Signet Jewelers Ltd. SIG posted better-than-expected earnings for its fiscal fourth quarter on Thursday, and offered upbeat fiscal 2024 guidance. The company had net income of $268.7 million or $5.02 a share, for the quarter to Jan. 28, compared with $305.7 million, or $4.91 a share, in the year-earlier period. Adjusted per-share earnings came to $5.52, ahead of the $5.43 FactSet consensus. Sales fell to $2.666 billion from $2.811 billion, but beat the FactSet consensus of $2.652 billion. “Our Fiscal 2024 guidance reflects confidence in our ability to deliver an annual double-digit non-GAAP operating margin despite a jewelry retail environment that we estimate will decline mid-single digits through the year,” said Joan Hilson, chief financial, strategy and services officer, in a statement. The company is expecting fiscal 2024 adjusted EPS to range from $11.07 to $11.59, while FactSet is expecting EPS of $11.42. The stock rose 0.9% premarket, but has fallen 13% in the last 12 months, while the S&P 500 SPX has fallen 10.7%.
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