Signet Jewelers Limited announced on January 14, 2025, that its preliminary holiday sales for the ten weeks ended January 11, 2025, showed approximately a 2% decline in same-store sales. This performance was below forecast, particularly during the peak selling days leading up to Christmas.
The company reported that while engagement and service sales were within expectations and Average Unit Retail (AUR) increased in Bridal and Fashion, fashion gifting underperformed. Consumers gravitated towards lower price points more than anticipated, and merchandise assortment gaps at key gifting price points hindered sales.
As a result of the holiday performance, Signet significantly lowered its fourth-quarter Fiscal 2025 guidance. Total sales are now projected to be between $2.320 billion and $2.335 billion, down from the prior range of $2.38 billion to $2.46 billion. Adjusted operating income is expected to be $337 million to $347 million, a reduction from the previous forecast of $397 million to $427 million.
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