Signet Jewelers beats by $0.03, reports revs in-line; guides Q4 EPS in-line
Reports Q3 (Oct) adj. earnings of $0.21 per share, $0.03 better than the Capital IQ Consensus Estimate of $0.18; revenues rose 52.7% year/year to $1.18 bln vs the $1.18 bln consensus.
Co issues in-line guidance for Q4, sees adj. EPS of $2.95-3.05 vs. $3.03 Capital IQ Consensus Estimate.
"We delivered a solid third quarter highlighted by continued strength in same store sales, which rose 4.2%, led by Kay at 7.5% and Jared at 6.5%. Positive momentum in our UK division continued with our highest third quarter increase in same store sales, at 3.7%, in seven years and our best operating result in four years. We believe our Sterling and UK divisions are well-prepared to deliver for the holiday season."
"While Zale same store sales declined 0.9%, we remain pleased with the Zale division integration progress. In the short time period since owning Zale, we have been able to implement select initiatives to further the Zale holiday business. We remain confident in our ability to meet our goal of $150 million to $175 million in cumulative 3-year synergies from January-end 2015 to January-end 2018."
Separately, as part of Signet's ongoing efforts to manage its diamond supply chain, Signet announced it has entered into a rough diamond supply contract in Botswana with DeBeers, the world's leading rough diamond producer
Co issues in-line guidance for Q4, sees adj. EPS of $2.95-3.05 vs. $3.03 Capital IQ Consensus Estimate.
"We delivered a solid third quarter highlighted by continued strength in same store sales, which rose 4.2%, led by Kay at 7.5% and Jared at 6.5%. Positive momentum in our UK division continued with our highest third quarter increase in same store sales, at 3.7%, in seven years and our best operating result in four years. We believe our Sterling and UK divisions are well-prepared to deliver for the holiday season."
"While Zale same store sales declined 0.9%, we remain pleased with the Zale division integration progress. In the short time period since owning Zale, we have been able to implement select initiatives to further the Zale holiday business. We remain confident in our ability to meet our goal of $150 million to $175 million in cumulative 3-year synergies from January-end 2015 to January-end 2018."
Separately, as part of Signet's ongoing efforts to manage its diamond supply chain, Signet announced it has entered into a rough diamond supply contract in Botswana with DeBeers, the world's leading rough diamond producer