FinancialsDec 05, 2024
Signet Jewelers’ Q3 Sales Slide Amid Slow Engagement Ring Sales, Tech IssuesFinancialsJan 14, 2025
Signet Jewelers Lowers Q4 Guidance After Holiday Sales Fall Short
The peak selling days leading up to Christmas did not meet the jewelry retailer’s expectations.
A selection of rings available at Signet-owned banner Kay Jewelers. Signet Jewelers lowered its fourth-quarter guidance following lackluster holiday sales.
Akron, Ohio—Signet Jewelers’ holiday performance fell short of expectations, leading the company to lower its guidance for the fourth quarter.
The retailer, which is the parent company of several large jewelry store chains including Zales, Jared, and Kay Jewelers, shared details Tuesday morning about its preliminary sales for the 10 weeks ending Jan. 11, though it did not provide an exact dollar amounts.
“Our holiday results of approximately -2% SSS [same-store sales] reflect peak selling days leading up to Christmas that were below forecast,” said Joan Hilson, chief financial and operating officer.
Engagement ring and service sales met expectations and the jeweler did see merchandise average unit retail (AUR) increase in bridal and fashion jewelry.
Merchandise AUR, which is calculated by dividing same-store sales revenue by same-store sales units, was up 5 percent compared with last holiday season, despite a drop in in-store traffic and lower conversion rates.
However, sales of fashion jewelry, a popular choice for holiday gifting, underperformed, said Hilson, noting consumers were looking for deals even more than Signet had anticipated this holiday season, and the retailer did not have enough lower-priced jewelry to meet their needs.
“Merchandise assortment gaps at key gifting price points impeded our ability to meet that trend,” she said.
Its merchandise margin improved, but it was less than expected due to a lower mix of fashion jewelry and a “stronger customer response to promotional items.”
Related stories will be right here …
The retailer, which is the parent company of several large jewelry store chains including Zales, Jared, and Kay Jewelers, shared details Tuesday morning about its preliminary sales for the 10 weeks ending Jan. 11, though it did not provide an exact dollar amounts.
“Our holiday results of approximately -2% SSS [same-store sales] reflect peak selling days leading up to Christmas that were below forecast,” said Joan Hilson, chief financial and operating officer.
Engagement ring and service sales met expectations and the jeweler did see merchandise average unit retail (AUR) increase in bridal and fashion jewelry.
Merchandise AUR, which is calculated by dividing same-store sales revenue by same-store sales units, was up 5 percent compared with last holiday season, despite a drop in in-store traffic and lower conversion rates.
However, sales of fashion jewelry, a popular choice for holiday gifting, underperformed, said Hilson, noting consumers were looking for deals even more than Signet had anticipated this holiday season, and the retailer did not have enough lower-priced jewelry to meet their needs.
“Merchandise assortment gaps at key gifting price points impeded our ability to meet that trend,” she said.
Its merchandise margin improved, but it was less than expected due to a lower mix of fashion jewelry and a “stronger customer response to promotional items.”
In response to its lackluster holiday results, Signet has lowered its guidance for the fourth quarter of fiscal 2025.
It now expects total quarterly sales of $2.32 billion to $2.34 billion, down from its prior guidance of $2.38 billion to $2.46 billion.
Same-store sales are expected to be down between 2 and 2.5 percent, compared with its prior guidance of flat to 3 percent growth in same-stores sales.
Its adjusted operating income is expected to be $337 million to $347 million, down from $397 million to $427 million, while its adjusted EBITDA is expected to be $381 million to $391 million, down from its prior guidance of $441 million to $471 million.
New CEO J.K. Symancyk said that while there were positives to be found in its holiday performance, the retailer has the opportunity to adjust its consumer-facing strategies, particularly in marketing, product design, and assortment innovation.
“I see meaningful potential to unlock shareholder value through the strength of both our brand portfolio and financial foundation,” said Symancyk.
“We can build on our industry-leading position in bridal while dramatically accelerating our reach into the larger fashion categories of self-purchase and gifting to drive sustainable organic growth.”
More on Financials
The Latest
CollectionsJul 08, 2025
Mikimoto’s High Jewelry Collection Turns Pearls into PetalsThe “Les Pétales” collection imagines roses caught mid-bloom as a tribute to nature’s beauty.
ColumnistsJul 08, 2025
Peter Smith: Why Jewelers Struggle With Premium PricingLuxury brands charge thousands for their shoes and handbags. Jewelers pricing diamond products should take note, Peter Smith writes.
IndependentsJul 08, 2025
David Rotenberg of David Craig Jewelers Dies at 79Rotenberg was an active member of the American Gem Society and an accomplished appraiser who also worked with therapy dogs at a hospital.
