Categories AlphaGraphs, Earnings, Other Industries
Infographic: Key highlights of Signet Jewelers (SIG) Q1 2021 earnings
Signet Jewelers Limited (NYSE: SIG) reported its financial results for the quarter ended May 2, 2020, on Tuesday before the market opens. The results are preliminary due to the pending long-lived non-cash assets impairment review necessitated by the COVID-19 pandemic.
The first-quarter 2021 same-store sales plunged by 38.9% reflecting the temporary closure of all stores beginning in late March due to the COVID-19 pandemic. The company posted a wider loss due to the inclusion of impairment charges against long-lived assets. The total sales dropped by 40.5% year-over-year.
ECommerce sales rose by 6.7%. Excluding the temporary James Allen distribution center shut-down, eCommerce sales grew 18.2%. Signet’s virtual selling efforts led to accelerating consumer demand, with eCommerce growth of 55% in April, excluding the James Allen center impact, and the momentum continued into May.
Consistent with the year-end messaging, Signet’s Board has elected to temporarily suspend the dividend program on the common shares and has elected to pay the August quarterly dividend on its preference shares in kind. The company is not providing fiscal 2021 financial guidance at this time due to the continuing level of uncertainty in the current environment.
Take a look at our Other Industries articles here
Most Popular
Infographic: Highlights of Halliburton’s (HAL) Q1 2024 earnings results
Energy giant Halliburton Company (NYSE: HAL) Tuesday announced financial results for the first quarter of 2024, reporting lower earnings and a modest increase in revenues. First-quarter revenue edged up 2%
UPS Earnings: United Parcel Service Q1 2024 revenue and earnings fall
United Parcel Service, Inc. (NYSE: UPS) Tuesday reported lower revenues and adjusted profit for the first quarter of 2024. The company reaffirmed its full-year 2024 guidance. On an adjusted basis,
Key highlights from Philip Morris’ (PM) Q1 2024 earnings results
Philip Morris International Inc. (NYSE: PM) reported first quarter 2024 earnings results today. Net revenues increased 9.7% year-over-year to $8.8 billion. Organic revenue growth was 11%. Net earnings attributable to