Signet Jewelers Ltd. (SIG) downgraded at Wells Fargo

Shares of Signet Jewelers Ltd. (SIG), the parent of Zale and Kay jewelry store chains, plunged 14% in afternoon trading Thursday, to pace declines among its retail peers, after Wells Fargo analyst Ike Boruchow turned bearish, citing expectations of continued declining consumer interest in the brands and concerns over the highly levered balance sheet. The stock extends the 31.6% selloff suffered in 2019, which marked the fifth straight yearly decline, the longest such streak in its publicly traded history. The stock 2019 performance compares with the 12.3% gain in the SPDR S&P Retail ETF XRT, -0.76% and the S&P 500's SPX, +0.84% 28.9% rally last year. Boruchow downgraded Signet to underweight from equal weight, and slashed his stock price target to $12, which is 25% below current levels, from $16. Boruchow said a survey of 750 shoppers showed that purchase intent has worsened over the last 12 months, to 68% of respondents planning to shop at Signet stores less from 47% planning to shop less over the previous 12-month period.

-=Signet Jewelers (SIG) reported earnings on Thur 6 Dec 18 (b/o)

Signet Jewelers beats by $0.04, beats on revs; raises FY19 EPS and revs guidance 

• Reports Q3 (Oct) loss of $1.06 per share, $0.04 better than the S&P Capital IQ Consensus of ($1.10); revenues rose 3.0% year/year to $1.19 bln vs the $1.16 bln S&P Capital IQ Consensus.
  • Q3 Same store sales up 1.6% versus prior-year quarter
• Co raises guidance for FY19, sees EPS of $4.15-4.40 vs. $4.24 S&P Capital IQ Consensus, up from prior guidance of $4.15-4.40; sees FY19 revs of $6.26-6.31 vs. $6.27 bln S&P Capital IQ Consensus, up from prior guidance of $6.2-6.3 billion.
  • Co raises SSS guidance to flat - +1.0%, up from prior guidance of (1.5%) - flat 

Earnings this week : Dec 3 - 7, 18 (wk 49)

Earnings confirmed to report this week

Monday (Dec 3)    

• Morning: FNSR
• Afternoon:  COUP MESA RH SMAR

Tuesday (Dec 4)

• Morning:  AZO AVYA BMO BNED CONN DG DCI GMS HDS MOV SECO TOL
• Afternoon: ESTC GWRE HOME HPE HQY MDB MRVL OLLI  OL ZS

Wednesday (Dec 5)
Markets will be closed for the mourning of the 41st US President George H.W. Bush

• Morning: AEO BF.B GIII JW.A LE MOMO SCWX 
• Afternoon: CLDR FIVE GEF HRB KFY  OKTA SNPS  

Thursday (Dec 6)

• Morning:  DLTH GCO GIII HOME HOV HRB KFY KR LE MEI MIK MOMO PDCO PLCE SCWX SIG THO TTC VRNT
• Afternoon:  AOBC AVGO CMTL COO DOCU DOMO LULU SAIC ULTA UNFI ZUMZ

Friday (Dec 7)

• Morning: BIG MTN

=Signet Jewelers (SIG) reported earnings on Thur 30 August 2018 (b/o)

Signet Jewelers beats by $0.34, beats on revs, SSS +1.7%; issues mixed Q3 gudiance; raises FY19 guidance; CFO stepping down 

• Reports Q2 (Jul) earnings of $0.52 per share, excluding non-recurring items, $0.34 better thanthe S&P Capital IQ Consensus of $0.18; revenues rose 1.5% year/year to $1.42 bln vs the $1.34 bln S&P Capital IQ Consensus.
• Same store sales ("SSS") up 1.7% versus prior year quarter
• Co issues mixed guidancefor Q3, sees EPS of ($1.23-1.08), excluding non-recurring items, vs. ($1.07) S&P Capital IQ Consensus; sees Q3 revs of $1.15-1.17 bln vs. $1.14 bln S&P Capital IQ Consensus; sees SSS down 1.5% to flat
• Co raises guidancefor FY19, sees EPS of $4.05-4.40 (Prior $3.75-4.25), excluding non-recurring items, vs. $4.08 S&P Capital IQ Consensus; sees FY19 revs of $6.2-6.3 bln (Prior $5.9-6.1 bln) vs. $6.13 bln S&P Capital IQ Consensus; sees SSS down 1.5% to flat (Prior down low to mid-single digit %)
• The co also announced that Chief Financial Officer Michele Santana will leave the company in 2019 after eight years of service to pursue other opportunities. Signet has initiated an external executive search and expects to appoint a new CFO by the end of the company's fiscal year. Santana will continue as CFO until her successor is appointed and will remain with Signet in an advisory role until next year to ensure a smooth transition.

