NYSE$SIG
Signet Jewelers LTD · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Delivered double-digit operating margin and reaffirmed annual guidance.
Signet Jewelers reported Q2 Fiscal 2023 results with $1.8 billion in revenue and a 10.6% operating margin. The company's focus on market share, operating efficiencies, and strategic investments, including the acquisition of Blue Nile, positions it for long-term growth. Despite a softer topline environment, inventory discipline provided flexibility and working capital efficiencies.
- Total sales were $1.8 billion, down 1.9% compared to a record Q2 of FY22, but up 29% versus Q2 of FY20.
- Same store sales decreased by 8.2% compared to Q2 of FY22.
- GAAP operating income was $186.8 million, down from $225.4 million in Q2 of FY22.
- Cash and cash equivalents at quarter end were $851.7 million.
Headline financials
Revenue & EPS history
Signet · Revenue · Quarterly
$1.75B
Revenue by segment
Signet · $2.15B total across 3 segments · Q4 2020
- North America$1.95B—90.7%
- International$186M—8.6%
- Other$13.3M—0.6%
Forward guidance
Signet is reaffirming its full year Fiscal 2023 revenue and operating income guidance which is provided on a non-GAAP basis.
Tailwinds
- Total revenue (in billions) $1.46 to 1.49
- Operating income (in millions) $20 to 34
- Diluted EPS $10.98 to $11.57
- Total revenue (in billions)$7.60 to $7.70
- Operating income (in millions)$787 to $828
Headwinds
- The Company’s outlook includes a level of consumer pressure, including inflation and the impact of stimulus, similar to what is currently being experienced.
- The Company’s outlook does not include 1) a material worsening of macroeconomic factors which could impact consumer spending patterns and have associated impacts on business performance; 2) the acquisition of Blue Nile, Inc.
- Signet continues to anticipate some shift of consumer discretionary spending away from the jewelry category reflecting pent-up demand for experience-oriented categories during the year.
- Signet’s efforts to mitigate supply chain disruption have been effective thus far. Guidance assumes no significant disruptions in availability of inventory.
- The Company’s outlook factors in a level of promotion.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2023
+1.4%
Avg return
Earnings day
+0.2%
Avg return
5 days after
+0.8%
Avg return
30 days after
57%
39 / 68 earnings
Positive
+27.6%
Q3 2023
Best reaction
-30.1%
Q3 2018
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2026 | +13.0% | -9.4% | -0.3% | |
| Q3 2026 | -7.2% | -13.3% | -13.4% | |
| Q2 2026 | +2.2% | +6.4% | +11.9% | |
| Q1 2026 | +12.2% | +16.3% | +25.8% | |
| Q4 2025 | +17.3% | +26.9% | +14.7% | |
| Q3 2025 | -7.0% | -14.1% | -21.6% | |
| Q2 2025 | +16.7% | +19.8% | +23.1% | |
| Q1 2025 | -19.6% | -15.8% | -18.8% | |
| Q4 2024 | -12.2% | -7.2% | -6.8% | |
| Q3 2024 | +12.4% | +14.7% | +16.5% | |
| Q2 2024 | +10.0% | +4.3% | +0.5% | |
| Q1 2024 | -13.9% | -15.7% | -1.4% | |
| Q4 2023 | +8.0% | +10.0% | +9.0% | |
| Q3 2023 | +27.6% | +18.1% | +16.1% | |
| Q2 2023 | -15.6% | -18.2% | -12.5% | |
| Q1 2023 | -0.9% | -1.8% | -10.5% | |
| Q4 2022 | +3.1% | +6.4% | -0.2% | |
| Q3 2022 | -9.1% | -3.9% | -6.4% | |
| Q2 2022 | +3.3% | -3.3% | +1.1% | |
| Q1 2022 | +22.5% | +21.6% | +25.5% | |
| Q4 2021 | +2.7% | -8.8% | +6.9% | |
| Q3 2021 | -1.8% | -5.1% | -8.5% | |
| Q2 2021 | +3.7% | -3.7% | +4.9% | |
| Q1 2021 | -27.2% | -32.9% | -40.1% | |
| Q4 2020 | +7.8% | -12.0% | +3.8% | |
| Q3 2020 | +23.6% | +24.9% | +14.4% | |
| Q2 2020 | +27.5% | +53.0% | +47.6% | |
| Q1 2020 | +1.6% | +2.0% | -10.9% | |
| Q4 2019 | +2.4% | -6.1% | -16.3% | |
| Q3 2019 | -22.9% | -30.7% | -30.7% | |
| Q2 2019 | +17.5% | +15.6% | +20.6% | |
| Q1 2019 | +22.1% | +28.0% | +33.6% | |
| Q4 2018 | -21.6% | -17.6% | -19.4% | |
| Q3 2018 | -30.1% | -34.3% | -26.5% | |
| Q2 2018 | +20.8% | +21.0% | +24.1% | |
| Q1 2018 | -9.6% | -12.2% | +7.1% | |
| Q4 2017 | +8.4% | +5.3% | +5.9% | |
| Q3 2017 | +5.6% | +4.7% | +5.1% | |
| Q2 2017 | -15.5% | -16.3% | -17.3% | |
| Q1 2017 | -8.1% | -8.7% | -24.3% | |
| Q4 2016 | +4.0% | — | — | |
| Q3 2016 | -3.7% | — | — | |
| Q2 2016 | +15.1% | — | — | |
| Q1 2016 | -2.9% | — | — | |
| Q4 2015 | +7.1% | — | — | |
| Q3 2015 | +5.2% | — | — | |
| Q2 2015 | +9.1% | — | — | |
| Q1 2015 | +4.7% | — | — | |
| Q4 2014 | +7.7% | — | — | |
| Q3 2014 | +0.9% | — | — | |
| Q2 2014 | -4.9% | — | — | |
| Q1 2014 | -2.4% | — | — | |
| Q4 2013 | +6.8% | — | — | |
| Q3 2013 | -2.7% | — | — | |
| Q2 2013 | -2.0% | — | — | |
| Q1 2013 | -7.3% | — | — | |
| Q4 2012 | -3.5% | — | — | |
| Q3 2012 | -3.8% | — | — | |
| Q2 2012 | +6.5% | — | — | |
| Q1 2011 | +5.7% | — | — | |
| Q1 2012 | -1.8% | — | — | |
| Q4 2009 | +2.7% | — | — | |
| Q4 2011 | +2.7% | — | — | |
| Q3 2011 | +0.4% | — | — | |
| Q3 2010 | +0.4% | — | — | |
| Q2 2010 | -6.0% | — | — | |
| Q4 2010 | -6.0% | — | — | |
| Q2 2011 | -6.0% | — | — |
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