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
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.