Signet Jewelers Stock Tumbles After Company Cuts Outlook on Soft Holiday Sales

Key TakeawaysSignet Jewelers reported weak holiday sales and cut its fourth-quarter guidance on Tuesday, sending shares tumbling more than 20%.The parent of Jared, Zales, and Kay Jewelers stores said same-store sales in the 10 weeks ending Jan. 11 fell about 2%.Signet Chief Financial and Operating Officer Joan Hilson noted that "fashion gifting underperformed as consumers gravitated to lower price points even more than anticipated in a continued competitive environment." Shares of Jared, Zales, and Kay Jewe ...