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
SourcingJul 02, 2026
London Diamond Bourse Elects First Female PresidentCharlotte Rose said her election is “a sign that this is an industry capable of change.”
Supplier BulletinJul 02, 2026
Elevating Retail Showcases with Today's Necklace & Bracelet TrendsSponsored by Rio Grande Jewelry Supply
TrendsJul 02, 2026
Oscar Heyman’s Flag Brooch Celebrates AmericaThe American jewelry house, founded by Latvian immigrants, has been creating American flag brooches since 1917.
Brought to you by
Wedding Band Trends 2026: Personalization Takes Center StageColored gemstones, artisan finishes, mixed metals, and meaningful details are shaping demand in bridal jewelry.
IndependentsJul 02, 2026
D. Geller & Son Partners with KSU Art Students on Store MuralThe artwork celebrates the Atlanta jeweler’s legacy and symbolizes its commitment to supporting local artists and its community.
Weekly QuizJul 01, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Events & AwardsJul 02, 2026
Stratus Estate Buyers Offers Jewelers Turnkey Buying EventsIts team can evaluate jewelry and watches, as well as luxury handbags, artwork, and collectibles.
SurveysJul 01, 2026
Consumer Confidence Ticks Up in JuneFalling oil prices were a factor in the slight month-over-month improvement.
Brought to you by
Building the Future of Jewelry Retail: DCA Expands Education, Leadership Development, and Workforce SolutionsDCA is preparing the next generation of professionals by supporting workforce development, leadership growth, and career advancement.
CollectionsJul 01, 2026
Rio Grande Launches First Finished Bridal CollectionThe new offering comprises more than 120 bridal and engagement ring styles with natural and lab-grown diamonds.
WatchesJul 01, 2026
Rolex Unveils Clock at Rockefeller CenterThe clock is part of the celebration for the soon-to-open Rolex headquarters on New York City’s Fifth Avenue.
IndependentsJul 01, 2026
Kristen Cannon of Valobra Master Jewelers Dies at 49The public relations professional is remembered for her benevolent generosity and unwavering commitment to those around her.
WatchesJun 30, 2026
Pokémon Fans Will Want to Catch This New G-Shock WatchThe new watch commemorates Pokémon’s 30th anniversary.
MajorsJun 30, 2026
Saks Global Emerges From Bankruptcy With New NameThe luxury retailer is now called Exemplar Luxury Group.
CollectionsJun 30, 2026
Jade Ruzzo’s New Collection Embodies the Art of Being a LadyThe “Lady” collection is a new take on old beauty standards with gemstone-adorned hair pins and combs, a compact mirror necklace, and more.
SourcingJun 30, 2026
Blue Nile Introduces Montana Sapphire CollectionThe new line is included in the e-tailer’s curation of jewelry celebrating America’s 250th anniversary.
GradingJun 30, 2026
AGS Opens 2026 Recertification ExamAll active members who earned their credential or designation before Dec. 1, 2025, are required to recertify.
CollectionsJun 29, 2026
Briony Raymond’s New Collection Is a ‘Carousel’ of Hard StonesThe new jewelry collection uses a colorful palette of onyx, malachite, tiger’s eye, mother-of-pearl, lapis, turquoise, and coral.
IndependentsJun 29, 2026
Look Inside Lee Michaels’ Revamped Mississippi FlagshipLee Michaels Fine Jewelry is celebrating 30 years in the Ridgeland, Mississippi community.
GradingJun 29, 2026
National Rarities Announces New Gemology ManagerSean Milliner has joined the company.
GradingJun 29, 2026
GIA to Open New London CampusClasses will begin in August at GIA’s new Canary Wharf location.
AuctionsJun 26, 2026
‘Hogback’ Diamond Ring Finds a New Home A ring set with “hogback” diamonds, an early stone cut dating to around the 16th century, sold for more than $20,000 at a U.K. auction.
CollectionsJun 26, 2026
Strength Is Sharpened Into Beauty in Kris Averi’s ‘Prism Thorn’ RingThe rainbow version of the ring, our Piece of the Week, features angel-cut, octahedral lab-grown sapphires designed to be worn as armor.
MajorsJun 26, 2026
Rembrandt Charms Debuts ‘Charms That Give Back’The new initiative donates a portion of the proceeds from select charms to charitable causes.
TrendsJun 26, 2026
Bernard James Celebrates Knicks’ Win with RingThe Brooklyn-based jeweler created a limited-edition version of its “Aura” eternity band, set with gemstones in the team’s colors.
SourcingJun 25, 2026
ICA Names Brandee Dallow as CEODallow will lead the International Colored Gemstone Association, effective July 6.
EditorsJun 25, 2026
Out & About: How Jewelers Mutual, SCAD Are Tackling the Bench Jeweler ShortageSenior Editor Lenore Fedow headed to Savannah to learn more about the 10-year, $10 million partnership between JM and the art school.
CollectionsJun 25, 2026
Mejuri Experiments With SteelIts new capsule jewelry collection features gold-finished stainless steel pieces designed for a maximalist look without a luxury price tag.
