Signet Revenue Down 3%
December 09, 24
(IDEX Online) - Signet reported a 3.1 per cent drop in revenue for Q3 2025, down to $1.35bn as it continued to face "some challenges".
But it's an improvement for the world's largest retailer of diamond jewelry, which reported a 7.6 per cent revenue drop during the previous quarter (Q2 2025).
"I recognize we have some challenges," said J.K. Symancyk (pictured) in his first Signet earnings call since he took over from Gina Drosos as CEO.
"Engagement incidents are somewhat less predictable on a short-term basis and as you know, lab-created diamonds have disrupted the industry."
But he said he was confident Signet's strengths would overcome its challenges to yield growth.
Guidance for Q4 is for total sales of $2.38bn to $2.46bn, and for FY 2025 it is $6.74 to $6.81bn, compared to $7.2bn for FY 2024.
Signet said the guidance partly reflects "integration challenges" at its digital banners Blue Nile and James Allen.
Same store sales for Q3 were down 0.7 per cent in the three months to 2 November, operating income was down 31 per cent year-on-year to $9.2m and adjusted operating income fell 32 per cent to $16.2m.