Shares of Signet Jewelers (SIG -23.32%) were taking a dive after the company gave a disappointing update to the key holiday quarter and cut its forecast for the fourth quarter.As a result, the stock was down 25.6% on the news as of 11:47 a.m. ET. Signet comes up shortSignet, which is the world's largest retailer of diamond jewelry, said that same-store sales were down 2% through the first 10 weeks of the quarter, which ended on Jan. 11.The company now expects same-store sales to decline 2% to 2.5% for the f ...

Signet Jewelers Investigation - Block & Leviton is investigating Signet Jewelers Ltd (NYSE: SIG) for potential securities law violations following a significant drop in share price [2] - Signet Jewelers' shares fell over 20% in intraday trading on January 14, 2025, after disappointing holiday sales and reduced full-year guidance [4] - The company's performance contrasts with optimistic remarks made during its December 5, 2024, earnings call, where management expressed confidence in holiday strategy and consumer demand [4] Investor Eligibility - Investors who purchased Signet Jewelers common stock and experienced a decline in share value may be eligible to participate in the investigation, regardless of whether they have sold their investment [3] Block & Leviton's Role - Block & Leviton is investigating whether Signet Jewelers committed securities law violations and may file an action to recover losses on behalf of affected investors [5] - The firm is recognized as a leading securities class action firm, having recovered billions of dollars for defrauded investors through active litigation in federal courts [8] Whistleblower Information - Individuals with non-public information about Signet Jewelers are encouraged to assist in the investigation or file a report with the SEC under the whistleblower program, which may offer rewards of up to 30% of any successful recovery [7] Next Steps for Investors - Investors who have lost money on their Signet Jewelers investment should contact Block & Leviton via their case website, email, or phone to learn more about potential recovery options [6]

Company Performance - Shares of Signet Jewelers (SIG) plunged 22% after the company cut its guidance due to weak holiday demand [1] - Signet's preliminary same-store sales for the 10 weeks ending Jan 11 were down about 2% [1] - The company lowered its fourth-quarter sales estimate to $2.32 billion to $2.335 billion from the previous outlook of $2.38 to $2.46 billion [2] - Signet sees same-store sales down 2.5% to 2.0%, reduced from the earlier prediction of flat to 3% higher [2] - Signet Jewelers shares sank to their lowest level since October 2022 [3] Market Trends - Fashion gifting underperformed as consumers gravitated to lower price points even more than anticipated in a continued competitive environment [2][4] - Merchandise margin rose less than expected due to lower fashion mix and a stronger customer response to promotional items [2] Financial Impact - Signet Jewelers reported weak holiday sales and cut its fourth-quarter guidance, sending shares tumbling more than 20% [4]

About this content About Emily Jarvie Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, ...

Signet Jewelers Ltd (NYSE:SIG) slashed its sales and earnings outlook for the fourth quarter, citing a dismal holiday shopping season. Same-store sales saw a 2% year-over year drop for the quarter, as consumers turned to more affordable gifts and opted for lab-grown diamonds. SIG is down 18.6% to trade at $60.34 at last glance, trading at their lowest level since June and on track for its biggest single-day percentage drop since March 2020. The shares already carry a 36.8% year-over-year deficit, and are no ...

Signet Jewelers (SIG -1.19%) stock wasn't exactly a jewel of an investment as 2024 bowed out. The specialty retailer's share price eroded by almost 20% in December, which, as it covers the holiday period, often proves to be a boon for the sector. But investors were discouraged by the company's latest set of quarterly earnings, and a subsequent price target cut from an analyst only highlighted the disappointment.A lack of lusterSignet, a tightly focused conglomerate that owns the Zales, Kay, and Jared brands ...

The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock's price. Do they really matter, though?Before we discuss the reliability of brokerage recommendations and how to use them to your advantage, let's see what these Wall Street heavyweights think about Signet (SIG) .Signet currently has an average brokerage recommend ...

