News Bureau

Signet eCommerce sales up by 11.4% YoY

Signet Jewelers Limited, the world's largest retailer of diamond jewellery, announced its results for the 13 weeks ended November 2, 2019, that is 3Q FY 2020. According to the report, same-store sales (SSS) remained up by 2.1%. Net cash provided by operating activities of $113.5 million years to date and free cash flow of $18.2 million years to date.

According to the Fiscal 2020 Guidance, Fiscal 2020 same-store sales down 1.7% to down 1.0% and total sales of $6.01 billion, compared with previous of $6.05 billion. Fiscal 2020 GAAP operating income of $147 - $167 million and non-GAAP operating income of $270 - $280 million. Fiscal 2020 GAAP diluted EPS of $1.21 - $1.52 and non-GAAP diluted EPS of $3.11 - $3.292.

"We delivered positive same-store sales and improved profitability year over year and ahead of our guidance as we continued to drive our Path to Brilliance transformation,” said Virginia C. Drosos, Chief Executive Officer.

 “As we approach the key selling weeks ahead, we are focused on successfully executing our customer-inspired holiday plans featuring new on-trend merchandise, enhanced eCommerce capabilities, and more relevant and targeted marketing campaigns. Our financial guidance embeds the progress we have seen year to date balanced with our expectation for a competitive retail holiday environment."

Overall 3Q 2020, Financial Highlight says, Signet's total sales were $1.19 billion, down 0.3%, in the 13 weeks ended November 2, 2019, on a reported basis and up 0.2% on a constant currency basis. Total same-store sales grew 2.1% year-over-year.

eCommerce sales were $139.3 million, up 11.4% year over year. eCommerce sales accounted for 11.7% of sales, up from 10.5% of total sales in the prior-year quarter. Brick and mortar same-store sales grew by 0.9%. North America payment plan participation rate, including both credit and leasing sales, was 52.4% versus 53.3% in the prior-year third quarter.

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