Tag: jewelry news

Signet Jewelers Ltd (SIG) Reports Mixed Fiscal 2024 Results Amidst Industry Challenges

Posted on By Syifa

  • Total Sales: $7.2 billion in Fiscal 2024, a decrease of 8.6% year-over-year.

  • Same Store Sales: Down 11.6% compared to the previous fiscal year.

  • GAAP Operating Income: Increased to $621.5 million in Fiscal 2024 from $604.9 million in Fiscal 2023.

  • Non-GAAP Operating Income: Decrease to $642.8 million in Fiscal 2024 from $850.4 million in Fiscal 2023.

  • GAAP Diluted EPS: Rose significantly to $15.01 in Fiscal 2024, up from $6.64 in Fiscal 2023.

  • Non-GAAP Diluted EPS: Decreased to $10.37 in Fiscal 2024 from $11.80 in Fiscal 2023.

  • Dividend Increase and Share Repurchase: Raised common dividend by 26% and expanded share repurchase authorization to $850 million.

On March 20, 2024, Signet Jewelers Ltd (NYSE:SIG), the world’s largest retailer of diamond jewelry, released its 8-K filing, announcing its fourth quarter and full fiscal year 2024 results. The company, known for its extensive portfolio of jewelry stores including Kay Jewelers, Zales, and Jared, navigated a challenging year with a strategic focus on brand equity, customer experience innovation, and product newness.

Signet Jewelers Ltd (SIG) Reports Mixed Fiscal 2024 Results Amidst Industry ChallengesSignet Jewelers Ltd (SIG) Reports Mixed Fiscal 2024 Results Amidst Industry Challenges

Signet Jewelers Ltd (SIG) Reports Mixed Fiscal 2024 Results Amidst Industry Challenges

Fiscal Year 2024 Performance Overview

For the 53 weeks ended February 3, 2024, Signet reported total

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Jewelery News

Jeweler’s net jumps 34pc to $299m

Posted on By Syifa

https://www.thestandard.com.hk/section-news/section/2/261347/Jeweler's-net-jumps-34pc-to-$299m

Emperor Watch & Jewelery (0887) saw its net profit increase by 34.7 percent year-on-year to HK$299.2 million in 2023 as tourists returned and consumer sentiment improved.

Revenue rose 31 percent to HK$4.82 billion, with HK$2.51 billion and HK$1.37 billion from Hong Kong and mainland markets accounting for 52 percent and 28.5 percent of the total respectively.

Sales for the watch and jewelry division amounted to HK$3.48 billion and HK$1.34 billion respectively.

Gross profit rose by 23.2 percent from HK$1.18 billion in 2022 to HK$1.45 billion.

The company declared a final dividend of 56 HK cents per share last year, compared with 62 HK cents in 2022.

The luxury retailer said it expects Chinese consumers to spend locally amid continuous fluctuations of the yuan, and this will benefit its business in Hong Kong, Macau and the mainland.

It has 93 stores across Hong Kong, Macau, the mainland, Singapore and Malaysia.

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Jewelery News