Diamond Jewelry Retailer Signet Outshines Q2 Estimates; Expects Engagements To Begin Their Recovery
Portfolio Pulse from Shivani Kumaresan
Signet Jewelers Ltd (NYSE:SIG) reported a Q2 FY24 sales decline of 8.1% YoY to $1.61 billion, beating the analyst consensus of $1.58 billion. The company's Board declared a quarterly cash dividend of $0.23 per share. Signet expects Q3 sales of $1.36 billion - $1.41 billion, versus the consensus of $1.4 billion. The company raised its FY24 adjusted EPS outlook from $9.49 - $10.09 to $9.55 - $10.14, against the Street view of $9.42. SIG shares are trading higher by 1.60% at $72.60 in premarket.
August 31, 2023 | 12:40 pm
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Signet Jewelers reported better than expected Q2 results and raised its FY24 adjusted EPS outlook. The company's shares are trading higher in premarket.
Signet Jewelers reported a Q2 sales decline of 8.1% YoY, but still managed to beat the analyst consensus. The company also declared a quarterly cash dividend and raised its FY24 adjusted EPS outlook. These positive financial results and future outlook are likely to have a positive impact on the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100