Earnings this week : August 27 - 31, 18 (wk 35)

Earnings confirmed to report this week

Monday (August 27)

• Morning: AMWD  PKX MBT JT SVA FGBI PEBK TATT
• Afternoon: HEI PAHC  SHG BAP WF BILI  RYB MESA

Tuesday (Aug 28)

• Morning: BBY BJ BMO BNS CTLT  DSW HAIN SFUN SXI TIF
• Afternoon: BOX HPE HRB LCI NCS OOMA PSEC SCSC  SCVL TLRY YRD

Wednesday (Aug 29)

• Morning: AEO BF.B CHS DKS DY EV EXPR MOV
• Afternoon: CRM GEF GES HOME PVH SMTC TLYS UEPS

Thursday (Aug 30)

• Morning: ANF BURL CIEN CPB DG  DLTR  GMS KIRK MEI MIK PDCO SIG TD TECD TITN
• Afternoon: AMBA  AOBC  COO  LULU  NTNX PAGS ULTA YEXT ZUO

Friday (Aug 31)

• Morning: BIG  

=Signet Jewelers (SIG) reported earnings on Wed 6 June 2018 (b/o)

June 4:  #23; vol. 2.0M

June 5:  #23; vol. 3.4M

Signet Jewelers beats by $0.20, beats on revs; guides Q2 EPS below consensus, revs in-line; reaffirms FY19 EPS guidance, revs guidance; Q1 comps -0.1% 

• Reports Q1 (Apr) EPS of $0.10 per share, excluding non-recurring items, $0.20 better than the Capital IQ Consensus of ($0.10); revenues rose 5.5% year/year to $1.48 bln vs the $1.4 bln Capital IQ Consensus. Total same store sales performance was (0.1)% versus the prior year quarter. Company continues to expect $475 million in share repurchases in Fiscal 2019, of which $60 million were repurchased in the first quarter.
• Co issues guidance for Q2, sees EPS of $0.05-0.20, excluding non-recurring items, vs. $0.57 Capital IQ Consensus Estimate; sees Q2 revs of $1.3-1.35 bln vs. $1.35 bln Capital IQ Consensus Estimate; ses comps down mid single digits.
• Co reaffirms guidance for FY19, sees EPS of $3.75-4.25, excluding non-recurring items, vs. $3.96 Capital IQ Consensus Estimate; sees FY19 revs of $5.9-6.1 bln vs. $6.03 bln Capital IQ Consensus Estimate; co reaffirms comps down low to mid single digits.
• Co also  announced two executive appointments rounding out a Leadership Team aligned to drive the Company's transformation under its Path to Brilliance plan. Mary Elizabeth Finn has been named Chief People Officer and Stephen Lovejoy has been named Chief Supply Chain Officer, effective immediately. Finn and Lovejoy will report directly to the Chief Executive Officer, Virginia C. Drosos.

=Signet Jewelers Ltd. (SIG) reported earnings on Tue 21 November 2017 (b/o)

HAMILTON, Bermuda (AP) _ Signet Jewelers Ltd. (SIG) on Tuesday reported a fiscal third-quarter loss of $3.9 million, after reporting a profit in the same period a year earlier.

On a per-share basis, the Hamilton, Bermuda-based company said it had a loss of 20 cents. Earnings, adjusted for non-recurring costs, came to 15 cents per share.

The results met Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was also for earnings of 15 cents per share.

The jewelry company posted revenue of $1.16 billion in the period, which missed Street forecasts. Three analysts surveyed by Zacks expected $1.17 billion.

Signet expects full-year earnings to be $6.10 to $6.50 per share.

Signet shares have dropped 20 percent since the beginning of the year. The stock has declined 15 percent in the last 12 months.

