On Thursday, the US jewelry industry giant Signet announced strong fourth-quarter results and released a better-than-expected full-year performance outlook. The company's CEO said that this result not only reflects the company's progress, but also reflects its potential for sustainable development.
According to CNBC, in the quarter ended January 30, Signet’s quarterly revenue was $2.19 billion, higher than Wall Street’s forecast of $2.1 billion. In addition, comparable store sales increased by 7% this quarter, exceeding market expectations. In the fiscal year ended January 30, the company had sales of $5.2 billion.
In addition, the pandemic has changed the behavior of consumers, leading to a surge in online shopping sales and accelerating the shift of physical stores to digitalization. Signet has also experienced rapid development of e-commerce sales. For the quarter ended January 30, Signet's e-commerce sales surged 70.5% compared to the same period last year. In addition, Signet’s digital orders account for more than 23% of its total sales.
Signet CEO Gina Drosos told CNBC: "I think we can continue to develop our online business. I am very pleased to see that in the third and fourth quarters, even after the store reopens, e-commerce sales still grow by more than 60 %."
Moreover, Drosos also said that Signet is now a stronger company compared to three years ago, and Signet is obviously more dependent on data, that is, the ever-increasing digital sales and the success of targeted marketing.
With the increase in profit and sales revenue in the fourth quarter, the CEO of Signet will set new goals for the company in order to gain a greater market share.
Drosos said: "Signet's growth momentum has continued into this quarter of this year. So far, our first quarter sales have been very strong. So far, the global quarterly sales of this quarter have increased by 16%, and sales in North America have increased. Increased by more than 20%. And, I think the sales volume in the second quarter of this year will also grow strongly."
In addition, the company also predicts that its full-year sales for fiscal year 2022 will be between US$5.85 billion and US$6 billion.
