"We have not completed the year as strongly as expected due to a highly competitive sales environment, continued consumer weakness in the UK and lower than expected customer demand for old commodity collections affecting our holiday fourth quarter results," CEO Virginia C. Drosos said in a declaration.
For the fourth quarter of 2019, completed on February 2, the same store sales fell by 2%. For the year, they fell 0.1%. On Wednesday, Signet said it expects in fiscal policy 2020 that the same store will fall between a range of 2.5% and downward. It expects total sales of $ 6 billion.
Year to date, Signets shares are down to 1
As part of its planned turnaround, Signet has been focusing more on products, marketing and online business.