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Signet Jewelers Issues FY20 Guidance; Maintains Quarterly Dividend - Quick Facts

Signet Jewelers Limited (SIG), a retailer of diamond jewelry, announced, for fiscal 2020, the company expects: non-GAAP EPS of $2.87 - $3.45; total sales of $6.0 billion - $6.1 billion; and same store sales to be in the range of a decline of 2.5% to flat. Analysts polled by Thomson Reuters expect the company to report profit per share of $3.12 on revenue of $6.1 billion. Analysts' estimates typically exclude special items.

The company plans to close more than 150 stores in fiscal 2020 and open 20-25 stores, for a net selling square footage decline of approximately 2.5% - 3.5%.

For the first-quarter, Signet projects: a non-GAAP loss per share of $0.28 - $0.17; total sales of $1.42 billion - $1.44 billion; and a same store sales decline in a range of 1.5% - 0.5%. Analysts polled by Thomson Reuters expect the company to report a loss per share of $0.14 on revenue of $1.43 billion.

For the fourth-quarter, non-GAAP EPS was $3.96 compared to $4.28, prior year. On average, 10 analysts polled by Thomson Reuters expected the company to report profit per share of $3.82 for the quarter. Total sales were $2.15 billion, down 6.0%, in the 13 weeks ended February 2, 2019 on a reported basis and down 5.4% on a constant currency basis. Same store sales decreased 2.0%, for the quarter. Analysts expected revenue of $2.14 billion, for the quarter.

Signet's Board declared a quarterly cash dividend of $0.37 per share for the first quarter of fiscal 2020, payable on May 31, 2019 to shareholders of record on May 3, 2019, with an ex-dividend date of May 2, 2019.

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