Signet Jewelers Limited (NYSE: SIG ), is still a very cheap stock on many valuation measures . In the last year, we have highlighted this name for a swing trade twice successfully. The first a year ago today, whichMissed those gains? Come get moreWin with our playbook to advance your savings and retirement timeline by embracing a blended trading and investing approach at our one-stop shop.We activated our CYBER WEEK DEAL, so you can lock in our best price in years. Join Seeking Alpha's premier service while ...

Sales Performance - Signet's sales decreased by 3.1% in Q3 Fiscal 2025 compared to Q3 Fiscal 2024[110] - Total sales decreased by 3.1% year over year to $1.35 billion in Q3 Fiscal 2025, with same store sales down 0.7%[116] - North America segment sales decreased by 2.3% to $1.26 billion, with same store sales down 0.8%[119] - International segment sales decreased by 11.4% to $83.3 million, with same store sales up 1.6%[119] - Signet's total sales decreased 6.9% to $4.35 billion compared to $4.67 billion in the prior year, with same store sales down 4.6%[121] - North America reportable segment's total sales decreased 6.3% to $4.08 billion, with same store sales down 4.9%[124] - International reportable segment's total sales decreased 14.5% to $247.0 million, with same store sales down 16.9% at constant exchange rates[125] eCommerce Performance - eCommerce sales declined by 3.9% to $289.2 million, accounting for 21.4% of total sales[116] - eCommerce sales decreased 8.4% to $959.4 million, accounting for 22.0% of total sales, down from 22.4% in the prior year[121] Gross Margin and Operating Income - Gross margin remained stable at 36.0% for Q3 Fiscal 2025[115] - Operating income decreased to $9.2 million, down from $13.3 million in the prior year quarter[115] - Gross margin remained flat at 36.0% for the third quarter and 37.3% for the 39 weeks ended November 2, 2024[126] - Operating income for the third quarter was $9.2 million or 0.7% of sales, down from $13.3 million or 1.0% in the prior year quarter[131] - Operating loss for the 39 weeks ended November 2, 2024 was $41.9 million or (1.0)% of sales, compared to $205.2 million or 4.4% in the prior year period[131] - North America reportable segment's operating income for the year to date period was $30.1 million or 0.7% of segment sales, down from $281.0 million or 6.5% in the prior year[132] - International reportable segment's operating loss for the year to date period was $(20.9) million or (8.5)% of segment sales, compared to $(22.9) million or (7.9)% in the prior year[132] Net Income and Cash Flow - Net income attributable to common shareholders was $5.4 million, compared to $3.0 million in the prior year quarter[115] - Net income for the 13 weeks ended November 2, 2024 was $7.0 million, compared to $11.7 million in the prior year period[142] - Net loss was $39.4 million, a decrease of $223.6 million compared to net income of $184.2 million in the prior year period, primarily due to non-cash asset impairment charges of $169.3 million[154] - Cash and cash equivalents as of November 2, 2024 were $157.7 million, down from $1,378.7 million as of February 3, 2024 and $643.8 million as of October 28, 2023[138] - Net cash used in operating activities for the 13 weeks ended November 2, 2024 was $75.4 million, compared to $48.0 million provided by operating activities in the prior year period[140] - Free cash flow for the 13 weeks ended November 2, 2024 was $(138.5) million, compared to $14.0 million in the prior year period[140] - Net cash used in operating activities for the 39 weeks ended November 2, 2024 was $189.8 million, compared to $205.3 million for the same period in 2023[153] - Cash and cash equivalents decreased by $1,219.3 million to $157.7 million as of November 2, 2024, compared to a decrease of $518.9 million to $643.8 million for the same period in 2023[153] - Net cash used in investing activities was $121.0 million, primarily related to capital expenditures of $114.4 million for new stores, remodels, and digital/IT investments[156] - Net cash used in financing activities was $908.5 million, primarily due to the repurchase of Preferred Shares ($812.9 million) and repayment of Senior Notes ($147.8 million)[158] Merchandise Transactions and ATV - North America segment's average merchandise transaction values (ATV) were flat, while International segment's ATV decreased by 13.4% in Q3 Fiscal 2025[112] - Merchandise transactions in North America decreased by 2.1% year over year[120] - Average Transaction Value (ATV) in the International segment