Signet Jewelers Ltd (NYSE:SIG) shares are ticking lower after the company reported its first-quarter FY25 earnings and outlook.
The company reported a first-quarter FY25 sales decline of 9.5% year-on-year to $1.510 billion, missing the analyst consensus estimate of $1.514 billion.
North America segment sales amounted to $1.42 billion, a 9% decrease Y/Y. Same-store sales for the segment decreased 9.2% versus last year.
International segment same-store sales decreased 3.2%, and sales fell 17% Y/Y to $77.2 million.
Gross margin of 37.9% stayed flat Y/Y. The operating income for the quarter was $49.8 million versus $101.7 million last year, with an operating margin of 3.3%, down from 6.1% last year.
Adjusted EPS of $1.11 beat the consensus estimate of $0.85.
Signet's operating cash flow used in the quarter was $158.2 million versus $381.8 million used in the prior year. It held cash and equivalents of $729.3 million as of May 4.
Signet's Board declared a quarterly cash dividend of $0.29 per share, payable August 23 to shareholders of record on July 26.
In the first quarter, Signet repurchased approximately 73,000 common shares at an average cost per share of $101.10, or $7.4 million. The company had a net debt of $(253.5) million as of May 4, 2024.
"Our results reflect notable acceleration from a sluggish February to the top half of expectations, with an even stronger May...We expect continued momentum in the second quarter, leading to a positive same store sales inflection in the second half of Fiscal 25," said Chief Executive Officer Virginia C. Drosos.
Guidance: Signet expects second-quarter sales of $1.46 billion – $1.52 billion, versus the consensus of $1.508 billion. Same store sales decline of (6)% – (2)%.
SIG reaffirms FY25 sales outlook of $6.66 billion – $7.02 billion, against the consensus of $6.836 billion. Same store sales of (4.5)% to 0.5%.
Signet expects FY25 adjusted EPS of $9.90 – $11.52, against the Street view of $10.55.
The company continues to expect a three-year recovery in U.S. engagement rates, with fiscal 2025 engagement incidents increasing 5% to 10% to fiscal 2024.
Price Action: SIG shares are trading lower by 1.31% at $107.00 in premarket at the last check Thursday.
Image via Shutterstock
西格內特珠寶 (紐交所:SIG)股票價格下跌，此前公佈了其FY25第一季度的收益和展望。
該公司報告稱，其第一季度FY25銷售額同比下降9.5%，至15.10億美元，低於分析師預期的15.14億美元。
北美業務銷售額達14.2億美元，同比下降9%。該業務的同店銷售額同比下降9.2%。
國際業務同店銷售額下降了3.2%，銷售額同比下降了17%，至7720萬美元。
毛利率爲37.9%，同比持平。本季度營業利潤爲4980萬美元，去年爲1.017億美元，營業利潤率從去年的6.1%降至3.3%。
調整後的每股收益爲1.11美元，超過預期的0.85美元。
該公司本季度經營性現金流爲1.582億美元，去年同期爲3.818億美元。截至5月4日，該公司持有7.293億美元的現金和等價物。
該公司董事會宣佈每股派現0.29美元的現金股利，股東可在2023年7月26日和8月23日分別領取。
在第一季度，Signet回購了約7.3萬股普通股，平均每股成本爲101.10美元，共計7.4萬美元。截至2024年5月4日，該公司淨債務爲2.535億美元。
首席執行官Virginia C. Drosos表示：“我們的業績從2月份的持久不振加速到了預期的前半部分，五月份更是表現強勁...我們預計在第二季度保持勢頭，導致財年25上半年同店銷售額有所好轉。”
展望：Signet預計第二季度銷售額爲14.6億美元-15.2億美元，而市場普遍預期爲15.08億美元；同店銷售額下降(6)%-(2)%。
SIG重申其FY25銷售展望爲66.6億美元-70.2億美元，而市場普遍預期爲68.36億美元；預計同店銷售額下降(4.5)%至0.5%。
Signet預計FY25調整後每股收益爲9.90美元至11.52美元，而預期爲10.55美元。
該公司預計美國求婚率將在三年內恢復，2025財年求婚率將增長5%至10%，遠高於2024財年。
股票走勢：截至週四的預檢中，SIG 股價下跌1.31%，報107.00美元。
圖片來自shutterstock。
