Signet Jewelers Limited Announces Sales for the Nine Weeks Ended January 5, 2019; Revises Earnings Guidance for the Fourth Quarter and Full Year of Fiscal 2019
January 17, 2019 at 11:50 am
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Signet Jewelers Limited announced its sales for the nine weeks ended January 5, 2019 (Holiday Season). Total same store sales performance decreased 1.3% year over year, inclusive of a positive impact of approximately 90 bps related to incremental clearance and a positive impact of 40 bps due to planned shifts in timing of promotions at Zales and Peoples. Total sales were $1,835.4 million.
The company revised earnings guidance for the fourth quarter and full year of fiscal 2019. For the quarter, the company now expects to report same store sales (excluding impact of revenue recognition changes) down 1.6% - down 2.5%, total sales in the range of $2.14 billion to $2.16 billion and GAAP diluted EPS in the range of $2.32 to $2.53 compared to the previous guidance of same store sales (excluding impact of revenue recognition changes) down 1.5% to up 1.0%, total sales in the range of $2.17 billion to $2.22 billion and GAAP diluted EPS in the range of $3.02 to $3.33 same period.
For the full year of fiscal 2019, the company now expects to report same store sales (excluding impact of revenue recognition changes) approximately flat, total sales in the range of $6.24 billion to $6.26 billion and GAAP diluted LPS in the range of $8.16 to $7.93 compared to the previous guidance of same store sales (excluding impact of revenue recognition changes) flat to up 1.0%, total sales in the range of $6.26 billion to $6.31 billion and GAAP diluted LPS in the range of $7.40 to $7.07 same period.
Signet Jewelers Ltd is a Bermuda-based holding company. The Company is a retailer of diamond jewelry. Its segments include North America, International and Other. The North America segment operates across the United States and Canada. Its United States stores operate nationally in malls and off-mall locations, as well as online, principally as Kay (Kay Jewelers and Kay Outlet), Zales (Zales Jewelers and Zales Outlet), Jared (Jared The Galleria Of Jewelry and Jared Vault), Diamonds Direct, Banter by Piercing Pagoda, Rocksbox, and digital banners, James Allen and Blue Nile. Its Canadian stores operate as Peoples Jewellers. The International segment operates stores in the United Kingdom, Republic of Ireland and Channel Islands, as well as online. Its stores operate in shopping malls and off-mall locations principally under the H. Samuel and Ernest Jones banners. Other segment consists of subsidiaries involved in the purchasing and conversion of rough diamonds to polished stones.
Signet Jewelers Limited Announces Sales for the Nine Weeks Ended January 5, 2019; Revises Earnings Guidance for the Fourth Quarter and Full Year of Fiscal 2019