Signet Jewelers, the world’s largest retailer of diamond jewelry, announced the results for the third quarter (the 13 weeks ended October 29, 2022), reporting sales of $1.6 billion – up $44.9 million or 2.9% “to unusually heightened sales in Q3 of FY22 […]”.
The rise was attributed in part to “government benefit programs and the company’s strategic transformation including marketing initiatives.” The figure represents a rise of 33.3% vs. Q3 of FY20. Same store sales down 7.6% to Q3 of FY22.
Virginia C. Drosos, Saignet’s CEO, commented: “Our strong third quarter results exceeded guidance and evidence why we believe Signet is uniquely positioned to deliver consistent market share growth and value creation.”
She added that Signet has acquired “22.5 million new customers over the past five years” – “younger, more affluent and highly diverse with meaningful lifetime purchasing power.”
