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Signet Jewelers Limited Message Board

  • bluecheese4u bluecheese4u Aug 23, 2012 9:00 AM Flag

    Signet Reports Record Second Quarter EPS of $0.85, Kay Same Store Sales Increase 12.5%

    Signet Reports Record Second Quarter EPS of $0.85, Kay Same Store Sales Increase 12.5%

    23 Aug 2012

    Click here to view the full Press Release (46KB PDF)
    Click here to view the Release in HTML format
    Click here to listen to the Conference Call
    Click here to download the slides for the conference call (483KB PDF)

    HAMILTON, Bermuda, August 23, 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 and 26 weeks ended July 28, 2012 (“Q2 Fiscal 2013” or “second quarter of Fiscal 2013”).

    Q2 Fiscal 2013
    •Same store sales
    up 7.1%

    • Operating income
    $110.9 million, up 8.4%

    • Diluted earnings per share
    $0.85, up 11.8%

    Mike Barnes, Chief Executive Officer, commented: “We delivered strong second quarter results driven by a 12.5% increase in same store sales at Kay and positive same store sales in the UK. This combined with expansion in operating margin drove a double digit increase in earnings per share. I would like to thank all at Signet who contributed to these results.

    As we begin the second half of the year, we remain focused on delivering an exceptional customer experience with exciting merchandise programs, new enhanced marketing programs, and further development of our digital sales capabilities; as always, driven by our talented team. We believe these strengths leave us well positioned to deliver our objectives for the year.”

    Fiscal 2013 guidance:
    •Guidance is being provided principally due to the complexity of calendar shifts occurring in Fiscal 2013.

    •Same store sales in the third quarter are expected to be in the low to mid single digit range, which includes the impact of a one-time watch event at Jared in the third quarter of Fiscal 2012. Fully diluted earnings per share are expected to range from $0.34 - $0.38 based on an estimated 81.0 million weighted average shares outstanding.
    •Fiscal 2013 is a 53 week year with the 53rd week occurring in the Company’s fiscal fourth quarter. The additional week is expected to increase sales by approximately $50 million. However, this will have a negative impact on the same store sales calculation for the fourth quarter and fiscal year as the sales in the comparable calendar week were $89.3 million, which included a promotional event ahead of Valentine's Day that shifts into Fiscal 2014. As we previously stated, this additional week is expected to result in an operating loss of $2 million - $4 million, reflecting advertising expense which remains in Fiscal 2013 and the calendar shift that impacts sales.

    Conference Call
    There will be a conference call today at 8.30 a.m. Eastern Time

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94.99+2.58(+2.79%)Aug 23 4:02 PMEDT