Signet Jewelers Holiday Sales Increase. Shares Surge!

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Signet Jewelers (SIG) is the world’s largest retailer of diamond jewellery. The company is based in Bermuda and headquartered in Akron, Ohio, and is listed on the New York Stock Exchange.

Shares of Signet Jewelers soared today on a report that the company posted stronger than expected holiday sales and raised its fourth-quarter and fiscal 2020 guidance.

Holiday Season store sales were up 1.6% with North American same store sales up 2%. E-commerce sales were up 13.5% and brick and mortar same store sales were down 0.2%.

Fiscal 2020 Guidance

Signet Jewelers (SIG) raises same store sales up 0.1% with sales of $6.1 billion. Raises fiscal 2020 GAAP operating income from $179 – $189 million and non-GAAP operating income from $302 – $307 million. The company also raises fiscal 2020 GAAP diluted EPS to $1.70 – $1.86 and non-GAAP diluted EPS to $3.61 – $3.69.

CEO, Virginia Drosos, said in a statement “We delivered holiday same store sales growth ahead of our guidance as we continued to implement year two of our Path to Brilliance transformation. Product newness, investments in our digital capabilities, and more targeted marketing campaigns drove both eCommerce and brick and mortar growth in North America. I would like to sincerely thank our 30,000 team members, whose dedication and customer focus enabled our strong execution this holiday season and positive revision to our Fiscal 2020 guidance.”

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