Signet Out with Results

Signet Jewelers Ltd. (NYSE:SIG) reported fourth-quarter and full-year results Thursday.

The Hamilton, Bermuda-based company, the world's largest retailer of diamond jewelry, revealed fourth-quarter same store sales grew 2.3% with North America same store sales up 2.9%

GAAP diluted earnings per share of $3.14, including the impact of restructuring charges and resolution of previously disclosed litigation. Non-GAAP diluted EPS of $3.67

Same store sales grew 0.6% in the fiscal year. GAAP diluted EPS of $1.40, including the impact of a non-cash impairment charge related to goodwill and intangibles, restructuring charges, and resolution of previously disclosed litigation. Non-GAAP diluted EPS of $3.88. Operating cash flow of $555.7 million and free cash flow of $419.4 million

Said CEO Virginia Drosos, "While it is difficult in the current environment to reflect on the past, it’s important to consider where we’ve been and look ahead with the expectation of recovery. Prior to this crisis, our Signet team delivered results ahead of expectations for the fourth quarter and Fiscal 2020. Moreover, we delivered our best overall holiday business performance in four years.

"As we entered Fiscal 2021, our momentum from holiday continued, including a strong Valentine’s Day selling period, validating that the strategic initiatives and investments we made in the first two years of our Path to Brilliance transformation are delivering results"

Shares opened a tumultuous Thursday well on the upside $1.50, or 20.5%, to $8.83.