Fourth-quarter sales declined 6% to $2.35 billion from $2.5 billion in the year-ago quarter. Comparable store sales dropped 1.1% year-over-year during the three months.
Net income attributable to common shareholders plunged to $100.6 million or $2.30 per share in the January quarter from $617.6 million or $11.75 per share in the prior-year quarter.
Signet’s CEO J.K. Symancyk said, “Our overall Q4 performance and lack of growth over the past several quarters informed our new strategy to grow our business. This transformative strategy is called ‘Grow Brand Love’ and builds on a strong foundation to create shareholder value.”
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