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
Policies & IssuesFeb 24, 2026
IEEPA Tariffs Terminated, New 10% Tariff Already ImposedAfter the Supreme Court struck down the IEEPA tariffs, President Trump imposed a 10 percent tax on almost all imports via a different law.
IndependentsFeb 24, 2026
Sherry Smith Now Principal Partner at The Retail SmithsThe industry veteran, who was with The Edge Retail Academy for 14 years, joins her husband at the company he founded in 2022.
IndependentsFeb 24, 2026
Yafa Signed Jewels to Open Store in MiamiThe vintage signed jewelry retailer chose Miami due to growing client demand in the city and the greater Latin American region.
Brought to you by
DCA Enters a New Chapter in Jewelry EducationWith refreshed branding, a new website, updated courses, and a pathway for growth, DCA is dedicated to supporting retail staff development.
WatchesFeb 24, 2026
Chrono24 Names New VP, U.S. General ManagerFormer Flight Club executive Jin Lee will bring his experience from the sneaker world to the pre-owned watch marketplace.
Weekly QuizFeb 19, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
SourcingFeb 23, 2026
Designer Eddie Sakamoto, a Humble Artist, Dies at 72Sakamoto, who died in mid-January following a sudden illness, is remembered for his humility and his masterful, architectural designs.
Events & AwardsFeb 23, 2026
NYCJAOS Announces Four-Day Spring ShowThe April event will feature a new VIP shopping day requiring a special ticket.
Brought to you by
The MJSA Mentor & Apprenticeship Program: Attracting & Training the Next Generation of Bench JewelersLaunched in 2023, the program will help the passing of knowledge between generations and alleviate the shortage of bench jewelers.
TrendsFeb 23, 2026
Dua Lipa Is Bulgari’s New AmbassadorBulgari chose the British-Albanian singer-songwriter for her powerful and enduring voice in contemporary culture, the jeweler said.
Policies & IssuesFeb 20, 2026
Supreme Court Rules Against Most of President Trump’s TariffsIn a 6-3 ruling, the court said the president exceeded his authority when imposing sweeping tariffs under IEEPA.
ColumnistsFeb 20, 2026
Peter Smith: Happiness, Cavemen, and Jewelry SalesSmith encourages salespeople to ask customers questions that elicit the release of oxytocin, the brain’s “feel-good” chemical.
MajorsFeb 20, 2026
Jewelers Vigilance Committee Names Julie Yoakum Board ChairJVC also announced the election of five new board members.
CollectionsFeb 20, 2026
Boucheron’s ‘Faisceaux’ Brooch Heads to V&A MuseumThe brooch, our Piece of the Week, shows the chromatic spectrum through a holographic coating on rock crystal.
IndependentsFeb 19, 2026
Bailey’s Fine Jewelry Co-Founder ‘Mama Ann’ Bailey Dies at 100Raised in an orphanage, Bailey was 18 when she met her husband, Clyde. They opened their North Carolina jewelry store in 1948.
IndependentsFeb 19, 2026
Material Good Opens Third Location Material Good is celebrating its 10th anniversary as it opens its new store in the Back Bay neighborhood of Boston.
Events & AwardsFeb 19, 2026
The Original Miami Beach Antique Show Returns in MarchThe show will be held March 26-30 at the Miami Beach Convention Center.
AuctionsFeb 18, 2026
Joanna Carson’s Jewels Head to AuctionThe estate of the model, philanthropist, and ex-wife of Johnny Carson has signed statement jewels up for sale at John Moran Auctioneers.
PodcastsFeb 18, 2026
Episode 2: Jewelry Trends & Does the Red Carpet Matter?Are arm bands poised to make a comeback? Has red-carpet jewelry become boring? Find out on the second episode of the “My Next Question” podcast.
MajorsFeb 18, 2026
Select Jewelry Inks Agreement to Distribute Lightweight Gold JewelryIt will lead distribution in North America for Graziella Braccialini's new gold pieces, which it said are 50 percent lighter.
Policies & IssuesFeb 18, 2026
Community for Ethical Jewelry Looks for Executive DirectorThe organization is seeking a new executive director to lead it into its next phase of strategic growth and industry influence.
Events & AwardsFeb 18, 2026
DCA to Host Gemstone Selling Education Session at IJO EventThe nonprofit will present a live, two-hour introductory course on building confidence when selling colored gemstones.
TrendsFeb 17, 2026
A Bit of Jewelry for the Year of the HorseWestern wear continues to trend in the Year of the Fire Horse and along with it, horse and horseshoe motifs in jewelry.
SourcingFeb 17, 2026
Colored Gemstone Experts Talk Tariffs, Trends in TucsonAlthough the market is robust, tariffs and precious metal prices are impacting the industry, Stuart Robertson and Brecken Branstrator said.
GradingFeb 17, 2026
Dr. George Rossman, Former GIA Governor, Dies at 81Rossman, who advised GIA for more than 50 years, is remembered for his passion and dedication to the field of gemology.
CrimeFeb 13, 2026
JSA Offering $10K Reward in Nancy Guthrie Case Guthrie, the mother of “Today” show host Savannah Guthrie, was abducted just as the Tucson gem shows were starting.
IndependentsFeb 13, 2026
97-Year-Old New Mexico Jewelry Store To CloseButterfield Jewelers in Albuquerque, New Mexico, is preparing to close as members of the Butterfield family head into retirement.
CollectionsFeb 13, 2026
A ‘Rosebud’ Necklace for Valentine’s DayPaul Morelli’s “Rosebud” necklace, our Piece of the Week, uses 18-karat rose, green, and white gold to turn the symbol of love into jewelry.
