Signet Jewelers LimitedNYSE
Mon, Nov. 28, 8:33 AM
- Black Friday weekend channel checks from investment firms are still pouring in. A few tidbits are posted below.
- Wells Fargo: Lululemon (NASDAQ:LULU) was a traffic outperformer, while Calvin Klein (NYSE:PVH) and Carter's (NYSE:CRI) held the line on pricing amid a promotional atmosphere.
- Wedbush: High-profile video games were discounted more than last year. Keep an eye out on GameStop (NYSE:GME), Activision Blizzard (NASDAQ:ATVI), Take-Two (NASDAQ:TTWO) and Electronic Arts (NASDAQ:EA).
- Fung Global Retail & Technology: Shoes (FL, FINL) were identified as a hot seller, while jewelry (NYSE:SIG) sales were down.
- Jefferies: Unexpected strength for the UGG brand (NASDAQ:DECK) and Gap was observed. Demand for Michael Kors (NYSE:KORS) and Coach (NYSE:COH) handbags appeared soft.
- Previously: Black Friday wrap: Records fall, retail winners and losers (Nov. 25)
- Source: Bloomberg.
Tue, Nov. 22, 9:17 AM
Tue, Nov. 22, 8:09 AM
- Signet (NYSE:SIG) reports same-store sales fell 2% in Q3 due to under performance in select stores.
- Ecommerce sales rose 2.2% to $51.6M.
- Comp growth by brand: Kay -2.9%, Jared -4.6%, Sterling -3.8%, Zales (total) +0.2%, Zales US Jewelry -1.5%, H.Samuel +1.5%, Ernest Jones +5.7%, UK Jewellers division +3.6%.
- Adjusted gross margin rate dropped 100 bps Y/Y to 29.6%.
- Adjusted SG&A expense rate flat Y/Y at 31.7%.
- Adjusted operating margin rate slipped 20 bps to 3.7%.
- Net inventory down 2.8% Y/Y to $2.6B.
- Store count +70 Y/Y to 3,668.
- Q4 Guidance: Same-store sales: -4% to -2%; Adjusted EPS: $4 to $4.20; Shares outstanding: ~76M.
- FY2017 Guidance: Same-store sales: -2.5% to -1.0%; Adjusted EPS: $7.38 to $7.58; Tax rate: 25% to 26%; Capex: $280M to $320M; Net selling square footage growth +3.0% to +3.5%.
- SIG +8.13% premarket.
Tue, Nov. 22, 6:59 AM
Mon, Nov. 21, 5:30 PM
Wed, Oct. 26, 9:16 AM
Sat, Oct. 8, 9:09 AM
- Retailers want the U.S. election over and quick. The negative tone has created a degree of uncertainty with consumers that has impacted spending and traffic patterns, according to a host of top execs.
- "There is just great uncertainty as to what is going to happen in the U.S. in particular as a result of the outcome of the election," noted Yum Brands (NYSE:YUM) CEO Greg Creed recently. "People may be hunkering down a little bit," he added.
- Expect the topic to be raised on a large number of Q3 earnings calls over the next month to explain away revenue misses.
- It's not an excuse that everyone is buying into. Retail Metrics president Ken Perkins doubts that daily shopping needs are cut short by election fascination and notes consumer confidence is measuring high. Then there's Amazon (NASDAQ:AMZN) which seems to be rolling right along without any Clinton-Trump fatigue.
- Beyond the election wildcard, two underestimated factors impacting some retailers in a more concrete way are the lower level of SNAP (food stamps) benefits being paid out by the government and the elevated cost of health care. There is also the massive challenge with a millennial generation that shuns chains. Just ask anyone in the restaurant sector (NASDAQ:BITE).
- Add it all up and it makes for a challenging period for a mix of retailers that includes Dollar General (NYSE:DG), Dollar Tree (NASDAQ:DLTR), Fred's (NASDAQ:FRED), Ross Stores (NASDAQ:ROST), Wal-Mart (NYSE:WMT), Target (NYSE:TGT), Staples (NASDAQ:SPLS), McDonald's (NYSE:MCD), Popeyes Louisiana Kitchen (NASDAQ:PLKI), Wendy's (NYSE:WEN), Supervalu (NYSE:SVU), Kroger (NYSE:KR), SIgnet (NYSE:SIG), TJX Companies (NYSE:TJX), and Casey's General Stores (NASDAQ:CASY).
