- Signet Jewelers Ltd SIG reported fourth-quarter FY22 sales growth of 28% year-on-year, to $2.81 billion, beating the consensus of $2.77 billion. Same-store sales grew 23.8% versus last year.
- Brick and mortar sales increased 34.6% to $2.3 billion, and eCommerce sales rose 8.7% to $556 million.
- North America segment raked in the major chunk of sales, amounting to $2.6 billion, a 26.9% increase Y/Y. Same-store sales for the segment increased 22.2% versus last year.
- International segment same-store sales increased 50.2%, and sales rose 49% Y/Y to $183.4 million.
- The gross margin expanded 120 basis points to 41%. The adjusted operating income for the quarter increased 39.9% Y/Y to $411 million, with an operating margin of 14.6%.
- Adjusted EPS increased 20.7% Y/Y to $5.01, matching the Street view.
- Signet generated $1.3 billion in operating cash flow for FY22 and held cash and equivalents of $1.4 billion as of January 29, 2022.
- The company had an inventory of $2.1 billion at year-end, a 1.4% increase Y/Y.
- "Despite a challenging macro environment ahead, we believe that we are well-positioned in partnership with our strategic suppliers," said CEO Virginia C. Drosos.
- Guidance: Signet expects Q1 sales of $1.78 billion - $1.82 billion, above the consensus of $1.74 billion.
- It sees FY23 sales of $8.03 billion - $8.25 billion, above the consensus of $7.89 billion. Signet sees FY23 EPS of $12.28 - $13.00, above the Street view of $10.52.
- Price action: SIG shares are trading higher by 8.74% at $84.51 in premarket trading on the last check Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in
