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Signet Jewelers Reports Q2 above expectations, brick-and-mortar sales up 131%

Thursday, Sep 9, 2021

Signet Jewelers, the world’s largest retailer of diamond jewelry, has released financial results for Q2. 

Second quarters highlights include: 

  • Total sales were $1.8 billion, an increase of more than $900 million to Q2 of FY21 and more than $423 million to Q2 of FY20.
  • Q2 same store sales (“SSS”) up 97.4% (1) to Q2 of FY21 and up 38.1% to Q2 of FY20.
  • Brick and mortar SSS up 130.8% to Q2 of FY21 and up 27.5% to Q2 of FY20.

E-commerce growth for the brand has also slowed year-over-year – from nearly a 115% increase in Q2 of FY20 to now a 24.5% increase. 

“Our Signet team delivered strong second quarter top and bottom line performance with continued execution of our Inspiring Brilliance strategy, enabling us to maximize jewelry category strength and capture share over the last year. Our performance this quarter demonstrates that our banner value propositions, product newness, always-on marketing and connected commerce experiences are resonating with new and loyal customers. We are raising our guidance for the year reflecting our business strength and confidence in our growth strategy while remaining cautious regarding the impacts of the macro environment, particularly in the fourth quarter.  I’m proud and appreciative of our team – they continue to embrace our new consumer inspired capabilities with excellence,” said Virginia C. Drosos, Chief Executive Officer.

Source: Signet Jewelers Press Release
Photo Credit: Kay Jewelers

About Signet Jewelers
Signet Jewelers Limited is the world’s largest retailer of diamond jewelry.  Signet operates approximately 2,800 stores primarily under the name brands of Kay Jewelers, Zales, Jared, H.Samuel, Ernest Jones, Peoples, Piercing Pagoda, and JamesAllen.com. Further information on Signet is available at www.signetjewelers.com. See also www.kay.com, www.zales.com, www.jared.com, www.hsamuel.co.uk, www.ernestjones.co.uk, www.peoplesjewellers.com, www.pagoda.com, and www.jamesallen.com.

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