FinancialsFeb 25, 2021
Retail Sales Growth in 2021 Depends on Vaccines, Says NRFFinancialsMar 18, 2021
Online Sales Soar, Strengthening Signet’s Q4
The jewelry giant saw e-commerce sales increase 71 percent year-over-year in its fourth quarter.
Signet’s total sales rose 2 percent overall in the fourth quarter, but fell 15 percent for the full year.
Akron, Ohio—Signet Jewelers Ltd. posted a strong fourth quarter but the specialty jeweler’s full-year sales fell by double digits due to the COVID-19 pandemic.
In the fourth quarter ended Jan. 30, sales totaled $2.2 billion, up 2 percent year-over-year, with same-store sales climbing 7 percent, the retailer reported Thursday morning.
Brick-and-mortar sales were down 4 percent year-over-year while online sales climbed 71 percent, accounting for 23 percent of all sales.
Signet’s Buy Online Pick-Up In Store feature, or BOPIS, was up and running by the fourth quarter, noted CEO Virginia Drosos on an earnings call Thursday morning.
It was a popular choice, particularly among male customers ahead of the holidays.
Drosos noted high rates of customer satisfaction and on-time fulfillment with BOPIS, with 86 percent of orders picked up within three hours in December.
For the full fiscal year, Signet’s sales totaled $5.2 billion, down 15 percent year-over-year, with same-store sales sliding 11 percent.
Related stories will be right here …
In the fourth quarter ended Jan. 30, sales totaled $2.2 billion, up 2 percent year-over-year, with same-store sales climbing 7 percent, the retailer reported Thursday morning.
Brick-and-mortar sales were down 4 percent year-over-year while online sales climbed 71 percent, accounting for 23 percent of all sales.
Signet’s Buy Online Pick-Up In Store feature, or BOPIS, was up and running by the fourth quarter, noted CEO Virginia Drosos on an earnings call Thursday morning.
It was a popular choice, particularly among male customers ahead of the holidays.
Drosos noted high rates of customer satisfaction and on-time fulfillment with BOPIS, with 86 percent of orders picked up within three hours in December.
For the full fiscal year, Signet’s sales totaled $5.2 billion, down 15 percent year-over-year, with same-store sales sliding 11 percent.
As the vaccine rollout brings customers closer to normal, discretionary spending may shift to other categories, noted Signet on the earnings call.
The retailer said it will increase its marketing spending to continue to fuel momentum.
Drosos said the company is keeping its ear to the ground as to what consumers are interested in, looking into rental and subscription jewelry services as well as new designers.
In North America, where Signet’s banners include Kay, Jared and Zales, fourth-quarter same-store sales were up 10 percent.
The company noted particular strength in the bridal and fashion categories.
All U.S. banners reported same-store sales growth for the second consecutive quarter, noted Signet.
Brick-and-mortar same-store sales in North America were up less than 1 percent, while online sales rose 66 percent.
Average transaction value (ATV) inched up 1 percent while the number of transactions was up 10 percent.
For the full year, same-store sales were down 10 percent. Online sales were up 56 percent while brick and mortar sales declined 19 percent. ATV was flat to last year while the number of transactions fell 8 percent.
In the U.K., fourth quarter same-store sales fell 28 percent.
Brick-and-mortar sales plummeted 56 percent as e-commerce sales more than doubled, up 115 percent. ATV increased 6 percent while the number of transactions dropped 30 percent.
For the full year, same-store sales were down 25 percent. Online sales were up 81 percent while brick and mortar sales declined 42 percent. ATV was up 9 percent while the number of transactions fell 30 percent.
Following the third year of its Path to Brilliance transformation plan, Signet said Thursday it is moving into the next phase, “Inspiring Brilliance.”
The plan includes growing services revenue, expanding its luxury and value segments, bolstering digital commerce, and utilizing its data.
As for store count, Signet had 2,833 stores at the close of its fiscal year on Jan. 30, 375 fewer than the end of fiscal 2020. It closed 395 stores this fiscal year, which is FY21 for Signet.
The company is planning to close more than 100 stores and open more than 100 in stronger locations this fiscal year.
Signet has been optimizing its store footprint in recent years, moving away from low-performing malls to off-mall locations. It also has plans to add kiosks in underserved markets.
Looking ahead to fiscal 2022, the company expects to see first-quarter revenue between $1.42 billion and $1.46 billion while full-year revenue is expected to total between $5.85 billion and $6 billion.
More on Financials
The Latest
SourcingAug 12, 2025
Gemfields Sells Fabergé for $50MAcquired by a tech investor, the historic brand will continue to focus on jewelry, accessories, and timepieces.
Policies & IssuesAug 12, 2025
Higher Tariff on Chinese Imports Paused for 90 Days, Trump SaysPresident Donald Trump issued an executive order extending the pause on higher tariffs to November as negotiations with China continue.
