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Signet Jewelers Q3 Earnings Guidance Weak, Shares Fall Sharply

Although Signet Jewelers Inc.’s (NYSE: SIG) fiscal second-quarter revenue rose 3% and core earnings topped analysts’ expectation, shares fell sharply on Wednesday as women accessories provider’s guidance for the current quarter fell short of Street’s expectation. Revenue in the latest period also missed Wall Street’s expectation, mainly due to its disappointing performance in the U.K. Online sales jumped 29% in the fiscal second quarter while overall sales improved in the U.S. For the current quarter, Signet anticipates earnings of 37 cents to 43 cents while analysts’ expectation was for 48 cents a share.

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