The international jewelry retailer reported total first-quarter sales of $1.7 billion on Thursday, an increase of 98.2% from $852.1 million in the same period in the previous year, led by strong growth in North America.
The international jewelry retailer reported total sales of $2.19 billion for the fourth quarter on Thursday, as well as improvements in its bottom line. The company also announced the next stage in its growth plan.
The international jewelry retail group has announced net income of $900,000, or $0.02 per diluted share, for the third quarter, up from a net loss of $43.7 million, or $0.84 per diluted share, in the prior-year period.
The international jewelry retailer announced on Friday that it has appointed Rebecca Wooters as its new chief digital officer, as the company doubles down on its online transformation plans in the wake of Covid-19.
The jewelry retailer reported a 40.5% decline in sales in the first quarter on Tuesday and announced that it is planning to shutter 380 stores in line with a strategy to pivot towards a more digitally focused model.
The global jewelry retail group announced a significant reduction in its net losses for the first quarter of 2020 on Thursday, despite declining sales, as it continues to implement its transformation plan.
Signet shares dropped over 22% after larger than expected declines in its legacy lines and reduced traffic during key December gifting weeks, leading company execs to suggest store closings and a reassessment of product.