Signet Jewelers Ltd. Files 10-Q for Q2 2024
Ticker: SIG · Form: 10-Q · Filed: Sep 12, 2024 · CIK: 832988
Sentiment: neutral
Topics: 10-Q, quarterly-report, retail
TL;DR
Signet Jewelers filed its Q2 10-Q. Check financials.
AI Summary
Signet Jewelers Ltd. filed its 10-Q for the period ending August 3, 2024. The company reported financial results and provided updates on its business operations. Key financial data and operational details are included in this filing.
Why It Matters
This filing provides investors and analysts with a detailed look at Signet Jewelers' financial health and performance during the second quarter of fiscal year 2024.
Risk Assessment
Risk Level: medium — This is a routine quarterly filing providing standard financial disclosures.
Key Numbers
- 2025 Q2 — Fiscal Quarter (Indicates the reporting period is the second quarter of fiscal year 2025.)
- 02/01 — Fiscal Year End (Signet Jewelers' fiscal year ends on February 1st.)
Key Players & Entities
- SIGNET JEWELERS LTD (company) — Filer
- 20240803 (date) — Period of Report
- 20240912 (date) — Filed as of Date
- 0000832988 (company) — Central Index Key
FAQ
What is the reporting period for this 10-Q filing?
The period of report is 20240803, which corresponds to the second quarter of fiscal year 2024.
What is the Central Index Key for Signet Jewelers Ltd.?
The Central Index Key for Signet Jewelers Ltd. is 0000832988.
When was this 10-Q filing submitted?
This filing was submitted on 20240912.
What is Signet Jewelers' Standard Industrial Classification code?
Signet Jewelers' Standard Industrial Classification code is [5944] for RETAIL-JEWELRY STORES.
What is the fiscal year end date for Signet Jewelers?
Signet Jewelers' fiscal year ends on 0201.
Filing Stats: 4,982 words · 20 min read · ~17 pages · Grade level 6 · Accepted 2024-09-12 09:25:22
Key Financial Figures
- $0.18 — e on which Registered Common Shares of $0.18 each SIG The New York Stock Exchange
Filing Documents
- sig-20240803.htm (10-Q) — 2122KB
- fy25q2exhibit102.htm (EX-10.2) — 2818KB
- fy25q2exhibit311.htm (EX-31.1) — 9KB
- fy25q2exhibit312.htm (EX-31.2) — 9KB
- fy25q2exhibit321.htm (EX-32.1) — 5KB
- fy25q2exhibit322.htm (EX-32.2) — 5KB
- 0000832988-24-000192.txt ( ) — 13475KB
- sig-20240803.xsd (EX-101.SCH) — 48KB
- sig-20240803_cal.xml (EX-101.CAL) — 92KB
- sig-20240803_def.xml (EX-101.DEF) — 213KB
- sig-20240803_lab.xml (EX-101.LAB) — 648KB
- sig-20240803_pre.xml (EX-101.PRE) — 465KB
- sig-20240803_htm.xml (XML) — 2100KB
Financial Statements (Unaudited)
Financial Statements (Unaudited) Condensed Consolidated Statements of Operations 3 Condensed Consolidated Statements of Comprehensive ( L oss ) Income 4 Condensed Consolidated Balance Sheets 5 Condensed Consolidated Statements of Cash Flows 6 Condensed Consolidated Statements of Shareholders' Equity 7 Notes to the Condensed Consolidated Financial Statements 8 ITEM 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 24 ITEM 3.
Quantitative and Qualitative Disclosures about Market Risk
Quantitative and Qualitative Disclosures about Market Risk 37 ITEM 4.
Controls and Procedures
Controls and Procedures 38 PART II OTHER INFORMATION ITEM 1.
Legal Proceedings
Legal Proceedings 39 ITEM 1A.
Risk Factors
Risk Factors 39 ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds 39 ITEM 5. Other Information 39 ITEM 6. Exhibits 40 Table of Contents
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
FINANCIAL STATEMENTS
ITEM 1. FINANCIAL STATEMENTS SIGNET JEWELERS LIMITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) 13 weeks ended 26 weeks ended (in millions, except per share amounts) August 3, 2024 July 29, 2023 August 3, 2024 July 29, 2023 Notes Sales $ 1,491.0 $ 1,613.6 $ 3,001.8 $ 3,281.6 3 Cost of sales ( 924.7 ) ( 1,002.8 ) ( 1,863.1 ) ( 2,038.8 ) Gross margin 566.3 610.8 1,138.7 1,242.8 Selling, general and administrative expenses ( 498.4 ) ( 511.2 ) ( 1,013.8 ) ( 1,041.6 ) Asset impairments, net ( 166.2 ) ( 3.8 ) ( 168.6 ) ( 5.6 ) 12 Other operating expense, net ( 2.6 ) ( 5.6 ) ( 7.4 ) ( 3.7 ) 17 Operating (loss) income ( 100.9 ) 90.2 ( 51.1 ) 191.9 4 Interest income, net 2.4 1.8 11.0 7.4 Other non-operating income (expense), net 1.6 0.3 1.8 ( 0.1 ) (Loss) income before income taxes ( 96.9 ) 92.3 ( 38.3 ) 199.2 Income taxes ( 1.6 ) ( 17.2 ) ( 8.1 ) ( 26.7 ) 9 Net (loss) income $ ( 98.5 ) $ 75.1 $ ( 46.4 ) $ 172.5 Dividends on redeemable convertible preferred shares ( 3.0 ) ( 8.6 ) ( 95.2 ) ( 17.2 ) 5, 6 Net (loss) income attributable to common shareholders $ ( 101.5 ) $ 66.5 $ ( 141.6 ) $ 155.3 Earnings (loss) per common share: Basic $ ( 2.28 ) $ 1.47 $ ( 3.17 ) $ 3.43 7 Diluted $ ( 2.28 ) $ 1.38 $ ( 3.17 ) $ 3.17 7 Weighted average common shares outstanding: Basic 44.5 45.2 44.6 45.3 7 Diluted 44.5 54.3 44.6 54.5 7 The accompanying notes are an integral part of these condensed consolidated financial statements. 3 Table of Contents SIGNET JEWELERS LIMITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME (Unaudited) 13 weeks ended August 3, 2024 July 29, 2023 (in millions) Pre-tax amount Tax (expense) benefit After-tax amount Pre-tax amount Tax (expense) benefit After-tax amount Net (loss) income $ ( 98.5 ) $ 75.1 Other comprehensive income: Foreign currency translation adjustments $ 3.8 $ — $ 3.8 $ 7.8 $ — $ 7.8 Available-for-sale securities: Unrealized loss — — — ( 0.1 )