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Signet Jewelers Limited - SIG STOCK NEWS

Welcome to our dedicated page for Signet Jewelers news (Ticker: SIG), a resource for investors and traders seeking the latest updates and insights on Signet Jewelers stock.

Signet Jewelers Limited (NYSE: SIG) is recognized as the largest specialty retail jeweler in both the U.S. and the U.K. The company operates approximately 2,800 stores under a variety of well-known brand names including Kay Jewelers, Zales, Jared, Banter by Piercing Pagoda, Diamonds Direct, Blue Nile, JamesAllen.com, Rocksbox, Peoples Jewellers, H. Samuel, and Ernest Jones. Signet’s merchandise range encompasses diamond jewelry, bridal selections, fashion pieces, watches, and more. Their core business segments are spread across North America, International, and Other categories, with the majority of revenue derived from their North American operations.

In recent news, Signet has announced its third quarter results for Fiscal 2024, showcasing the company’s robust strategic progress. Despite economic challenges, Signet has demonstrated resilience through effective cost management, strategic divestitures, and a commitment to sustainability. The company’s recent sale of 15 luxury watch stores in the U.K. to the Watches of Switzerland Group highlights its focus on optimizing its retail footprint.

Financially, Signet maintains a strong position with a GAAP gross margin of $501.3 million for Q3 FY2024. The company is also actively involved in corporate social responsibility, having raised significant funds for St. Jude Children's Research Hospital. Furthermore, Signet’s commitment to sustainability is evidenced by its participation in the United Nations Global Compact and its adherence to principles-based responsible business practices.

News

SIGNET JEWELERS REPURCHASES 50% OF CONVERTIBLE PREFERRED SHARES AHEAD OF MATURITY

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Signet Jewelers and Leonard Green & Partners amend terms of Preferred Shares, reducing diluted share count by repurchasing half of the shares. The transaction increases FY2025 non-GAAP EPS guidance by 9% to 10%.
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SIGNET BOARD CHAIR SUCCESSION

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Signet Jewelers announced the appointment of Helen McCluskey as the new Board Chair, succeeding H. Todd Stitzer at the June 2024 Annual General Meeting. Stitzer is completing his twelve-year term, during which Signet saw significant financial growth and shareholder returns. The Company's Director Tenure Policy limits terms to 12 years. McCluskey, with a retail background, is set to lead Signet's Board.
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SIGNET JEWELERS REPORTS FOURTH QUARTER AND FISCAL 2024 RESULTS

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Signet Jewelers (SIG) reported results in line with expectations for the fourth quarter of Fiscal 2024, with EPS exceeding estimates. The company announced a $350 million cost out initiative over the next 3 years, raised share repurchase authorization to $850 million, and increased the common dividend by 26%. Key highlights include gross margin expansion, sustained average transaction value, and strong cash flow generation. Despite challenges in the industry, Signet remains optimistic about its strategic initiatives and expects sequential same store sales improvement in Fiscal 2025.
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SIGNET JEWELERS ANNOUNCES NEW BOARD APPOINTMENT

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Signet Jewelers Limited appoints Sandra Cochran to its Board of Directors, expanding the Board to 13 members. Cochran's retail expertise and financial acumen are expected to enhance Signet's strategic planning and transformation under CEO Gina Drosos.
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SIGNET JEWELERS ANNOUNCES TIMING OF FISCAL 2024 FOURTH QUARTER EARNINGS RELEASE AND CONFERENCE CALL

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Signet Jewelers Limited (SIG) will release its fourth quarter results on March 20, 2024, followed by a conference call and webcast. Investors can register for the webcast to listen to the updates.
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SIGNET JEWELERS REPORTS THIRD QUARTER FISCAL 2024 RESULTS

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Signet Jewelers Limited (NYSE:SIG) reports third-quarter fiscal 2024 results, including sales of $1.4 billion, down 12.1% year-over-year, and GAAP operating income of $13.3 million. The company reaffirms guidance for FY2024, excluding the profitable sale of 15 U.K. stores. Engagement recovery is tracking as expected, and total inventory is down 14% year-over-year.
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SIGNET JEWELERS ANNOUNCES TIMING OF FISCAL 2024 THIRD QUARTER EARNINGS RELEASE AND CONFERENCE CALL

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Signet Jewelers Limited (NYSE: SIG) will release its third-quarter results on December 5, 2023, followed by a conference call and webcast. The company's performance will be available for review and analysis.
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Signet Jewelers announces new $100 million commitment to St. Jude Children's Research Hospital®

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Signet Jewelers, the world's largest retailer of diamond jewelry, has announced a new $100 million commitment to St. Jude Children's Research Hospital. This is in celebration of their 25th anniversary partnership and will further advance research and treatment for children with cancer and other life-threatening diseases.
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Signet Jewelers to Participate at the Goldman Sachs 30th Annual Global Retailing Conference

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Signet Jewelers to participate at Goldman Sachs conference
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SIGNET JEWELERS REPORTS SECOND QUARTER FISCAL 2024 RESULTS

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Signet Jewelers Limited (NYSE: SIG) announced its second quarter Fiscal 2024 results, reporting sales of $1.6 billion, down 8.1% from the previous year. Same store sales were down 12.0% compared to the same period last year. The company's full-year revenue and non-GAAP operating income guidance was reaffirmed, and EPS guidance was increased to reflect second quarter share repurchases. Signet also reduced its inventories by 4% from the prior year and 8% excluding acquisitions.
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FAQ

What is the current stock price of Signet Jewelers (SIG)?

The current stock price of Signet Jewelers (SIG) is $98.31 as of December 3, 2024.

What is the market cap of Signet Jewelers (SIG)?

The market cap of Signet Jewelers (SIG) is approximately 4.3B.

What is Signet Jewelers Limited?

Signet Jewelers Limited is the largest specialty retail jeweler in the U.S. and U.K., operating under brands such as Kay Jewelers, Zales, and Jared.

What are the core business segments of Signet?

Signet's core business segments include the North America segment, the International segment, and the Other segment, with the North America segment contributing the majority of revenue.

What types of products does Signet sell?

Signet sells a variety of jewelry products including diamond jewelry, bridal selections, fashion pieces, and watches.

How many stores does Signet operate?

Signet operates approximately 2,800 stores under various brand names.

What recent financial performance has Signet reported?

Signet reported a GAAP gross margin of $501.3 million for Q3 FY2024 and has shown progress in strategic cost management and retail optimization.

What sustainability initiatives is Signet involved in?

Signet is a participant in the United Nations Global Compact and adheres to responsible business practices outlined in its Corporate Citizenship & Sustainability Report.

What recent philanthropic efforts has Signet made?

Signet recently raised a record $8.75 million for St. Jude Children’s Research Hospital as part of its $100 million commitment.

What strategic actions has Signet taken recently?

Signet has strategically sold 15 luxury watch stores in the U.K. to optimize its retail footprint and focus on core business areas.

How has Signet performed in the stock market recently?

Signet has demonstrated resilience in the stock market with strategic progress and strong financial management, aiding its performance despite economic challenges.

Where can I find more information about Signet Jewelers?

More information about Signet Jewelers can be found on their official website at www.signetjewelers.com and on their individual brand websites.

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Signet Jewelers Limited

NYSE:SIG

SIG Rankings

#1425 Ranked by Market Cap
#1698 Ranked by Dividends

SIG Stock Data

4.33B
42.51M
2.95%
109.11%
11.97%
Luxury Goods
Retail-jewelry Stores
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United States of America
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