Positive Same-Store Sales Growth
Signet Jewelers reported positive same-store sales over the last three months, including Valentine's Day, indicating a successful adjustment in inventory and product offerings.
Growth in Lab-Grown Diamonds
Lab-grown diamond fashion sales increased by 60% in Signet's big three brands, driving fashion average unit retail growth and margin expansion.
Strategic Reorganization and Cost Savings
Signet announced a reorganization to streamline operations, expected to save $50 million to $60 million in the fiscal year, with an annualized impact of at least $100 million.
Dividend Increase
Signet raised its quarterly dividend by 10%, marking the fourth consecutive annual increase.
Strong January Performance
The company experienced strong sales in January, driven by product landing at key price points and strong engagement.