×
3 550
Fashion Jobs
URBN
Free People Assistant Visual Manager - Guildford, UK
Permanent · GUILDFORD
VF INTERNATIONAL
Compliance &Amp; Audit Controller
Permanent · CALVERTON
COTY
UK & Ireland Cfo, Consumer Beauty & Luxury
Permanent · London
EVERLAST GYMS
General Manager - Everlast Gyms
Permanent · SELBY
SELFRIDGES
Senior Tech Business Analyst - Source And Supply
Permanent · LONDON
HARVEY NICHOLS KNIGHTSBRIDGE
Brand Consultant - Canada Goose (Womenswear)
Permanent · LONDON
NEXT
Sales Coordinator - Toftshaw Lane Staff Shop
Permanent · BRADFORD
NEXT
Home Design Consultant - Norfolk Longwater
Permanent · NORWICH
NEXT
Delivery Manager - Basildon
Permanent · BASILDON
NEXT
Sales Manager - Scarborough Home
Permanent · SCARBOROUGH
NEXT
Sales Coordinator - Cheltenham Gallagher
Permanent · CHELTENHAM
NEXT
Delivery Coordinator - Bentley Bridge - Wolverhampton
Permanent · WOLVERHAMPTON
NEXT
Sales Coordinator - Leeds Thorpe Park
Permanent · LEEDS
NEXT
Sales Coordinator - Redditch
Permanent · REDDITCH
NEXT
Sales Manager - Bristol Imperial Park
Permanent · BRISTOL
HUGO BOSS UK LTD.
IT Business Consultant - Northern Hub
Permanent ·
FRASERS GROUP
HR Business Partner
Permanent · SHIREBROOK
EVERLAST GYMS
General Assistant - Everlast Fitness
Permanent · STOKE-ON-TRENT
ALL SAINTS
Senior CRM Executive
Permanent · London
COTY
Pan eu Senior Key Account Manager
Permanent · London
FLANNELS
Events & Marketing Manager- Flannels
Permanent · LIVERPOOL
FRASERS GROUP
Senior Marketing Executive - Everlast Gyms
Permanent · SHIREBROOK
Ads
Published
May 25, 2017
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Signet Jewelers sales slide in Q1

Published
May 25, 2017

Diamond jewelry retailer Signet Jewelers reported on Thursday weaker than expected earning results for the fiscal first quarter, ended April 29, 2017.
 
The owner of the Kay, Zales and Jared brands reported net income of $78.5 million in the first quarter, down from $146.8 million recorded during the same period last year.
 
Same store sales declined 11.5 percent, which Signet attributed to the unfavorable timing of Mother’s Day, which is typically split between first quarter and second quarter.

Signet Jewelers sales slide in Q1. - Signetjewelers.com

 
“As anticipated, we had a very slow start to the year as continued headwinds in the overall retail environment were exacerbated by a slowdown in jewelry spending and company specific challenges. However, Signet's Q1 same store sales improved sequentially, when normalized for Mother's Day, and we were pleased with the holiday's results,” said Mark Light, Chief Executive Officer of Signet Jewelers, in a news statement.
 
Signet's total sales were $1,403.4 million, down $175.5 million, compared to an increase of 3.2 percent in the 13 weeks ended April 30, 2016. The number of transactions decreased across all divisions due to declining brick and mortar store traffic. E-commerce sales increased in the first quarter however, up 1.1 percent to $81 million.

The company also unveiled plans to outsource its credit portfolio through a phased process. The first phase is expected to be fully implemented by October 2017 and will begin with the sale of $1.0 billion of its prime-only credit quality accounts receivable to Alliance Data Systems Corporation.
 
As part of the second phase, Signet intends to fully outsource its secondary credit programs, including the sale of the remaining receivables on its balance sheet, as well as funding for new non-prime account originations. 
 
Meanwhile, the company says it remains on-track to close approximately 165 to 170 stores in Fiscal 2018 and open about 90 to 115 stores.

Copyright © 2023 FashionNetwork.com All rights reserved.