=Signet Jewelers (SIG) reported earnings on Thur 24 August 2017 (b/o)

Signet Jewelers beats by $0.24, beats on revs; guides FY18 EPS above consensus

• Reports Q2 (Jul) earnings of $1.33 per share, excluding non-recurring items, $0.24 better than the Capital IQ Consensus of $1.09; revenues rose 1.9% year/year to $1.4 bln vs the $1.33 bln Capital IQ Consensus.
• Co issues upside guidance for FY18, sees EPS of $7.16-7.56, excluding non-recurring items, vs. $6.78 Capital IQ Consensus Estimate. Co sees FY17 comps down low mid single digits.
• Q2 comps +1.4%. Zale gross margin dollars decreased $1.0 million. The gross margin rate decreased 70 basis points due primarily to greater promotional activity and de-leverage on store operating and occupancy costs partially offset by a slightly more favorable merchandise mix. 
• Co announced that it has agreed to acquire R2Net for $328 million in an all cash transaction. R2Net is the owner of JamesAllen.com, as well as Segoma Imaging Technologies, who provides R2Net machines to enable delivery of next-generation digital shopping experience for jewelry.

=Signet Jewelers (SIG) reported earnings on Thur 25 May 2017 (b/o)

Signet Jewelers misses by $0.62, misses on revs; reaffirms FY18 EPS guidance:

• Reports Q1 (Apr) earnings of $1.03 per share, $0.62 worse than the Capital IQ Consensus of $1.65; revenues fell 11.1% year/year to $1.4 bln vs the $1.46 bln Capital IQ Consensus.
• E-commerce sales in the first quarter were $81.0 million, up $0.9 million or 1.1% compared to $80.1 million in the first quarter Fiscal 2017. By operating segment: 
  • Sterling Jewelers' SSS decreased 12.8% driven by declines across merchandise categories. Average transaction value increased 3.7%, but the number of transactions declined 16.6%. Higher-priced bridal jewelry as well as select diamond fashion jewelry and brands outperformed lower-priced merchandise. Off-mall sales led the division.
  • Zale Jewelry's SSS decreased 12.7%. Average transaction value increased 2.9%, while the number of transactions decreased 16.9%. Like the Sterling division, broad declines across merchandise categories drove the SSS decline, and higher-priced bridal jewelry and diamond fashion jewelry outperformed lower-priced merchandise.
  • Piercing Pagoda's SSS decreased 1.3%. Average transaction value increased 6.9%, while the number of transactions decreased 8.2%. Higher sales of 14 kt. gold chains, children's and religious jewelry nearly offset lower sales principally in diamond jewelry.
  • UK Jewelry's SSS decreased 3.5%. Average transaction value increased 12.4% and the number of transactions decreased 14.4%. The SSS decline was driven principally by lower sales of jewelry offset by higher sales of watches. Strong sales of prestige watches drove average transaction value.
• Co reaffirms guidance for FY18, sees EPS of 7.00-7.40 vs. $6.90 Capital IQ Consensus Estimate.
  • SSS down low-to-mid single-digit %
  • Capital expenditures $260 million to $275 million
  • Net selling square footage growth -1% to 0%
• "We continue to take decisive action to adapt our business to the current challenging retail environment and to position our company for long-term growth. Importantly, during the quarter, we made significant improvements to our online platforms and continued to accelerate our digital marketing efforts which resulted in a measurable sequential improvement in our e-commerce performance. We also made important changes to our organizational structure and strengthened our team to drive our 2020 Strategic Vision and deliver operational efficiencies. Based on the progress we achieved to date on our Customer-First OmniChannel strategy and with a number of initiatives underway, we expect Fiscal 2018 results to be within our previously-announced guidance range. 

=Signet Jewelers (SIG) reported earnings on Thur 9 March 17 (b/o)

HAMILTON, Bermuda (AP) _ Signet Jewelers Ltd. (SIG) on Thursday reported fiscal fourth-quarter net income of $287.8 million.

On a per-share basis, the Hamilton, Bermuda-based company said it had profit of $3.92. Earnings, adjusted for non-recurring costs, came to $4.03 per share.

The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $4 per share.

The jewelry company posted revenue of $2.27 billion in the period, falling short of Street forecasts. Four analysts surveyed by Zacks expected $2.36 billion.

For the year, the company reported profit of $531.3 million, or $7.08 per share. Revenue was reported as $6.41 billion.

Signet expects full-year earnings to be $7 to $7.40 per share.

