Signet Jewelers has reported a decrease in sales in the third quarter of 2025 fiscal year by 3.1% to $1.3 billion year on year.
Revenue dropped 3% year on year to $1.35 billion in the three months that ended November 2, the US retailer reported. Net profit slid 40% to $7 million.
The results were within expectations, management said. The year-on-year decline in same-store sales eased to 0.7%, compared with a drop of 3.4% in the second fiscal quarter. The average transaction value in the US was flat compared with a year earlier.
"The Signet team delivered Q3 results within our expectations, reflecting a nearly 3-point sequential improvement in same store sales,” said Joan Hilson, Signet’s COO and CFO.
“Our updated Fiscal 2025 guidance reflects further integration challenges in Blue Nile and James Allen, leadership transition costs, and the accretive impact from the early completion of preferred shares redemption.”
America’s largest diamond retailer narrowed its sales forecast to a range of $6.74 billion to $6.81 billion for the current fiscal year, which ends in late January 2025, compared to $6.66 billion to $7.02 billion previously.
Theodor Lisovoy, Managing Editor, Rough&Polished
