Financials

Signet Jewelers Lowers Q4 Guidance After Holiday Sales Fall Short

FinancialsJan 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.

Woman wearing rings on both hands
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 … 

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.” 

The Latest

Jewelers of America 20 Under 40 graphic
Events & AwardsFeb 11, 2025
JA Seeking Nominations for Its Next ‘20 Under 40’ Class

Now in its fourth year, the program is expanding to include a list of “20 Under 40” for jewelry suppliers.

Police cars with lights on
CrimeFeb 11, 2025
2 Men Charged With Selling Stolen Jewelry, Watches in NYC Diamond District

One of the men is said to be connected to the South American crew charged with burglarizing Cincinnati Bengals QB Joe Burrow’s home.

Peter Smith
ColumnistsFeb 11, 2025
Peter Smith: 9 Store Manager Archetypes

Smith details the types of store managers he’s encountered, with the goal of helping retailers find a person who’s a fit for their store.

Top Image.png
Brought to you by
3 Ways to Capitalize on America’s Newfound Love of Colored Gems

Colored stones are stepping into a jewelry spotlight typically reserved for diamonds—are you ready to sell color?

Bulgari x MB&F Serpenti watch
WatchesFeb 11, 2025
Bulgari, MB&F Launch Reimagined ‘Serpenti’ Watch

The brands immersed one of Bulgari’s most famous historical icons in MB&F’s ultra-mechanical universe of haute horlogerie.

Weekly QuizFeb 06, 2025
This Week’s Quiz
Test your jewelry news knowledge by answering these questions.
Take the Quiz
Midas Chain Diamond and Gemstone Jewelry
MajorsFeb 11, 2025
Midas Chain Releases First Diamond Collection

The jewelry manufacturer has launched more than 100 pieces made with natural diamonds.

Tacori Stilla ring
SurveysFeb 10, 2025
Jewelry Resilient in 2024 Even As Luxury Sales Slipped, Says Bain & Co.

Bain & Co.’s latest report on the luxury market examines why the market’s customer base is shrinking and how to appeal to consumers in 2025.

Resolutions - 2025.jpg
Brought to you by
3 New Year’s Resolutions for Jewelry Lovers

The new year feels like a clean slate, inspiring reflection, hope, and the motivation to become better versions of ourselves.

Counterfeit Cartier “Juste Un Clou” bracelet
CrimeFeb 10, 2025
Counterfeit Jewelry Kept Kentucky Customs Agents Busy in January, CBP Says

Officers in Louisville seized 28 shipments of fake jewelry and watches that would have been worth more than $27 million if genuine.

Hearts On Fire Inside Out Collection Bracelets
CollectionsFeb 10, 2025
Hearts on Fire Flips Jewelry ‘Inside Out’ in New Collection

The collection centers on the art of tailoring, inspired by designs that feature folded fabrics, such as a tuxedo lapel.

JW Marriott Hotel in Nashville Tennessee
Events & AwardsFeb 10, 2025
Select Jewelry Show Heads to Nashville

The trade show has added a new location to its fall line-up.

Jade Trau Ladybird Charm
CollectionsFeb 07, 2025
Piece of the Week: Jade Trau’s ‘Ladybird’ Charm

From the brand’s latest collection of lucky charms, the ladybird is seen as a bearer of good fortune and a ward against negative energy.

Rough diamonds from De Beers’ Gahcho Kue diamond mine in Canada
SourcingFeb 07, 2025
De Beers’ Production Guidance Slashed, Anglo Anticipates Another Writedown

The moves come amid a prolonged period of lower demand for diamonds, particularly in China.

Stuller Bench Jeweler Workshop
Events & AwardsFeb 07, 2025
Registration Opens for Stuller’s Bench Jeweler Workshop

The workshop returns in March, along with the “Battle of the Benches” mini challenge series.

Windsor Jewelry in Indianapolis, Indiana
IndependentsFeb 06, 2025
106-Year-Old Jewelry Store Saved by New Owners

Two attorneys purchased Windsor Jewelry, which was set to close, and will retain all existing staff at the downtown Indianapolis store.

Two images of Adam Heyman in Sri Lanka
MajorsFeb 06, 2025
Oscar Heyman Employee Celebrates 60 Years With the Company

Adam Heyman joined the family business in 1965, just weeks after graduating from Columbia Business School.

De Beers Jewellers Embrace Bracelet
CollectionsFeb 06, 2025
De Beers Jewellers’ New High Jewelry Pays Homage to the Beauty of Trees

The “Essence of Nature, Chapter One” collection echoes trees and roots, literally and figuratively, through three sets of high jewelry.

Hamilton Jewelers Worth Avenue interior
IndependentsFeb 06, 2025
Hamilton Jewelers Revamps Palm Beach Boutique

The fourth-generation, family-owned jeweler has given its Worth Avenue store a new look.

Stock image of a gavel
CrimeFeb 05, 2025
‘The Timepiece Gentleman’ Sentenced to 5-Plus Years Behind Bars

Luxury watch dealer Anthony Farrer pleaded guilty late last year to defrauding clients in a scheme with Ponzi-type elements.

Seal & Scribe “Freedom Moon” Ring
TrendsFeb 05, 2025
Amanda’s Style File: Feeling Fabulous in February

Celebrate February birthstones and the gem shows in Arizona this month with a versatile stone like amethyst.

Diamond Council of America logo
MajorsFeb 05, 2025
DCA Promotes Kristen Scheetz to Director of Education, Membership

Scheetz has been with the nonprofit since 2007.

Trucks at the Orapa diamond mine in Botswana
SourcingFeb 04, 2025
New Deal With Botswana Is Done, De Beers Confirms

The agreement will allocate an increasing proportion of the country’s rough diamonds to the government of Botswana over the next decade.

Van Clef & Arpels Diane (Diana) Clip
Events & AwardsFeb 04, 2025
Van Cleef & Arpels’ Astronomy-Inspired Jewelry to Land at AMNH

“Cosmic Splendor: Jewelry From the Collections of Van Cleef & Arpels,” opens April 11 at the American Museum of Natural History.

Chocolate box ring by Mined + Found
SurveysFeb 04, 2025
Valentine’s Day Jewelry Spending Forecast to Hit Record High, Says NRF

Those celebrating Valentine’s Day this year are expected to spend a record $27.5 billion on jewels, flowers, candy, and more.

Lady Gaga Tiffany & Co.  necklace worn to the 2025 Grammys
EditorsFeb 03, 2025
Best Jewelry Moments From the 2025 Grammy Awards

From Lady Gaga’s 1930s Tiffany & Co. necklace to Taylor Swift’s “T,” Michelle Graff recaps the night’s most memorable jewelry looks.

HSN+ QVC+ logos on a television, laptop, and phone screen
MajorsFeb 03, 2025
Qurate to Close HSN’s Florida HQ Amid Restructuring

Layoffs will reportedly start next month as HSN plans to move into QVC’s location in Pennsylvania.

Jewelry designer Lauren Harwell Godfrey looking at colored gemstones
EditorsFeb 03, 2025
Q&A: 5 Jewelry Designers on Shopping the 2025 Tucson Gem Shows

A group of creatives talked to Associate Editor Lauren McLemore about their approach to the annual Tucson gem, mineral, and fossil shows.

×

This site uses cookies to give you the best online experience. By continuing to use & browse this site, we assume you agree to our Privacy Policy