Signet shares have decreased 32 percent since the beginning of the year. The stock has declined 41 percent in the last 12 months.

=Signet Jewelers (SIG) reported earnings on Tue 11/22/16 (b/o)

Signet Jewelers beats by $0.10, reports revs in-line; guides Q4 EPS above consensus; Credit review process 'proceeding according to plan' :

• Reports Q3 (Oct) earnings of $0.30 per share, excluding non-recurring items, $0.10 better than the Capital IQ Consensus of $0.20; revenues fell 2.5% year/year to $1.19 bln vs the $1.18 bln Capital IQ Consensus. Total sales on a constant currency basis declined 0.5%.
  • SSS decreased 2.0% vs. down 3-5% guidance, compared to an increase of 3.3% in the third quarter Fiscal 2016. The sales declines were due to under performance in select stores (e.g. regionals, Jared); energy dependent regions which reduced SSS about 80 basis points; and declines in select collections such as Charmed Memories and watches. This was partially offset by better performance in fashion jewelry and select bridal. Ecommerce sales in the third quarter Fiscal 2017 were $51.6 million, or 4.4% of sales, up $1.1 million, or 2.2%, compared to $50.5 million in the third quarter Fiscal 2016.
• Co issues upside guidance for Q4, sees EPS of $4.00-4.20, excluding non-recurring items, vs. $3.95 Capital IQ Consensus.  
• Credit Strategy Update:
  • Signet's credit review process is progressing well. As previously disclosed, the Company is reviewing a range of options from optimizing the current in-house credit business to seeking a partnership that would enable Signet to gain greater financial flexibility. Signet has identified opportunities to enhance its credit business and is pleased with the interest expressed by potential partners. Regardless of the credit review outcome, Signet believes shareholder value will be created.
• "We expected challenging market conditions to result in a sales decline. However, our continuing ability to execute in a difficult environment led to results that were somewhat better than our expectations. "Signet achieved some important wins during the quarter. Fashion diamond and gold jewelry performed well as did select branded bridal. We saw success in a variety of selling channels including kiosks, outlets, and on-line. In addition, our teams delivered solid expense and inventory management leading to strong free cash generation. The Zale integration is running well and synergies remain on target. "While near term headwinds may persist, we are confident that we made the right investments into initiatives designed to drive growth and deliver on our fourth quarter expectations."

=Signet Jewelers (SIG) reported earnings on Thur 8/25/16 (b/o)

Signet Jewelers misses by $0.32, misses on revs; guides Q3 EPS below consensus; lowers FY17 guidance :

• Reports Q2 (Jul) earnings of $1.14 per share, excluding non-recurring items, $0.32 worse than the Capital IQ Consensus of $1.46; revenues fell 0.8% year/year to $1.4 bln vs the $1.44 bln Capital IQ Consensus.
  • Same store sales down 2.3% vs. guidance between +1-2%
• Co issues downside guidance for Q3, sees EPS of $0.17-0.25, excluding non-recurring items, vs. $0.50 Capital IQ Consensus Estimate. Sees same store sales growth between (5.0%) to (3.0%)
• Co lowers guidance for FY17, sees EPS of $7.25-7.55 (prior $8.25-8.55), excluding non-recurring items, vs. $8.23 Capital IQ Consensus Estimate. Sees same store sales growth between (2.4%) to (1.0%)
• On track to deliver cumulative synergies of $158 mln to $175 mln by end of this fiscal year and $225 mln to $250 mln by end of next fiscal year.
• "We are disappointed by our Q2 results and market conditions have been challenging particularly in the energy-dependent regions. This has contributed to a downward revision in our annual guidance."
• Leonard Green & Partners committed to a $625 mln convertible preferred investment in Signet.

SIG — is it a sell?

• April 15:  Is SIG a sell?

• 7 weeks later

Signet Jewelers (SIG) reported earnings on Thur 24 March 2016 (b/o)

** charts after earnings **

Signet Jewelers Ltd. said its profit rose 19% in its latest quarter, with earnings beating expectations, and the company issued upbeat guidance for the year.

SIG — NR

SIG — is it a buy?

• Feb 29: Is SIG a buy?

 

• 6 weeks later: NO

Great trade : SIG +15% (12/15)

Afterwards, SIG continued its slide in the following weeks.