Brought to you by
Investing in the Next Generation of Bench JewelersThe Seymour & Evelyn Holtzman Bench Scholarship from Jewelers of America returns for a second year.
TechnologyJul 08, 2025
‘Diamond Divas’ Brings the Showroom to Social Media Reality SeriesIt follows New York-based brand Shahla Karimi Jewelry’s all-women team in “Say Yes to the Dress” meets “The Office”-style episodes.
Weekly QuizJul 02, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Policies & IssuesJul 08, 2025
SMO Gold Launches New FoundationIn its inaugural year, the SMO Foundation will focus on supporting two organizations in West Africa and one in South America.
Policies & IssuesJul 07, 2025
Higher Tariffs Set to Take Effect Aug. 1, Officials SayThe announcement comes just as the 90-day freeze on the “reciprocal” tariffs nears its end, giving countries more time to negotiate.
Brought to you by
Jewelers of America is Headed to Las Vegas for JCK 2025The countdown is on for the JCK Las Vegas Show and JA is pulling out all the stops.
MajorsJul 07, 2025
Natural Diamond Council CEO David Kellie To Step DownKellie, who joined the organization in 2019, will remain in his role through the end of 2025.
CrimeJul 07, 2025
7 Suspects Charged in California Jewelry Store BurglaryPolice officers apprehended the suspects as they were allegedly attempting to gain entry into another jewelry store.
Events & AwardsJul 07, 2025
Applications Open for Ella Klein Internship The program, a collaboration between Julius Klein Diamonds and the Women’s Jewelry Association, is in its second year.
Supplier BulletinJul 03, 2025
Protect Your Customers and Your BusinessSponsored by the Gemological Institute of America
MajorsJul 03, 2025
Brilliant Earth Names Tennis Star Madison Keys as Its New AmbassadorThe 2025 Australian Open champion is the jewelry brand’s first athlete ambassador.
MajorsJul 03, 2025
Muse Sets Up Shop in Nordstrom’s New Jewelry HallThe West Village jewelry boutique’s new shop-in-shop is the cornerstone of Nordstrom’s revamped jewelry hall.
SourcingJul 03, 2025
SRK Announces Its Natural Diamonds Are Now Carbon-NegativeThis past year, the manufacturer said it recorded below-zero emissions per carat of natural diamond.
CollectionsJul 03, 2025
Piece of the Week: A Firework of Diamonds From YepremThe brand’s “Golden Strada” statement necklace features round, marquise, and pear diamonds that sparkle like Fourth of July fireworks.
CrimeJul 03, 2025
JSA Shares Holiday Weekend Security Tips Amid Spike in BurglariesJSA’s Scott Guginsky provided a list of nine security measures jewelers should observe while locking up for the long weekend.
MajorsJul 02, 2025
Boucheron Looks to LA for First West Coast FlagshipLocated on Rodeo Drive, the store’s design was inspired by Hollywood and Los Angeles culture.
MajorsJul 02, 2025
Marco Bicego Opens Milan FlagshipThe new location continues the brand’s celebration of its 25th anniversary.
WatchesJul 02, 2025
Chrono24 Revamps Brand, Launches New CampaignThe online watch marketplace’s “Time Is Our Thing” campaign highlights the importance of time.
SourcingJul 02, 2025
Bernadette Mack Joins Gem Legacy as Executive DirectorShe will oversee strategic planning, fundraising, industry partnerships, and the launch of the Gem Legacy Campus in Tanzania.
CrimeJul 02, 2025
Pandora, Amazon Partner to Uncover Counterfeit Jewelry NetworkWorking with Amazon’s Counterfeit Crimes Unit and law enforcement, Pandora helped to shut down a large-scale counterfeit network in China.
MajorsJul 01, 2025
Cast Closes Business, Plans for RelaunchThe jewelry company has closed its three California brick-and-mortar stores, as well as its online shop, for now.
Events & AwardsJul 01, 2025
William Goldberg Diamonds, FIT Partner for Apprenticeship ProgramThe company is providing the opportunity for an FIT student to work alongside master diamond cutter Willie Lopez in its workshop.
IndependentsJul 01, 2025
Elie Hannoush, Founder of Hannoush Jewelers, Dies at 73He is remembered for his successful entrepreneurship, generosity, and dedication to his family.
MajorsJul 01, 2025
Claire’s Is Looking for a Buyer, Report SaysThe jewelry store chain has reportedly been struggling with costs related to tariffs as well as tough retail competition.
TrendsJul 01, 2025
Amanda’s Style File: Red Hot RubiesWelcome warm summer days with red hot rubies perfectly chosen as July’s birthstone.
