Signet Total Sales $6.55 Billion in FY 2016March 24, 16
(IDEX Online News) – Signet Jewelers Limited has reported that its annual total sales for the 2016 fiscal year reached $6.55 billion – a 14.2 percent increase.
In the fourth quarter alone, the company’s total sales were $2.39 billion compared to $2.27 billion in the 13 weeks ended January 31, 2015 – a 5.1-percent increase. Same store sales increased 4.9 percent in the quarter compared to a 4.2-percent increase over the same period a year previously.
E-commerce sales in the fourth quarter rose $16.7 million to $166.3 million, which represents an 11.2-percent increase.
Sterling Jewelers, Zales, Piercing Pagoda and UK Jewelry’s same store sales increased by 5 percent, 4.4 percent, 6.4 percent and 4.7 percent respectively. The average transaction value also increased, 6 percent, 6.2 percent, 10 percent and 3.7 percent respectively. However, in all but UK Jewelry’s case, the number of transactions decreased.
Kay’s fourth quarter same store sales increased 7.4 percent, with total sales of $940.8 million. Jared’s fourth quarter same store sales increased 1.4 percent, with total sales of $439.5 million.
Signet had 3, 625 stores as of January 30, 2016 compared to 3,579 at the end of the same period a year previously.
“Once again, we delivered strong top and bottom line growth with results driven by product innovation; targeted marketing; and supported by delivering superior customer service by the best store teams in retail,” said Signet Jewelers CEO, Mark Light.