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Summary
- Jewelry retailer Signet doubled its revenue in Q1 and lifted fiscal 2022 outlook.
- Home improvement retailer RH expects full-year revenue to grow up to 30%.
Stocks of Signet Jewelers Limited (NYSE:SIG) and RH (NYSE:RH) rallied as much as 22 percent and 16 percent respectively on Thursday’s trading after the companies reported their first-quarter results that exceeded their estimates.
Jewelry retailer Signet raised its fiscal 2022 outlook as it doubled the revenue in the first quarter. Home furnishing retailer RH also provided improved guidance following the strong results.
Signet Jewelers Limited (NYSE:SIG)
The Bermuda-based jewelry retailer now projects its fiscal 2022 same-store sales to increase between 24 percent and 27 percent. Total revenue is forecasted in the range of US$6.50 billion to US$6.65.
In the fiscal first quarter ended May 1, Signet saw its revenue double to US$1.68 billion from the previous year’s figure as same-store sales surged 106.5 percent. In addition, e-commerce sales jumped 110.3 percent.
The company posted a GAAP EPS of US$2.23 against a loss of US$3.96 in the year-ago quarter. Non-GAAP earnings also totaled US$2.23 per share.
In addition, Signet’s board approved reinstatement dividend in the second quarter and declared a quarterly dividend of 18 cents per share.
READ MORE: Target’s Stock Up 4% On Strong Q1 Earnings
RH (NYSE:RH)
The California-based company lifted its revenue growth forecast for the full year to the range of 25 percent to 30 percent. Previously, it expected growth between 15 percent and 20 percent.
RH posted a 78 percent growth in its fiscal first-quarter net revenue to US$860.8 million from US$482.9 million in the previous year quarter.
Net income came in at US$130.7 million, or US$4.19 per share, compared to a net loss of US$3.2 million, or 17 cents per share. Adjusted net income soared 375 percent year over year to US$142.3 million.
RH Chairman and CEO Carpe Diem said the company expects the strong performance to continue in the second half and further accelerate in the next fiscal year.
READ MORE: Trending Retail Stocks: Dick’s Sporting, Urban Outfitters, Nordstrom
Source: Pixabay
Stock Performance
Signet’s market value totaled US$3.641 billion. The stock price surged 518 percent during the last one-year period while it jumped 153 percent this year. The stock jumped up to US$74.75 from a low of US$9.71 in 52-weeks.
Signet shares closed at US$69.58, 3.99 percent on Thursday.
Meanwhile, RH’s stock has a total value of US$14.871 billion on the New York Stock Exchange. The stock returned 204 percent in one year and is up 57 percent year to date. In the 52-week period, shares rallied to US$733.05 from a low of US$226.82.
RH shares ended Thursday’s trading at US$ 707.14, up 15.67 percent.
