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| 8-K - FORM 8-K - SIGNET JEWELERS LTD | d466617d8k.htm |
 1
Calendar Shift Impact
Calendar Shift Impact
FY2014 –
FY2014 –
February 3, 2013 to February 1, 2014
February 3, 2013 to February 1, 2014
As Fiscal 2014 (the 52 weeks ending February 1, 2014
“FY2014”) is the year after a 53 week year (53 weeks
ending February 2, 2013 “FY2013), the comparable store sales calculation will follow
the National Retail Federation guidelines available on its
website. In addition, there are several timing related
considerations which will impact quarterly results and should be taken into account when
forecasting Signet’s business.
1. Expenses relative to Valentine’s Day will be split
between fourth quarter FY2013 and first quarter of FY2014 due
to the Valentine’s calendar. The sales from a Mother’s Day
promotional event will shift into first quarter of FY2014 from the
second quarter last year, increasing first quarter FY2014 sales
and profit. We will provide our first quarter FY2014
outlook when we release our FY2013 results on March 28, 2013.
2. Second quarter FY2014 will be challenging due to the
Mother’s Day event shifting back to first quarter and we
expect EPS growth will be minimal in this quarter. 3. Third
quarter FY2014 has no unusual calendar events to impact the comparison of FY2013 unlike
the more difficult comparison of third quarter FY2013 to FY2012 when
there was the Jared watch promotion,
and
we
currently
believe
results
should
improve
slightly.
4. Fourth
quarter
FY2014
will
not
have
the
sales
or
profit
impact
of
FY2013
53
rd
week;
and
the
timeframe between Thanksgiving and Christmas will compress from 32
days to 26, which will again alter
buying patterns during the holiday season. Exhibit 99.1
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