By Nicholas G. Miller
Shares of Signet Jewelers fell after the company provided a soft fourth-quarter outlook, citing weak consumer confidence heading into the holiday season.
The stock fell 3.7% to $92.15. It is up 14% so far this year.
The company guided for fourth-quarter sales of $2.24 billion to $2.37 billion and same-store sales to be down 5% to up 0.5%. Analysts see fourth-quarter sales of $2.38 billion and same-store sales growth of 0.9%, according to FactSet.
Signet said the relatively weak outlook is due to external disruptions since late October and weakness in consumer spending. "We believe it prudent to have a cautious approach to guidance, given we've seen softer traffic in the past five weeks, particularly among brands with more exposure to lower to middle income households," said Chief Operating and Financial Officer Joan Hilson in the company's earnings call.
The company said it would offer products for better value during the holiday season in order to allay consumers hesitancy and would be offering more lab-grown diamond fashion jewelry at price points below $1,000 compared with last season. "Our consumers are dealing with a lot," said Chief Executive J.K. Symancyk. "And I do think we've got a customer that is going to be more intently focused on value as they come through the holiday."
For the third quarter, the company reported same-store sales growth of 3% and adjusted earnings of 63 cents a share. Analysts expected 29 cents a share.
Write to Nicholas G. Miller at nicholas.miller@wsj.com.
(END) Dow Jones Newswires
December 02, 2025 11:39 ET (16:39 GMT)
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