Signet Raises Guidance After Strong Holiday Sales
The jewelry giant’s holiday season revenue was up 30 percent year-over-year.

The jewelry giant’s preliminary total sales for the nine weeks ending Jan. 1 clocked in at $2.4 billion, up 30 percent year-over-year.
Same-store sales were up 25 percent year-over-year and 35 percent on a two-year basis.
Holiday e-commerce sales were up $52.1 million year-over-year while brick-and-mortar sales were up nearly $500 million. Signet did not share the percentage change year-over-year.
All banners and merchandise categories posted double-digit growth, Signet said, and were supported by increased marketing and labor spend.
“We’re driving strong traction on our key initiatives including our differentiated banner value propositions and a step change in ‘Connected Commerce’ capabilities, allowing us to serve customers whenever and wherever they choose to shop with us,” said CEO Virginia C. Drosos in a press release about the preliminary results.
Signet has bolstered its e-commerce capabilities since the start of the pandemic, driving higher conversion rates and transaction values with the help of its virtual selling team.
It also upped its shipping capacity ahead of the holiday season and blended its in-store and online shopping experiences by introducing Buy Online Pick-Up In Store (BOPIS) and curbside delivery services.
In North America, revenue totaled $2.2 billion, up 30 percent year-over-year and up 33 percent on a two-year basis.
Same-store sales were up 25 percent year-over-year and up 38 percent on a two-year basis.
Signet includes physical and e-commerce sales in same-store sales, but not sales stemming from the newly acquired Diamonds Direct.
E-commerce sales in the region were up 18 percent year-over-year and up 85 percent on a two-year basis.
Brick-and-mortar sales were up 34 percent year-over-year and up 25 percent on a two-year basis.
The number of transactions were up 8 percent year-over-year while the average transaction value was up 16 percent.
The international segment reported a rise in revenue and strong brick-and-mortar sales but struggled in e-commerce.
International revenue was up 31 percent year-over-year to $144 million, but down 4 percent on a two-year basis. Same-store sales were up 31 percent year-over-year and up 6 percent on a two-year basis.
E-commerce sales in the region sank 26 percent year-over-year but were up 43 percent compared with two years ago. Brick-and-mortar sales soared 70 percent year-over-year but fell 12 percent on a two-year basis.
The number of transactions climbed 27 percent year-over-year while the average transaction value was up 2 percent.
The company upped its fiscal guidance given its positive holiday performance, noting the growth has continued into January with sales in the high single digits, which it said is reflective of shifts due to earlier customer shopping in the quarter.
Fourth quarter revenue is expected to total $2.77 billion, up from its prior guidance of revenue between $2.4 billion and $2.48 billion.
Same-store sales for the quarter are expected to reach 22 percent, far exceeding its prior guidance of 6 to 9 percent.
Full-year revenue is expected to be $7.78 billion with same-store sales of 48 percent, up from its prior guidance of revenue between $7.41 billion and $7.49 billion with same-store sales of 41 to 43 percent.
“We delivered operating margin expansion as our strategy drove higher traffic and strong conversion with effective promotion and cost management,” said Chief Financial and Strategy Officer Joan Hilson.
The company also announced a $500 million expansion to the remaining $184 million available under its existing share repurchase program.
It will enter a $250 million accelerated share repurchase agreement and leave the remaining $434 million under its multi-year program.
The Latest

“Shell Auranova” is the next generation of the brand’s bridal line, featuring half-bezel engagement rings with bold and fluid designs.

Designer Deborah Meyers created her birds from oxidized sterling silver, rose-cut diamond eyes, and Akoya Keshi pearl feathers.

The company said it expects sightholders to remain “cautious” with their purchasing due to all the unknowns around the U.S. tariffs.

Six new retail businesses were selected for the 2025 program, which began in January.

Sponsored by the Gemological Institute of America


Simon Wolf shares why the time was right to open a new office here, what he looks for in a retail partner, and why he loves U.S. consumers.

A third-generation jeweler, Ginsberg worked at his family’s store, Ginsberg Jewelers, from 1948 until his retirement in 2019.

The risk of laboratory-grown diamonds being falsely presented as natural diamonds presents a very significant danger to consumer trust.

The organization also announced its board of directors.

Charms may be tiny but with their small size comes endless layering possibilities, from bracelets to necklaces and earrings.

Located in Valenza, the now 355,000-square-foot facility includes a new jewelry school that’s open to the public, Scuola Bulgari.

Paola Sasplugas, co-founder of the Barcelona-based jewelry brand, received the Fine Jewelry Award.

A platinum Zenith-powered Daytona commissioned in the late ‘90s will headline Sotheby’s Important Watches sale in Geneva next month.

The basketball stars wear men’s jewelry from the “Curb Chain” collection.

The Signet Jewelers-owned retailer wants to encourage younger shoppers to wear fine jewelry every day, not just on special occasions.

The 21 pieces, all from a private collector, will be offered at its Magnificent Jewels auction next month.

Lilian Raji answers a question from a reader who is looking to grow her jewelry business but has a limited marketing budget.

GCAL by Sarine created the new role to sharpen the company’s focus on strategic partnerships and scalable expansion.

The Indiana jeweler has acquired Scottsdale Fine Jewelers in Scottsdale, Arizona.

“Cartier: Design, Craft, and Legacy” opened earlier this month at the Victoria and Albert Museum in London.

Van Cott Jewelers in Vestal, New York, is hosting a going-out-of-business sale.

Industry veteran Samantha Larson has held leadership roles at Borsheims, McTeigue & McClelland, Stuller, and Long’s Jewelers.
The two organizations will hold the educational event together this fall in Mississippi.

The entrepreneur and “Shark Tank” star will share his top tips for success.

The Ukrainian brand’s new pendant is modeled after a traditional paska, a pastry often baked for Easter in Eastern European cultures.

The jeweler has announced a grand reopening for its recently remodeled location in Peoria, Illinois.

The “Strong Like Mom” campaign features moms who work at Tiffany & Co. and their children.