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Hamilton, Bermuda—Signet Jewelers Limited (NYSE:SIG), the world's largest retailer of diamond jewelry, announced preliminary sales for the nine weeks ended January 1, 2022, with same-store sales up more than 25% and revenue growth over 30%. Image: A Jared store, Signet's upscale division in the United States.

CEO Virginia C. Drosos said, "We're driving strong traction on our key initiatives including our differentiated banner value propositions and a step change in Connected Commerce capabilities, allowing us to serve customers whenever and wherever they choose to shop with us. We are confident in our strategy and believe we are building sustainable advantages to continue to outpace growth in the jewelry category, gain share and expand operating margin over time. Our Signet team is highly engaged, and I'm very proud of their agility, innovation and focus on accelerating our strategic initiatives and purpose."

"We are raising guidance to reflect our strong holiday performance," said Joan Hilson, Signet’s chief financial & strategy officer. "We delivered operating margin expansion as our strategy drove higher traffic and strong conversion with effective promotion and cost management."

Signet's preliminary total sales for the 2021 holiday season were $2.4 billion, up 30.4% over the prior year. Preliminary same store sales grew 25.2% year over year and 35.1% on a two-year basis, across all banners and merchandise categories. Ecommerce sales were up $52.1 million year over year and brick and mortar sales were up $499.9 million. By region:

In North America, total revenue was $2.2 billion, up 30.2% YOY and up 33.1% from 2019. Ecommerce sales increased 17.7% YOY and 85.4% vs 2019, while brick and mortar sales increased 33.6% and 24.7%, respectively. Same-store sales grew 24.8% YOY and 37.8% over 2019, while the number of transactions rose 8.0% year on year and average transaction value increased 16.3%.

January sales have remained strong in the high single digits. Signet operates approximately 2,800 stores around the world, primarily under the banners of Kay Jewelers, Zales, Jared, H. Samuel, Ernest Jones, Peoples, Piercing Pagoda, JamesAllen.com, Diamonds Direct ,and the jewelry subscription service, Rocksbox.  Further information on Signet is available at www.signetjewelers.com.