Signet Jewelers, the world's largest retailer of diamond jewelry, reported a 7.6% decrease in sales during the second quarter of Fiscal 2025 compared to the same period in Fiscal 2024. The company's financial performance was impacted by competitive pricing pressure, store closures, and the UK watch divestiture. Despite positive factors such as new fashion assortments and improvements in engagement trends, these were offset by a slower engagement recovery and macroeconomic effects on consumer spending. The company's average merchandise transaction values (ATV) increased by 1.6% in North America but decreased by 13.4% in the International segment. Signet anticipates same store sales between -4.5% and +0.5% for the full year Fiscal 2025, with expectations of a multi-year engagement recovery back to pre-pandemic levels. The company...Show More

Signet Jewelers, the world's largest retailer of diamond jewelry, reported a 7.6% decrease in sales during the second quarter of Fiscal 2025 compared to the same period in Fiscal 2024. The company's financial performance was impacted by competitive pricing pressure, store closures, and the UK watch divestiture. Despite positive factors such as new fashion assortments and improvements in engagement trends, these were offset by a slower engagement recovery and macroeconomic effects on consumer spending. The company's average merchandise transaction values (ATV) increased by 1.6% in North America but decreased by 13.4% in the International segment. Signet anticipates same store sales between -4.5% and +0.5% for the full year Fiscal 2025, with expectations of a multi-year engagement recovery back to pre-pandemic levels. The company plans to leverage its data and strengths to capture a significant share of the recovery and continue strategic investments to differentiate from competitors. Signet completed the divestiture of its UK prestige watch business in Fiscal 2024 and closed 20 stores in Fiscal 2025, primarily at the Ernest Jones banner, to focus on strategic business in the UK. The company continues to monitor the impacts of macroeconomic factors, including inflation and geopolitical conflicts.