Signet Sales, Revenues Jump

Signet Jewelers group sales totaled $710.5 million in the third quarter, a 10.7 percent increase from last year. The company’s net income jumped 129.7 percent to $42.5 million.

“Our strong sales and earnings momentum continued into the third quarter, with same store sales up 10.6 percent and an increase in earnings per share to $0.30, or more than triple the prior year comparable period,” said Signet CEO Mike Barnes in a statement.

The company’s year-to-date sales totaled $2.4 billion, up 10.5 percent. Signet’s same-store sales for that period are up 10.2 percent.

Other highlights of Signet’s third quarter financial statement:

  • U.S. sales: $563 million, up 13.3%
  • U.S. same store sales: up 13.9%
  • U.K. sales: $147.5 million, up 1.9%
  • U.K. same store sales: down 0.5%
  • Gross margin: $229.9 million, up 18.8%
  • Net income year-to-date: $167.8 million, up 76.6%
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