SIgnet looks set to rally as online sales save the day
Signet (NYSE:SIG) reports comparable sales rose 2.3% in Q4 to top the consensus mark of +1.1%. Zales was a top-performing chain with a 5.9% comp the quarter, while Piercing Pagoda delivered a 7.7% comp.
North America comparables sales were up 2.9%, offset in part by a 3.1% drop for the international business. E-commerce sales increased 15.1% during the quarter.
Gross margin came in at 41.9% of sales vs. 40.7% consensus and 40.7% a year ago.
COVID-19 response: The company says it's aggressively reducing overall capital expenditures, prioritizing digital investments to enhance its e-commerce platform and provide a frictionless shopping experience for customers. After taking a drawdown, Signet has more than $1.2B in cash and an additional $292B available on an asset-based revolving credit facility. Source Seeking alpha
Signet (NYSE:SIG) reports comparable sales rose 2.3% in Q4 to top the consensus mark of +1.1%. Zales was a top-performing chain with a 5.9% comp the quarter, while Piercing Pagoda delivered a 7.7% comp.
North America comparables sales were up 2.9%, offset in part by a 3.1% drop for the international business. E-commerce sales increased 15.1% during the quarter.
Gross margin came in at 41.9% of sales vs. 40.7% consensus and 40.7% a year ago.
COVID-19 response: The company says it's aggressively reducing overall capital expenditures, prioritizing digital investments to enhance its e-commerce platform and provide a frictionless shopping experience for customers. After taking a drawdown, Signet has more than $1.2B in cash and an additional $292B available on an asset-based revolving credit facility. Source Seeking alpha
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