CollectionsAug 12, 2025
Jacquie Aiche’s New Collection Harnesses the Energy of the ThunderbirdThe “Thunderbird Slab” collection features a thunderbird motif as a symbol of power, protection, and boundless possibility.
Brought to you by
Taking the Moment Head On: How Rio Grande Champions the Present & Future of Fine JewelryAs a leading global jewelry supplier, Rio Grande is rapidly expanding and developing new solutions to meet the needs of jewelers worldwide.
ColumnistsAug 12, 2025
Creative Connecting: How to Take a Better HeadshotColumnists Jen Cullen Williams and Duvall O’Steen share tips on how to elevate your professional image.
Weekly QuizAug 08, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CrimeAug 11, 2025
Man Convicted of First-Degree Murder in Death of Colorado JewelerPeter Damian Arguello, a jeweler in the Denver suburb of Wheat Ridge, was found dead inside his store in November 2023.
IndependentsAug 11, 2025
Lisa Bridge to Depart Ben Bridge JewelerThe retailer, owned by Berkshire Hathaway, is becoming part of the Berkshire Hathaway Jewelry Group with Helzberg.
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.
Events & AwardsAug 11, 2025
Bethenny Frankel to Give Keynote at CBG’s Experience ShowThe Continental Buying Group’s 2025 Tampa Experience Show is slated for Sept. 8-10.
EditorsAug 11, 2025
The Colors Expected to Be On-Trend in a Couple YearsAssociate Editor Lauren McLemore recently attended a fabrics trade show where a trend forecaster shared her predictions for summer 2027.
Events & AwardsAug 08, 2025
GJEPC’s Jewellers for Hope Celebrates 10 Years of FundraisingThe organization has raised more than $1.3 million for charity since its inception.
TrendsAug 08, 2025
Piece of the Week: Rahaminov Diamonds’ Bezel BangleThe brand’s latest iteration of a bezel-set diamond bangle features clean lines and a timeless design for a new modern silhouette.
WatchesAug 07, 2025
Bulova’s New Collection Honors Tony BennettThe first watch in the series commemorates his participation in the Civil Rights movement, marching from Selma to Montgomery in 1965.
Lab-GrownAug 07, 2025
Chatham Releases Catalog for Loose Lab-Grown GemstonesThe catalog contains a complete listing of all the loose gemstones in stock, as well as information about the properties of each stone.
TechnologyAug 07, 2025
Rembrandt Charms Debuts New Website, Bird CharmsThe company added a retailer dashboard to its site and three new birds to its charm collection, the cardinal, blue jay, and hummingbird.
Policies & IssuesAug 06, 2025
Tariff on India to Rise to 50%, Trump Says An additional 25 percent tariff has been added to the previously announced 25 percent.
MajorsAug 06, 2025
Claire’s Files for Chapter 11 Bankruptcy AgainThe jewelry and accessories retailer plans to close 18 stores as part of the proceedings.
IndependentsAug 06, 2025
Smith & Son Jewelers to Close 107-Year-Old Location Its Springfield, Massachusetts, store is set to close as owner Andrew Smith heads into retirement.
CollectionsAug 06, 2025
Zahn-Z Swims With Whales in ‘Beluga’ CollectionDesigner Hiba Husayni looked to the whale’s melon shaped-head, blowhole, and fluke for her new chunky gold offerings.
TrendsAug 06, 2025
Paola De Luca to Release Trendbook 2027+She will present the 23rd edition of the trend forecasting book at Vicenzaoro on Sept. 7.
CrimeAug 05, 2025
Report: Suspect Arrested in 1992 Murder of Miami JewelerOmar Roy, 72, was arrested in connection with the murder of jeweler Dionisio Carlos Valladares.
CollectionsAug 05, 2025
Mignon Faget Commemorates 20th Anniversary of Hurricane KatrinaThe New Orleans-based brand’s “Beyond Katrina” jewels honor the communities affected by the storm.
ColumnistsAug 05, 2025
The PR Adviser: Affiliate Marketing Is the Cost of CoverageLilian Raji explains why joining an affiliate network is essential for brands seeking placements in U.S. consumer publications.
Events & AwardsAug 05, 2025
JA Announces Seymour & Evelyn Holtzman Bench Scholarship WinnersThe organization has awarded a total of $42,000 through its scholarship programs this year.
Events & AwardsAug 04, 2025
Gem Awards, David Yurman Introduce $50K Grant for Emerging DesignersThe winner of the inaugural David Yurman Gem Awards Grant will be announced live at the 2026 Gem Awards gala.
TrendsAug 04, 2025
Amanda’s Style File: August’s Bright BaublesAs summer winds down, celebrate the sunny disposition of the month’s birthstones: peridot and spinel.
CrimeAug 04, 2025
‘The Watch King’ Assaulted, Robbed in QueensMoshe Haimoff, a social media personality and 47th Street retailer, was robbed of $559,000 worth of jewelry by men in construction outfits.
