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Oct 31, 2020
Signet Q3 2021 Earnings Report
Signet reported strong sales growth in Q3 driven by Path to Brilliance execution and OmniChannel growth.
Key Takeaways
Signet Jewelers reported a strong third quarter with total sales of $1.3 billion, up 9.5% year over year. Same store sales increased by 15.1%, and eCommerce sales grew by 71.4%. The company's Path to Brilliance strategy and investments in technology and talent have enabled it to capture pent-up demand and drive early holiday shopping.
Q3 same store sales increased by 15.1%.
eCommerce sales grew by 71.4% year over year.
GAAP earnings per share was $0.02, including pre-tax restructuring and impairment charges of $0.14.
Non-GAAP diluted EPS was $0.11.
Signet
Signet
Signet Revenue by Segment
Signet Revenue by Geographic Location
Revenue by Segment
Other Revenue
CapyFin.comRevenue by Geographic Location
North America Revenue
CapyFin.comInternational Revenue
CapyFin.com Forward Guidance
Through November 30, fourth quarter to date preliminary SSS were up approximately 3% to last year. The Company is not providing financial guidance at this time and believes COVID-related issues will have a more significant negative effect in December vs. November.
Challenges Ahead
- Weak retail store traffic trends.
- COVID social distancing capacity constraints.
- Store closures due to virus trends.
- SSS for the Thanksgiving weekend through Monday were down low single digits.
- The Company believes SSS could be negatively impacted in December as a result of weaker retail store traffic trends, COVID social distancing capacity constraints, and store closures due to virus trends.