Signet Jewelers, the diamond jewellery retailer, announced its results for the 13 weeks (fourth quarter Fiscal 2016) and 52 weeks (Fiscal 2016) ending on 30 January 2016. It reported a fourth quarter rise of over 20%, with the fiscal rise reaching nearly 24%
The company reported annual total sales of $6.55 billion, which is an increase of 14.2%.
Its fiscal 2016 same store sales increased by 4.1%, with its diluted earnings per share (EPS) growing nearly 24%; which adjusted, gave a nearly 22% EPS growth.
The fourth quarter same store sales increased by 4.9%; with the EPS growing by over 20%; (adjusted, was over 18%)
Mark Light, chief executive officer of Signet Jewelers, said, “Signet had an excellent finish to another strong year. Once again, we delivered strong top and bottom line growth with results driven by product innovation; targeted marketing; and supported [it] by delivering superior customer service by the best store teams in retail. These and many other competitive strengths such as a diversified real estate portfolio, customer finance programs, and custom jewelry and repair continue to position Signet long term as a profitable growth company in the specialty retail sector.
“As we start our new fiscal year, we are pleased with our progress quarter to date. In Fiscal 2017, we will continue our disciplined execution of our focused strategies that include our omni-channel approach to customer service; product innovation and fresh line extensions; and maximizing the effectiveness of marketing through the use of customer segmentation research. All of these efforts combined with an accelerated pace of store openings give us confidence in achieving another year of significant EPS growth, as evidenced by our newly-initiated annual guidance.
“I want to thank all Signet team members for their contributions to our results and for all their hard work in delivering the fourth quarter and Fiscal 2016.”