Signet Jewelers company expects that in the next fiscal year, its sales will decline due to the fall of competitiveness against the background of changing consumer behavior.
"We adapt to the challenging retail conditions and reduced attendance of shopping centers," - said Mark Layt (Marc Light), Chief Executive Officer of Signet.
The Company expects that the growth of same-store sales in the 2018 fiscal year will decrease to an average or lower boundary of the unambiguous range.
Group sales fell by 5% to $ 2.27 billion in the fourth quarter, which ended January 28, while sales decreased by 4.5% in comparable stores. Net income increased by 9% to $ 297.5 million mainly due to spending cuts and tax cuts.
Sales fell in the majority of categories of goods and collections, it was especially noticeable in the shopping centers, according to Signet. The choice of categories has been successful, high demand was observed including diamond jewelry.
Independent buying women stimulated sales in the category of fashion jewelry, Light adds.
Signet annual volume of sales fell by 2% to $ 6.41 billion, while net profit rose 16% to $ 531.2 million for the fiscal year that ended on 28 January.
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Mahesh Khemlani (Mahesh Khemlani), President of the Panama Diamond Exchange (Panama Diamond Exchange, PDE), and Ali Pastorini (Ali Pastorini), vice president of PDE, make a trip to the Middle East countries in the framework of the international program demonstration PDE opportunities aimed at the creation of global relations with the subjects of global trade of the Latin American dealers in precious stones and jewelery, which are working on the World Jewelry center in Panama (World Jewelry Hub).
As the press-service of the PDE, Pastorini visiting Istanbul on May 11-12, where it meets with the leaders and representatives including regional Turkish jewelry industry. Pastorini receives Istanbul goldsmith chamber (Istanbul Chamber of Jewelry).
Vice President PDE then arrive in Dubai, United Arab Emirates, where she will work with Khemlani be in the period May 14-19. Exchange Management plans to meet with the companies that are represented in the center of Dubai Commodities (Dubai Multi Commodities Centre, DMCC) and are interested in expanding in the markets of Latin America. PDE Guide will also take part in the Congress of the World Federation of Diamond Bourses (World Federation of Diamond Bourses, WFDB ), which will be held in Dubai from 16 to 19 May.
"There is the potential, and that we plan our meetings, - to link buyers and sellers interested in developing trade relations with both large companies and to individual traders in Latin America," - said in this connection Khel.
"We are developing our business relationships with centers in Turkey and Dubai for the past many months, and received a lot of positive feedback. Both airlines Turkish Airlines and Emirates are now launching regular air transportation in Panama, which facilitates the movement of people, goods and services between our countries ", - he said, in turn, Pastorini.
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