Signet Q3 2021 Earnings Report
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
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.