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Signet’s 4Q Revenue +5% on Strong Diamond Fashion Jewelry Sales
Average Transaction Value Rises on Better Product Mix
Mar 28, 2016 2:55 AM
By Rapaport News
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RAPAPORT... Signet Jewelers reported revenue rose 5.1 percent to $2.39
billion in its fourth fiscal quarter on strong diamond fashion jewelry sales in
the Sterling Jewelers and Zale divisions.
In the 13
weeks to January 30, the average transaction value at Sterling jumped 6
percent, even as the number of transactions fell 2.3 percent, driven principally
by the strength in diamond fashion jewelry. Sales in the Sterling division advanced
6.9 percent to $1.45 billion, according to a statement March 24.
The company
saw a similar pattern at Zale, where sales increased 2.9 percent to $655.1
million, with diamond fashion jewelry and bridal driving a 6.2-percent increase
in the average transaction price.
The average
transaction value at Piercing Pagoda jumped 10 percent on strong sales of
14-karat gold and diamond jewelry.
Same-store
sales across the company grew 4.9 percent, while total sales on a constant
currency basis advanced 6.4 percent. Profit grew 19 percent to $271.9 million.
The retailer’s
strong results were also driven by a 9.1-percent increase in sales in the
Kay brand to $940.8 million in the fourth quarter. In the fiscal year as a whole the group opened
42 new Kay stores or a net of 35.
In the full
fiscal year that ended January 30, total sales jumped 14 percent to $6.55
billion and profit surged 23 percent to $467.9 million.
The company
guided to a 3-to-4-percent increase in same-store sales in the first quarter
that ends April 30 and growth of 3 to 4.5 percent in the fiscal year to January
2017.
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Tags:
Bridal, diamond jewelry, Fashion jewelry, Rapaport News, sales, Signet, Signet Jewelers, sterling, Sterling Jewelers, Zale, zales
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