Signet Reports Sluggish Holiday Sales
January 14, 25
(IDEX Online) - Signet Jewelers today (14 January) now expects same store sales (SSS) to shrink this quarter, after a sluggish performance over the holiday period.
It has revised its SSS forecast from a flat 3 per cent increase to a fall of 2 per cent.
Signet has around 2,700 stores across many brands, including Kay Jewelers, Zales, Jared, Banter by Piercing Pagoda, Diamonds Direct.
SSS for the 10 weeks to 11 January were "below forecast" - down by around 2 per cent year-on-year, the retailer said in its Holiday Results.
As a result, it has reduced its SSS guidance for Q4 2025.
It is also forecasting total sales down from $2.38bn - $2.46bn to $2.320bn - $2.335bn.
Adjusted EBITDA is expected at $381m - $391m, down around 15 per cent on an earlier forecast of $441m - $471m.
"Fashion gifting underperformed as consumers gravitated to lower price points even more than anticipated in a continued competitive environment," said Joan Hilson, chief financial and operating officer.
But engagement and service sales were within expectations and average selling prices (Merchandise Average Unit Retail) in bridal and fashion increased.
J.K. Symancyk, who replaced Gina Drosos as Signet CEO last November, said: "While there were positives in the underlying business performance during Holiday, I believe we have the opportunity to reshape our customer facing strategies in the areas of marketing, product design, and assortment innovation."