Hamilton, Bermuda Signet Jewelers said Thursday it posted a profit of $117.2 million in the fiscal fourth quarter after a jump in January sales.
Its net income compared with a loss of $424 million for the same period a year ago.
For the full fiscal year, Signet earned $164.1 million, compared with a loss of $393.7 million in the prior year.
Signet operates 1,400 stores in the United States, including Kay Jewelers and Jared The Galleria of Jewelry.
The company said it will open stores at a slower rate this year and close fewer stores than last year, resulting in an overall decline in store space.