulfillment issues in the second half of the quarter. The e-commerce channel at other banners was not impacted and outperformed Signet’s overall same-store sales pace. The quarter included the month of December, which typically has the most engagements in the U.S.
Operating margin improved to 16.4% of sales vs. 15.2% a year ago. EPS was $6.73 vs. $6.39 consensus and $5.52 a year ago.
Looking ahead, Signet Jewelers Limited (SIG) issued Q1 revenue guidance for $1.47B to $1.53B vs. $1.61B consensus. The company sees full-year revenue of $6.66B to $6.72B vs. $7.17B and EPS of $9.08 to $10.48 vs. $10.57 consensus. “As we look to Fiscal 2025, we are expecting sequential same store sales improvement over the year as engagements gradually recover,” noted CEO Virginia Drosos. “We believe we’re positioned to win new customers through our marketing personalization, growing consumer inspired product newness, and aggressive expansion of our service business,” added Drosos.
Shares of Signet Jewelers Limited (SIG) were down 5.49% in premarket trading on Wednesday to $96.83 vs. the 52-week trading range of $57.10 to $108.79.
