FinancialsJan 18, 2022
December Retail Sales Slump, But Holiday Season Holds StrongFinancialsJan 20, 2022
Signet Raises Guidance After Strong Holiday Sales
The jewelry giant’s holiday season revenue was up 30 percent year-over-year.
Signet Jewelers had a merry and bright holiday season, with revenue up 30 percent to $2.4 billion year-over-year.
Akron, Ohio—Signet Jewelers upped its fiscal guidance following a strong holiday season.
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.
Related stories will be right here …
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.
More on Financials
The Latest
ColumnistsJun 03, 2026
Peter Smith: When Top Talent Leaves and What It Says About YouSmith discusses how managers should handle a top performer's exit, warning that a poor response could have a lasting impact.
GradingJun 03, 2026
GIA’s Tracr Investment Is First Step Toward Industry-Owned PlatformThe Gemological Institute of America is now a 30 percent stakeholder in Tracr, the De Beers-backed blockchain for diamonds.
WatchesJun 03, 2026
The 1916 Company Taking Pre-Owned Rolexes on the Road, AgainThe retailer is bringing Rolex Certified Pre-Owned watches to five U.S. cities in 2026 for collectors to see, try on, and purchase.
Brought to you by
All Eyes on Gold Prices. Alternatives to Look For. And What to BEWARE of in VegasAs gold prices rise, today’s retailers are looking for alternatives at prices that will appeal to wider audiences.
IndependentsJun 03, 2026
Jessica Alba Is the New Face of Gabriel & Co.The actress and entrepreneur stars in the jeweler’s new campaign that celebrates life’s quiet moments.
Weekly QuizMay 28, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
TrendsJun 03, 2026
State of Design: Only the Innovative Will SurviveThe price of gold has risen, affecting the number of pieces designers make, the materials they use, and how they position themselves.
SourcingJun 02, 2026
Leader Appointed for Botswana’s Diamonds for Development Fund Dr. Akinwumi Adesina, a development economist, will head the fund created to help Botswana diversify its economy.
Brought to you by
How Modern Training Is Becoming a Competitive Advantage for Jewelry RetailersWith the trade and customer trust in mind, GIA® developed NextGem™ – on-demand training designed specifically for retail.
WatchesJun 02, 2026
Watch Industry Veteran James Marks Joins Sotheby’sSotheby’s has appointed the former Phillips executive as its global head of private sales and retail in its watches division.
AuctionsJun 02, 2026
Sotheby’s to Auction 10-Carat Blue Diamond, 1960s Harry Winston Necklace A private collection of five Paraíba tourmalines also will be up for sale at Sotheby’s High Jewelry auction in New York, scheduled for June 16.
IndependentsJun 02, 2026
State of Retail: 6 Things Retailers Should Know About Consumers TodayFrom Gen Z’s view of luxury to “doom spending,” these are the six consumer trends to note this year.
Events & AwardsJun 01, 2026
Design Atelier Brands Have a Big Night at Emotional Couture Design AwardsThe show started by honoring Mildred Marcano, ended with a tearful Beth Anne Bonanno, and recognized a dozen-plus designers in between.
SourcingJun 01, 2026
RapNet Rebranding as Rapaport TradeThe revamped online diamond marketplace will feature pricing intelligence and data-driven tools for more efficient buying and selling.
SourcingJun 01, 2026
Gemfields’ Higher-Quality Emerald Auction Achieves $26.8MThe miner said demand for higher-quality emeralds is stable, but there is notable caution in the market.
CollectionsMay 29, 2026
Cultus Artem’s Necklace Is the Oasis in Las Vegas’ DesertThe “River of Heaven” necklace, our Piece of the Week debuting at Couture, combines 26 salt and pepper diamonds spaced by Tahitian pearls.
IndependentsMay 29, 2026
Meet the 2026 Retailer Hall of Fame InducteesThis year’s inductees include second-, third-, and fourth-generation jewelers.
Events & AwardsMay 28, 2026
JCK Announces Jesse Itzler as 2026 Keynote SpeakerThe author, speaker, and entrepreneur will give his presentation, “Spiritual Billionaire,” on Saturday morning.
Events & AwardsMay 28, 2026
JCK Rocks To Ride With NellyThree-time Grammy award-winning artist Nelly is set to perform at the annual event at Tao Beach on Sunday night.
MajorsMay 28, 2026
Signet Jewelers to Buy The Clear Cut Signet will integrate the online-only, natural diamond-focused jeweler into Blue Nile, which it wants to position as a higher-end retailer.
CollectionsMay 28, 2026
Meet The 17 Newcomers to Couture’s Design AtelierThese up-and-coming jewelry brands are bringing their distinct aesthetic and unique point-of-view to the Design Atelier for the first time.
GradingMay 28, 2026
GCAL By Sarine Launches 8X Cushion CutThe lab’s proprietary diamond cut grade has been expanded to include the popular fancy shape.
Events & AwardsMay 27, 2026
5 Security Tips for Las Vegas Jewelry Market Week 2026This year, it’s what could happen outside of show hours that worries JSA Executive Vice President Scott Guginsky.
ColumnistsMay 27, 2026
What Jewelers Can Learn From Luxury Fashion’s Digital PlaybookHigh-end fashion houses know how to emotionally connect with customers online. Retail jewelers should take note, Emmanuel Raheb writes.
Events & AwardsMay 27, 2026
Couture’s ‘The Iridescence’ Will Showcase 7 Emerging Jewelry DesignersThe designers are the third cohort of mentees from the show’s Belonging @ Couture mentorship program.
ColumnistsMay 26, 2026
The Key Mindset for Better Trade Show BuyingBuying discipline at trade shows starts with clarity about your inventory levels, Smith writes.
Events & AwardsMay 26, 2026
12 JCK Talks Sessions to Add to Your Las Vegas ScheduleThe trade show’s education series returns, with sessions on retail trends, AI, watches, marketing, corporate responsibility, and more.
Events & AwardsMay 26, 2026
CBG Brings Its Curated Designer Project to Las Vegas ShowThe Curated Designer Project has expanded to highlight eight independent jewelry designers during CBG’s Las Vegas show.
