Signet Jewelers Limited: Initiation of Coverage – Is The  Focus on eCommerce Performance Bearing Fruit? 

Signet Jewelers reported its Fourth Quarter Fiscal 2024 Earnings, sharing various critical updates about the company’s performance and future outlook. The company posted sales of $2.5 billion for the quarter, reflecting a decrease of approximately 6% compared to the same period last year. Still, it maintained a strong average transaction value even as industry peers were dealing with heavy declines. Despite the drop in sales, Signet Jewelers generated non-GAAP gross margin, which expanded by 170 basis points compared to last year.