- Retail ETFs: XLY, XRT, VCR, RTH, RETL, IYK, FXD, IYC, FDIS, SCC, RCD, UCC, PMR, UGE, SZK, CNDF, FTXD, JHMC.
Wed, Oct. 5, 11:11 AM
- A number of chain store stocks are tracking higher after a number of positive economic reads came in this week. The rally is somewhat limited to apparel store names and specialty retailers.
- Traders may be looking at data from ISM that indicated a solid jump in services sector activity.
- Also yesterday, Redbook reported the first +1% increase in chain store sales since May and the National Retail Federation forecast a solid 3.6% gain in holiday sales.
- Leading sector gainers include Ascena Retail Group (ASNA +7.1%), Chico's FAS (CHS +3.4%), Gap (GPS +3.4%), Abercrombie & Fitch (ANF +2.2%), Stage Stores (SSI +3.6%), Boot Barn (BOOT +0.8%), Express (EXPR +2.1%), and Francesca's (FRAN +2%), Pier 1 Imports (PIR +6%), The Container Store (TCS +4.9%), Restoration Hardware (RH +2.1%), and Signet Jewelers (SIG +3.6%).
Thu, Sep. 29, 10:17 AM
- CLSA issues new ratings updates up and down the retail sector.
- Coach (COH +2%) earns a Buy rating due to sales momentum.
- Tiffany (TIF +0.8%) looks appealing with expectations set low.
- Ralph Lauren (RL +1.7%) lands at Buy with it seen as being in the early stages of a turnaround.
- Catching Outperform ratings are Signet (SIG +0.1%), Oxford Industries (OXM +0.9%), Kate Spade (KATE +1.2%), and G-III Apparel Group (GIII +1.2%).
- A lack of drivers at Michael Kors (KORS -0.6%) brings a Sell rating down from CLSA.
- The investment firm starts off coverage on Carter's (CRI -1.7%) with an Underperform rating and sets a price target of $95 on the retailer.
Tue, Aug. 30, 8:11 AM
Fri, Aug. 26, 8:34 AM
- Signet Jewelers (NYSE:SIG) plans to test new technology to help it confirm the authenticity of diamonds sold by the company.
- CEO Mark Light says the system will track diamonds by their unique markings and will help create a transparent system for customers.
- Signet Jewelers' Earnings Call Transcript (Aug. 25)
Thu, Aug. 25, 12:45 PM
Thu, Aug. 25, 9:16 AM
Thu, Aug. 25, 9:06 AM
- Signet (NYSE:SIG) announces that affiliates of Leonard Gren & Partners will purchase $625M worth of convertible preferred shares. The transaction is expected to close in Q3.
- The company plans to add the proceeds from the PE firm to its buyback allowance which will take it to $1.1B.
- Previously: Signet misses by $0.31, misses on revenue (Aug. 25)
- Previously: Signet sinks after weak results and guidance cut (Aug. 25)
- Shares of Signet are down 9.95% premarket to $85.95, recovering somewhat from the early post-earnings slide.
Thu, Aug. 25, 7:19 AM
- Signet (NYSE:SIG) reports same-store sales fell 2.3% in Q4.
- Comp growth by brand: Kay -0.5%, Jared -7.6%, Sterling -3.1%, Zales (total) -1.7%, Zales US Jewelry -2.2%, H.Samuel -0.4%, Ernest Jones +1.9%, UK Jewellers division +0.8%.
- Adjusted gross margin rate down 130 bps Y/Y to 34.0%.
- Adjusted SG&A expense rate was up 50 bps to 29.7%.
- Adjusted operating margin rate rose 150 bps to 8.7%.
- Net inventory flat at $2.4B.
- Store count +7 Y/Y to 3,625.
- FY17 Guidance: Same-store sales: -2.5% to -1.0%; EPS: $7.25 to $7.55; Net selling square footage growth +3.0% to +3.5%.
- Previously: Signet misses by $0.31, misses on revenue (Aug. 25)
- SIG -14.14% premarket to $82.00.
Thu, Aug. 25, 7:05 AM