SIG - Why Is Signet Jewelers Stock Losing Its Shine Today? | Benzinga
Signet Jewelers Ltd (NYSE:SIG) reported a fourth-quarter fiscal 2024 sales decline of 6.3% year-over-year to $2.498 billion, missing the consensus of $2.547 billion. Same-store sales for the quarter were down 9.6%.
North America segment sales amounted to $2.35 billion, a 6.1% decline Y/Y. Same-store sales for the segment decreased 10%. International segment same-store sales decreased 1%, and sales fell 7.5% Y/Y to $141.7 million.
Gross margin expanded 160 bps to 43.3%, driven by a 130 bps of merchandise margin expansion.
Adjusted operating income for the quarter was $409.7 million versus $404.7 million last year, with an operating margin of 16.4%, up from 15.2% YoY.
Adjusted EPS was $6.73, up from $5.52 a year ago, beating the consensus of $6.37.
At the end of the quarter, Signet’s cash and ...