Reported 8 months ago
Signet Jewelers' stock plunged 14.9% after beating estimates but showing weakness in first-quarter earnings, with same-store sales down 8.9% due to macroeconomic challenges and competitive discounting. Despite the decline, Signet plans for sales growth in the second half, particularly in fashion and bridal segments driven by lab-grown diamonds. With shares now 15% cheaper and a promising outlook, investors are advised to look past the weak results and consider taking advantage of the recent sell-off.
Source: YAHOO