Signet Jewelers Limited (SIG) reported that its fourth-quarter net income increased to $171.8 million or $2.12 per share from $156.6 million or $1.79 per share in the year ago quarter.
Quarterly sales were $1.51 billion up 11.8% from $1.35 billion in the year ago quarter.Same store salesincreased 3.5% compared to an increase of 6.9% in the fourth quarter Fiscal 2012. eCommerce sales were $63.9 million compared to $43.5 million in the fourth quarter Fiscal 2012, up $20.4 million or 46.9%.
Analysts polled by Thomson Reuters expected the company to report earnings of $ 2.09 per share on revenues of $1.49 billion for the quarter. Analysts' estimates typically exclude special items.
For the first-quarter, the company expects earnings per share to be in the range of $1.07 to $1.12. Same store sales are expected to be positive 5% to 7%. Analysts expect the company to report earnings of $1.12 per share for the first-quarter.
Capital spending for Fiscal 2014 is anticipated to be $180 million to $195 million. The growth in capital spending supports new stores, remodels, the Ultra integration, and multi-channel and IT infrastructure investment. Signet anticipates opening 65 to 75 new US-based stores for the year.
The company said that its board declared the first quarter of fiscal 2014 dividend of $0.15 per common share, a 25% increase from the prior year dividend of $0.12 per common share. The dividend will be payable on May 29, 2013 to shareholders of record on May 3, 2013, with an ex-dividend date of May 1, 2013.
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