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Signet Jewelers has solid Q4

Hamilton, Bermuda – Net income at Signet Jewelers grew 2% to $175.2 million in the fourth quarter of fiscal 2014, compared to $171.8 million in the fourth quarter of the preceding fiscal year. Net sales increased 3% to $1.56 billion from $1.51 billion and same-store sales increased 4%.

During the full fiscal year, net income grew 2% to $368 million from $359.9 million and net sales improved 3% to $4.21 billion from $3.98 billion. Same-store sales rose 4%.

“I would like to thank all Signet associates for their contribution to these results,” said Mike Barnes, CEO of Signet. “In addition, and importantly, in February we negotiated and executed an agreement to acquire the Zale Corporation, which will transform the combined companies after the transaction is closed. The Zale team has done a great job turning its business around, and we are excited about the opportunities of helping to take Zale to the next level."

Signet expects same-store sales in the first quarter of fiscal 2015 to grow 3%-4%.

© 2014