85
Fashion Jobs
ADIDAS
Senior Director Product Creation Ftw
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Corporate Affairs & Reputation Manager - Corporate Affairs & Engagement
Permanent · HO CHI MINH CITY
JO MALONE LONDON
Education Manager, Jml/lm
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Senior HR Operations Executive/ Assistant Manager
Permanent · HO CHI MINH CITY
ADIDAS
Key Account Manager (Franchise)
Permanent · HO CHI MINH CITY
ADIDAS
Senior Manager, Commercial, Adigolf, Vietnam 1
Permanent · HO CHI MINH CITY
ADIDAS
Key Account Manager 1 (Franchise)
Permanent · HO CHI MINH CITY
COLUMBIA
lo Costing & Engineering Manager
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Category Manager - Cpd
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Business Planning Manager - Cpd
Permanent · HO CHI MINH CITY
ADIDAS
Senior Manager Product Creation (Sportwear)
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Product Manager - Shu Uemura
Permanent · HO CHI MINH CITY
ADIDAS
Manager, Quality Product Integrity
Permanent · HO CHI MINH CITY
TAPESTRY
Manager, Manufacturing Engineer
Permanent · HO CHI MINH CITY
SPECIALIZED
Painting Quality Engineer - Bình Dương, Vietnam
Permanent ·
ON RUNNING
Social Compliance Specialist - Hcm Based
Permanent · HO CHI MINH CITY
ADIDAS
Senior Manager, Sourcing Operations
Permanent · HO CHI MINH CITY
WILLIAMS SONOMA
Wood Sustainability Specialist - (Global)
Permanent · THUẬN AN
PUMA
Manager Quality Apparel & Accessories
Permanent · HO CHI MINH CITY
PUMA
Senior Executive, Finance
Permanent · HO CHI MINH CITY
PUMA
Head of Quality Footwear
Permanent · HO CHI MINH CITY
PUMA
Quality Engineer Cobra
Permanent · HO CHI MINH CITY
Published
Apr 13, 2021
Reading time
2 minutes
Download
Download the article
Print
Text size

Signet ups Q1 and full-year guidance

Published
Apr 13, 2021

International jewelry retailer Signet Jewelers Limited announced on Monday that it has raised its financial guidance for the current first quarter and full fiscal year, citing stronger than expected conversion and average ticket values.


Signet is in the process of executing its Inspiring Brilliance growth strategy - Instagram: @kayjewelers

 
Signet now expects its revenues to total between $1.57 billion and $1.60 billion in the first quarter, reflecting a year-over-year increase in same-store sales of between 97% and 99%. Previously, the company said that it predicted Q1 revenues of between $1.42 billion and $1.46 billion, on a same-store sales increase in the range of 80% to 84%.  
 
The retailer, whose brand portfolio includes Kay, Zales and Jared in the U.S., and H. Samuel and Ernest Jones in the UK, as well as digital-first jeweler James Allen, also said that it now expects its adjusted quarterly operating income to total between $85 million and $100 million, compared to a previous guidance of between $335 million and $365 million.

As for full-year guidance, Signet now expects its annual revenues to be in the range of $6.00 billion to $6.14 billion, compared to its previously reported prediction of between $5.85 billion and $6.00 billion. Same-store sales are expected to rise in the range of 17% to 20%, up from a prior outlook of between 14% and 17%.
 
Adjusted full-year operating income is predicted to be between $335 million and $364 million, compared to the company’s previous guidance of between $290 million and $324 million.
 
According to Signet, it believes that its solid top-line growth in the first quarter has been “due to a combination of traction from strategic initiatives as well as tailwinds from stimulus, tax refunds and consumer enthusiasm on the heels of vaccine rollouts – particularly during the company's guest appreciation events in late March.”
 
The retailer also said that, having evaluated the impact of recent Covid-19-related inventory delays in countries such as India, it believes that it has mitigated the short-term impacts of these slow-downs. The company did, however, highlight that if the delays continue or intensify, they could negatively affect its full-year guidance.
 
Signet recently acquired online jewelry rental service Rocksbox as part of a new phase of its Inspiring Brilliance growth strategy, which focuses on boosting the company’s digital presence and expanding its services offering.
 
In the fiscal year ended January 30, 2021, Signet’s annual net sales totaled $5.2 billion, down 14.8% from $6.1 billion in the previous year due to the impact of the Covid-19 pandemic. Net loss for the year was $48.7 million, or $0.94 per diluted share, compared to income of $72.6 million, or $1.40 per diluted share, in the previous year.
 
Signet currently operates approximately 2,800 stores in the U.S., Canada and the UK.

Copyright © 2024 FashionNetwork.com All rights reserved.