March 14, 2018 / 10:56 AM / 3 months ago

BRIEF-Signet Jewelers ‍Same Store Sales Declined 5.2% In Q4​

March 14 (Reuters) - Signet Jewelers Ltd:

* Q4 GAAP EARNINGS PER SHARE $5.24

* Q4 NON-GAAP EARNINGS PER SHARE $4.28 EXCLUDING ITEMS

* ‍PROVIDES FISCAL 2019 GUIDANCE FOR SAME STORE SALES DOWN LOW-TO-MID SINGLE DIGITS​

* SIGNET JEWELERS - PROVIDES FISCAL 2019 GUIDANCE FOR SAME STORE SALES DOWN LOW-TO-MID SINGLE DIGITS, TOTAL SALES OF $5.9 BILLION -$6.1 BILLION

* Q4 TOTAL SALES WERE $2.3 BILLION, UP $23.2 MILLION OR 1.0%, IN THE 14 WEEKS ENDED FEBRUARY 3, 2018 ‍​

* ‍”FISCAL 2018 WAS A CHALLENGING YEAR FOR SIGNET”​

* ‍INCREASES QUARTERLY DIVIDEND BY 20% TO $0.37 PER SHARE​

* SEES FISCAL 2019 GAAP DILUTED EPS OF $0.00 - $0.60 AND NON-GAAP DILUTED EPS OF $3.75 - $4.25

* SIGNET JEWELERS - ‍AGREEMENT TO SELL NON-PRIME IN-HOUSE CREDIT CARD RECEIVABLES

* SIGNET JEWELERS - ENTERS 5-YEAR COMMITTED FORWARD FLOW PURCHASE PROGRAM FOR FUTURE ORIGINATIONS​

* PROVIDES FISCAL 2019 GUIDANCE FOR SAME STORE SALES DOWN LOW-TO-MID SINGLE DIGITS‍​

* ‍EXPECTS TO GROW ITS DIGITAL SALES AS A PERCENTAGE OF TOTAL REVENUES TO AT LEAST 15% IN FISCAL YEAR 2021​

* SIGNET JEWELERS - ‍WILL SELL NON-PRIME CREDIT RECEIVABLES TO INVESTMENT FUNDS MANAGED BY CARVAL INVESTORS

* PROVIDES FISCAL 2019 GUIDANCE FOR, TOTAL SALES OF $5.9 BILLION -$6.1 BILLION, GAAP DILUTED EPS OF $0.00 - $0.60 ‍​

* ‍IN FISCAL 2019, TRANSFORMATION PLAN IS EXPECTED TO DELIVER NET COSTS SAVINGS OF $85 MILLION - $100 MILLION​

* ‍A MAJORITY OF FISCAL 2019 SAVINGS ARE EXPECTED TO BE REALIZED IN SECOND HALF OF FISCAL YEAR​

* Q4 EARNINGS PER SHARE VIEW $4.25 — THOMSON REUTERS I/B/E/S

* Q4 REVENUE VIEW $2.24 BILLION — THOMSON REUTERS I/B/E/S

* SIGNET JEWELERS - NON-PRIME CREDIT RECEIVABLES SALE EXPECTED TO RESULT IN $401 MILLION - $435 MILLION OF PROCEEDS INCLUDING SERVICING EXPENSE ON RECEIVABLES​

* ANTICIPATES TO CLOSE MORE THAN 200 STORES BY END OF FISCAL 2019

* Q4 EARNINGS PER SHARE VIEW $4.25, REVENUE VIEW $2.24 BILLION — THOMSON REUTERS I/B/E/S

* CO WILL PROVIDE A ONE-TIME SPECIAL CASH AWARD TO ALL HOURLY NON-MANAGERIAL TEAM EMPLOYEES IN FISCAL 2019‍​

* ‍EXPECTS TO RECLASSIFY NON-PRIME CREDIT RECEIVABLES TO ASSETS HELD FOR SALE IN Q1 OF FISCAL 2019​

* ‍ESTIMATED PAR VALUE OF RECEIVABLES AT CLOSING OF SALE IS $585 MILLION TO $635 MILLION​

* ‍EXPECT TO INCUR $7 MILLION IN TRANSACTION COSTS RELATED TO NON-PRIME CREDIT RECEIVABLES​

* ‍INTENDS TO USE PROCEEDS FROM SALE OF ITS NON-PRIME RECEIVABLES TO REPURCHASE SHARES IN FISCAL 2019​

* COST REDUCTION ACTIONS ARE EXPECTED TO DELIVER $200 MILLION - $225 MILLION OF NET COST SAVINGS OVER NEXT 3 FISCAL YEARS

* IN FISCAL 2019, “TRANSFORMATION PLAN” IS EXPECTED TO DELIVER NET COSTS SAVINGS OF $85 MILLION - $100 MILLION‍​

* ‍ESTIMATED THAT $140 MILLION LOSS WILL BE RECOGNIZED IN Q1 FISCAL 2019 RELATED TO SALE OF ITS NON-PRIME CREDIT RECEIVABLES​

* A MAJORITY OF THE FISCAL 2019 SAVINGS ARE EXPECTED TO BE REALIZED IN THE SECOND HALF OF THE FISCAL YEAR‍​

* ‍TOTAL LOSS RELATED TO NON-PRIME CREDIT RECEIVABLES​ DEAL IS ESTIMATED TO BE $165 MILLION TO $170 MILLION Source text: (bit.ly/2tR5llg) Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below