Signet Reports First Quarter EPS of $0.96, up 10.3%, Achieved Double Digit
Signet Reports First Quarter EPS of $0.96, up 10.3%, Achieved Double Digit Comps Over Important Mother's Day Period
24 May 2012
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HAMILTON, Bermuda, May 24, 2012 – Signet Jewelers Limited (“Signet”) (NYSE and LSE: SIG), the largest specialty retail jeweler in the US and UK, today reported sales and earnings growth for the 13 weeks ended April 28, 2012 (“Q1 Fiscal 2013”). •Same store sales up 1.2% •Income before income taxes $128.5 million, up 9.1% •Diluted earnings per share $0.96, up 10.3%
Mike Barnes, Chief Executive Officer, commented: “We delivered strong financial results in the first quarter and increased our earnings per share by 10.3% to $0.96 as we anticipated the impact of the Mother’s Day promotional calendar shift and managed our business accordingly. I would like to thank all at Signet who contributed to these results.
In the second quarter to date, which benefited from the calendar shift, our same store sales, including Mother’s Day, were up strong double-digits reflecting the customer’s broad acceptance of our merchandise offerings, our great customer experience and the effectiveness of our advertising in this important gift giving period. Our results year to date, combined with our focus on competitive strengths and our consistent ability to execute our initiatives, leave us well positioned to meet the challenges of the current economic environment and achieve our objectives for the year.”
Second quarter Fiscal 2013 guidance: •Guidance is being provided for the second quarter due to the complexity of the calendar shift. Same store sales in the second quarter are expected to be in the mid to high single digit range and fully diluted earnings per share are expected to range from $0.78 - $0.84 based on an estimated 84 million weighted average shares outstanding.
There will be a conference call today at 8:30 a.m. Eastern Time (1:30 p.m. BST and 5:30 a.m. Pacific Time)