Signet Jewelers delivers strong 4Q results

Signet Jewelers Limited ("Signet"), the world's largest retailer of diamond jewelry, announced its results for the 13 weeks ("fourth quarter Fiscal 2021") and 52 weeks ("Fiscal 2021") ended January 30, 2021. Total sales in the fourth quarter were $2.2 billion, an increase of 1.5% to last year. Same store sales ("SSS") grew 7.0%. eCommerce sales increased 70.5% to last year and were 23.4% of sales. Brick and mortar SSS were down 4.2%. Signet's total sales for the year were $5.2 billion. This is $910.2 million, or 14.8%, lower to the prior year on a reported basis and 14.9% lower on a constant currency basis. Total SSS decreased 10.8% year-over-year. eCommerce sales were $1.2 billion, up 57.9% year over year. eCommerce sales accounted for 22.7% of sales, up from 12.2% of sales in the prior year. Brick and mortar SSS declined 21.3%."Our company today is stronger: we're more innovative, efficient, and digitally advanced. We are capitalizing on our momentum as we move into the next phase of our growth strategy called 'Inspiring Brilliance.' It is focused on winning in our big banners, categories and countries; accelerating Services revenue; broadening our mid-market with expansion in the Accessible Luxury and Value segments; and accelerating Digital Commerce, all with an emphasis on leading innovation in the jewelry industry and growing the scope of Signet's market," said Virginia C. Drosos, Chief Executive Officer.

Alex Shishlo for Rough&Polished