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Signet Jewelers Raises First Quarter And Full Year Guidance
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HAMILTON, Bermuda, April 12, 2021 /PRNewswire/ Signet Jewelers Limited ( Signet ) (NYSE:SIG), the world s largest retailer of diamond jewelry, today is increasing its Fiscal 2022 first quarter and full year guidance.
Signet has seen stronger than expected conversion and average ticket values in the first quarter. The Company believes this topline strength is likely due to a combination of traction from strategic initiatives as well as tailwinds from stimulus, tax refunds and consumer enthusiasm on the heels of vaccine rollouts – particularly during the Company s guest appreciation events in late March.
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Dive Brief:
Signet Jewelers on Tuesday announced the acquisition of Rocksbox, a jewelry rental subscription platform, for an undisclosed amount.
Rocksbox is an online retail and rental service, as subscribers can return merchandise after a time, with shipping free both ways, or opt to buy it.
The move expands Signet beyond its largely mall-based fleet of 2,800 stores, which operate under the banners Kay Jewelers, Zales, Jared, H.Samuel, Ernest Jones, Peoples, Piercing Pagoda and James Allen.
Dive Insight:
Signet Jewelers appeared to benefit from the extra cash many consumers had toward the end of last year, after some infusion of stimulus and months of spending much less on on things like entertainment and clothes.
Signet Jewelers Boosts Services Offerings with Acquisition of Rocksbox, the Leading Jewelry Rental Subscription Platform prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.