
The international jewelry retailer reported total sales of $2.19 billion for the fourth quarter on Thursday, as well as improvements in its bottom line. The company also announced the next stage in its growth plan.
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The international jewelry retailer reported total sales of $2.19 billion for the fourth quarter on Thursday, as well as improvements in its bottom line. The company also announced the next stage in its growth plan.
E-commerce was the star of the company's holiday season, with e-commerce sales increasing by 57.5% in its North America market and 92.8% internationally.
The international jewelry retail group has announced net income of $900,000, or $0.02 per diluted share, for the third quarter, up from a net loss of $43.7 million, or $0.84 per diluted share, in the prior-year period.
As the jewelry retailer continues its accelerated transition to a more digitally focused model, Signet Jewelers made solid progress in e-commerce in Q2, but still posted a 34.9% drop in total sales.
The international jewelry retailer announced on Friday that it has appointed Rebecca Wooters as its new chief digital officer, as the company doubles down on its online transformation plans in the wake of Covid-19.
The jewelry retailer reported a 40.5% decline in sales in the first quarter on Tuesday and announced that it is planning to shutter 380 stores in line with a strategy to pivot towards a more digitally focused model.
The global jewelry retail group announced a significant reduction in its net losses for the first quarter of 2020 on Thursday, despite declining sales, as it continues to implement its transformation plan.
Signet shares dropped over 22% after larger than expected declines in its legacy lines and reduced traffic during key December gifting weeks, leading company execs to suggest store closings and a reassessment of product.
Sterling Jewelers Inc has agreed to pay $11 million in fines to settle charges by U.S. and New York regulators that it signed up consumers for store credit cards and credit insurance without permission.
Total sales for the quarter ended August 4, 2018, increased 1.5 percent reaching $1.42 billion, with same store sales up 1.7 percent compared to the prior year quarter.