Signet因商店销售改善、前景光明而振作起来

Improving same store sales and an upbeat outlook for the remainder of the year fueled a 15% rally in shares of Signet Jewelers Limited (NYSE:SIG) in Thursday’s premarket trading.

“Our strategy to accelerate new merchandise at the right price points is capturing customer demand and driving merchandise margin expansion,” said Signet CEO Virginia Drosos. “Both the internal and external metrics we track indicate increasing engagements as we head into the back-half of the year. This combined with growth in new high margin fashion merchandise and services gives us confidence in delivering our annual guidance,” she added.

The Bermuda-based jeweler continued to see contracting same store sales but at a slower pace from a year ago. Comparable sales were down 3.4% in Q2 compared to -12% in the same quarter last year and down 8.9% from Q1. A profit of $1.25 per share was down from $1.55 per share a year ago but improved by $0.14 from the previous quarter and beat the Street consensus estimate by $0.04. Sales were down 7.5% to $1.49B, missing estimates by $10M. Gross margin, however, expanded by 10 basis points to 38.0% of sales.

North American sales were down 6.9% along with a 3.7% decline in same store sales, while international sales fell 15.2% but same store sales were up 1.7% from the same quarter last year.

For the current quarter, Signet (SIG) expects sales to be between $1.345B to $1.380B with top-line guidance above the $1.35B estimate. Same store sales are expected to be within the range of down 1.0% to up 1.5%, and adjusted EBITDA of $55M to $72M.

For FY25, the company expects to earn a profit between $9.90 and $11.52 per share on sales of $6.66B to $7.02B. This compares to the consensus estimates of $10.28 per share on $6.77B in sales. Same store sales are expected to be down 4.5% to up 0.5%, and adjusted EBITDA of $780M to $685M.  

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