Signet Jewelers Expects Q2 Total Sales Of $1.53B-$1.58B, Consensus $1.75B
Portfolio Pulse from Benzinga Newsdesk
Signet Jewelers expects Q2 total sales to be between $1.53B and $1.58B, lower than the consensus estimate of $1.75B. The company cites a recent deceleration of trends, a softer than expected Mother's Day, increasing macro-economic pressures on consumers, and deeper competitive discounting.
June 08, 2023 | 10:54 am
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Signet Jewelers' lower than expected Q2 sales forecast may negatively impact its stock price in the short term.
Signet Jewelers' Q2 sales forecast is significantly lower than the consensus estimate, which may lead to a negative market reaction and put downward pressure on the stock price in the short term. The company's cited reasons, such as a softer Mother's Day, macro-economic pressures, and competitive discounting, indicate potential challenges in the near future.
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