Signet Delivers Strong Holiday Results On Soaring E-commerce Sales

Signet Jewelers reported a strong holiday season during the nine weeks that ended 2nd January, 2021 as soaring online sales made up for declining brick-and-mortar revenue.

Signet’s total Holiday Season sales remained flat at $1.8 billion, while preliminary same store sales improved 5.6% year over year. Online sales were up 60.8% year over year, while brick and mortar same-store sales declined 4.1%.

“Despite considerable macro hurdles, the Signet team delivered strong holiday performance – an achievement that demonstrates the power of our multi-year Path to Brilliance transformation strategy and the agility, innovation, and determination of our people,” said Virginia C. Drosos, Chief Executive Officer.

“Our results were driven by new digital and fulfillment capabilities, increasingly personalised and insight-based marketing, banner portfolio differentiation, and a strong merchandising strategy that included competitive newness and a strengthened core assortment — all of which increased conversion, attracted new customers, and increased market share. Our sales momentum coupled with strong profit generation are reflective of our team’s excellent execution and new ways to help our customers Celebrate Life and Express Love whenever and however they desire to shop,” Drosos added.

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