NYSE$SIG
Signet Jewelers LTD · Q3 2022 earnings
Q3 2022 earnings · · Investor relations
Briefing
Reported strong Q3 2022 results, driven by refreshed merchandise and enhanced Connected Commerce capabilities.
Signet Jewelers reported strong third-quarter results with total sales of $1.5 billion, a significant increase compared to the previous year. The company raised its Fiscal Year 2022 guidance, reflecting business momentum and enhanced Connected Commerce capabilities.
- Total sales were $1.5 billion, an increase of more than $235 million to Q3 of FY21 and nearly $350 million to Q3 of FY20.
- Q3 same store sales (“SSS”) up 18.9% to Q3 of FY21 and up 37.2% to Q3 of FY20.
- GAAP operating income of $106.9 million, up from $39.7 million in Q3 of FY21.
- GAAP diluted earnings per share (EPS) of $1.45, up from $0.02 in Q3 of FY21.
Headline financials
Revenue & EPS history
Signet · Revenue · Quarterly
$1.54B
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 Jewelers raised its Fiscal 2022 guidance to reflect enhanced Connected Commerce capabilities and business momentum.
Tailwinds
- Signet expects some shift of consumer discretionary spending away from the jewelry category toward experience-oriented categories during the fourth quarter.
- The Company has increased its gross cost savings expectations for Fiscal 2022 to $100 million to $115 million from $85 million to $105 million.
- Cost savings are expected to benefit both SG&A and gross margin.
- Signet has planned Fiscal 2022 capital expenditures in the range of $190 million to $200 million.
- Signet's efforts to mitigate supply chain and retail labor pool disruption amongst the pandemic impacts have been effective thus far. Guidance assumes no material disruptions for the remainder of Fiscal 2022.
Headwinds
- While timing and magnitude is difficult to predict, Signet expects some shift of consumer discretionary spending away from the jewelry category toward experience-oriented categories during the fourth quarter.
- Continued uncertainty regarding macroeconomic factors exists, including but not limited to the magnitude and duration of COVID-19 resurgence through the variants, including Omicron, in key trade areas, government mandates, extended duration of heightened unemployment, organized retail crime, pricing and inflationary environment changes (including, but not limited to, materials, labor, fulfillment and advertising costs).
- Further, there can be no assurance that current results and trends will continue for the remainder of the fiscal year and such results and trends are not indicative of future performance.
- Signet continues to put the health and safety of its employees and customers first and will close stores in the event that either is at risk; however, guidance does not contemplate large scale store closures resulting from COVID-19 variants, including uncertainty surrounding the effects of the most recent variant, Omicron.
- Recently acquired Diamonds Direct is now included in the fourth quarter and full year Fiscal 2022 guidance, from the date of acquisition on November 17, 2021.
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 Q3 2022
+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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