decreased by 13.4% year over year[120] Strategic Investments and Divestitures - Company completed divestiture of UK prestige watch business in Q4 Fiscal 2024 and closed 21 stores in Fiscal 2025, primarily at Ernest Jones banner[113] - Company plans strategic investments in banner value propositions, product newness, and personalized marketing while driving cost savings[113] - The company invested nearly $900 million in acquisitions over the past three years, including Diamonds Direct, Blue Nile, and Services Jewelry Repair[148] - The company divested its UK prestige watch business for approximately $54 million in fiscal 2024[148] - The company reduced its adjusted leverage ratio target to 2.5x and maintained a 2.3x ratio through fiscal 2024[149] - The company repurchased $113.8 million of common shares during the 39 weeks ended November 2, 2024, with $747.3 million remaining authorized for repurchase[151] Store Operations and Count - Company operates 2,655 retail locations as of November 2, 2024, with 2,298 in the US and 91 in Canada[108] - Store count decreased by 51 stores, with North America segment store count at 2,389 and International segment store count at 266 as of November 2, 2024[157] Digital Banners and Operational Challenges - Digital banners James Allen and Blue Nile faced integration and re-platforming challenges, impacting traffic and sales in Q3 Fiscal 2025[110] - The company faced operational challenges and decreased traffic at digital banners, partially offset by growth in fashion and new merchandise[116] - The company recognized pre-tax impairment charges of $7.0 million for Diamonds Direct trade name, $123.0 million for Digital Banners reporting unit, and $36.0 million for Blue Nile trade name[163] Macroeconomic Factors and Seasonality - Company monitors macroeconomic factors including inflation, Russia-Ukraine conflict, and Israel-Hamas conflict, with no material impact on Israel operations to date[113] - The company's business is seasonal, with the fourth quarter historically accounting for 35-40% of annual sales and a substantial portion of annual operating income[160] Financial Metrics and Ratios - Adjusted EBITDA for the 13 weeks ended November 2, 2024 was $53.9 million, down from $77.3 million in the prior year period[142] - Adjusted operating income for the 39 weeks ended November 2, 2024 was $142.6 million, compared to $233.1 million for the same period in 2023[145] - The company had $157.7 million in cash and cash equivalents and $253.0 million in outstanding borrowings on its ABL as of November 2, 2024, with $929 million in available borrowing capacity[147] - Capital expenditures for fiscal 2025 are planned to be up to $170 million, primarily for new stores, renovations, and digital/technology advancements[148] - The company amended its ABL, extending the maturity to August 23, 2029 and reducing the size to $1.2 billion, with an option to increase by up to $600 million[159] Tax and Interest Expenses - Income tax expense for the third quarter of Fiscal 2025 was $1.4 million with an effective tax rate (ETR) of 16.7%, compared to $1.9 million and 14.0% ETR in the prior year period[134] - Year-to-date income tax expense for Fiscal 2025 was $9.5 million with an ETR of (31.8)%, compared to $28.6 million and 13.4% ETR in the prior year period[135] - Net interest expense for the 13 weeks ended November 2, 2024 was $1.0 million, compared to net interest income of $2.6 million in the same period last year[133] - Net interest income for the 39 weeks ended November 2, 2024 remained flat at $10.0 million compared to the prior year period[133] Asset Impairments and Inventory - Asset impairments for the 39 weeks ended November 2, 2024 were $168.5 million, primarily related to goodwill and indefinite-lived intangible assets[142] - Cash used by inventory was $189.5 million, compared to a source of $14.8 million in the prior year period, driven by replenishment of inventories to healthier in-stock levels[154] Revenue Growth Strategy - Company aims to grow revenue to $9 to $10 billion with double-digit adjusted operating margin under its Inspiring Brilliance strategy[109]

Signet (SIG) came out with quarterly earnings of $0.24 per share, missing the Zacks Consensus Estimate of $0.29 per share. This compares to earnings of $0.24 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -17.24%. A quarter ago, it was expected that this jewelry company would post earnings of $1.13 per share when it actually produced earnings of $1.25, delivering a surprise of 10.62%.Over the last four quarters, the company h ...