Signet plans to close 100 stores in coming year

Signet Jewelers has announced that its planning around 100 store closures this coming fiscal year.

It released its final results yesterday morning, which were broadly in line with its preliminary fourth-quarter and full-year results that it shared last week.

For the quarter that ended January 31, Signet’s sales were flat year-on-year at $2.35 billion, while for the full year, sales were up 2% year-on-year to $6.81 billion.

“We delivered at the high end of our fiscal 2026 guidance range amid unprecedented tariffs, record gold costs, and a measured consumer,” said the company’s buoyant CEO J.K. Symancyk.

“As we started with positive sales momentum, fiscal 2027 will focus on accelerating core performance through sharper brand differentiation, broader customer reach, and a more seamless in-store and digital experience.”

Part of its streamlining plan will be to close about 4% of its 2,600 store locations, although chief operating and financial officer Joan Hilson stressed that its UK brands — Ernest Jones and H. Samuel — are performing well and that there are no current plans to sell them.