Sales reached $USD 2.35 billion ($AUD3.3 billion), at the upper end of the company’s forecast and consistent with the prior year. Same-store sales declined slightly; however, performance improved over the quarter and turned positive during the holiday season.
Signet Jewelers is the world's largest retailer of diamond jewellery. It owns Kay Jewelers, Zales, Jared, and James Allen, among others. Joan Hilson, Signet’s chief operating and financial officer, stated that the company uses broader promotions and discounts to manage sales and margins.
"We expect to deliver results in the upper half of our range, which included a pivot to broader promotions to meet consumer expectations resulting in a modest gross merchandise margin decline offset by further spend discipline," she said.
Full-year sales improved by approximately 1 per cent to $USD6.8 billion ($AUD9.5 billion), reaching the upper end of the forecast range. CEO J.K. Symancyk reported sequential monthly improvements.
"Our Grow Brand Love strategy delivered growth for the year, led by a sharper focus across Kay, Zales, and Jared, even amid unprecedented tariffs, record gold costs, and a measured consumer," he said.
"Sales momentum continued with a positive Valentine's Day performance with similar trends into March."
Additional details will be provided in the full report to be released on 19 March.
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