3/29/13

The web grows 41% for Signet Jewelers

U.S. e-commerce sales in fiscal 2013 increase 48%.

Mark Brohan , Research Director

It was a mix of strong growth online in the U.S. and the United Kingdom that helped Signet Jewelers Ltd. end fiscal 2013 with robust e-commerce sales.

For the fiscal year ended Feb. 2, Signet, No. 188 in the 2012 Internet Retailer Top 500 reported:

The web accounted for 3.3% of sales compared to 2.5% in fiscal 2012.

“One of the strongest initiatives that I have been driving in the last couple of years is e-commerce,” CEO Michael Barnes told analysts on the company’s recent year-end earnings call.  “And when you look at the growth, the long-term growth that we've had there, it's pretty astounding.”

For the fourth quarter:

The web accounted for 4.2% of sales compared to 3.2% in Q4 fiscal 2012.

“I believe everything we're doing from a digital standpoint will continue to drive forward and we can expect to see continued gains in that area,” Barnes told analysts.

Signet Jewelers operates such jewelry e-commerce sites as Kay.com, Jared.com, hsamuel.co.uk and ernestjones.co.uk.

Topics:

e-commerce, Jared.com, jewelry, Kay.com, Michael Barnes, Signet Jewelers, Top 500, web sales

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