Signet Jewelers (SIG) Announces Holiday Sales Results

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January 14, 2025 7:09 AM EST

Signet Jewelers Limited (“Signet” or the "Company") (NYSE: SIG), the world's largest retailer of diamond jewelry, today announced its preliminary sales for the ten weeks ended January 11, 2025 (“Holiday”) and provided updated guidance for fourth quarter of fiscal year 2025.

"Our holiday results of approximately -2% SSS reflect peak selling days leading up to Christmas that were below forecast. Engagement and Service sales were within expectations and we saw AUR increase in both Bridal and Fashion. However, fashion gifting underperformed as consumers gravitated to lower price points even more than anticipated in a continued competitive environment. Merchandise assortment gaps at key gifting price points impeded our ability to meet that trend,” said Joan Hilson, Chief Financial and Operating Officer. “Merchandise margin expanded, but less than expected due to the lower fashion mix and a stronger customer response to promotional items. These dynamics are reflected in our updated guidance.”

“While there were positives in the underlying business performance during Holiday, I believe we have the opportunity to reshape our customer facing strategies in the areas of marketing, product design, and assortment innovation. I see meaningful potential to unlock shareholder value through the strength of both our brand portfolio and financial foundation. We can build on our industry leading position in bridal while dramatically accelerating our reach into the larger fashion categories of self-purchase and gifting to drive sustainable organic growth,” said J.K. Symancyk, Chief Executive Officer.

Holiday Fiscal 2025 Sales Highlights

  • Total SSS(1) decreased approximately 2% to last year
  • Merchandise Average Unit Retail (“AUR”)(2) increased approximately 5% on lower traffic and conversion

(1)

Same store sales (“SSS”) include physical stores and eCommerce sales. Holiday SSS has been calculated by aligning the sales weeks of the current period to the equivalent sales weeks in the prior fiscal year period.

(2)

AUR reflects same store sales revenue divided by same store sales units

Updated & Prior Fourth Quarter Fiscal 2025 Guidance:

Updated Fourth Quarter

Prior Fourth Quarter

Total sales

$2.320 to $2.335 billion

$2.38 to $2.46 billion

Same store sales

(2.5%) to (2.0%)

Flat to 3%

Adjusted operating income (1)

$337 to $347 million

$397 to $427 million

Adjusted EBITDA (1)

$381 to $391 million

$441 to $471 million

(1)

See description of non-GAAP financial measures below.

Forecasted adjusted operating income and adjusted EBITDA exclude potential non-recurring charges, such as restructuring charges, asset impairments or integration-related costs. However, given the potential impact of non-recurring charges to the GAAP operating income, we cannot provide forecasted GAAP operating income or the probable significance of such items without unreasonable efforts. As such, we do not present a reconciliation of forecasted adjusted operating income or adjusted EBITDA to corresponding forecasted GAAP amounts.


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