SIG - Why Diamond Jewelry Retailer Signet's Shares Are Gaining Today | Benzinga
Signet Jewelers Ltd (NYSE: SIG) shares are trading higher by around 4% after it reported Q3 FY24 results. Sales declined 12.1% YY to $1.392 billion, marginally beating the analyst consensus of $1.390 billion. Same-store sales were down 11.8% versus last year.
North America segment sales amounted to $1.3 billion, an 11.9% decrease Y/Y. Same-store sales for the segment decreased 12.3% versus last year. International segment same-store sales decreased 4.6%, and sales fell 1.4% Y/Y to $94.0 million.
Gross margin of 36.0%, up 110 basis points Y/Y. The operating income for the quarter was $13.3 million versus $48.4 million last year, with an operating margin of 1.0%.
Adjusted EPS of $0.24 beat the analyst consensus estimate of $1.18.
"Trends through Black Friday weekend, including sequential improvement ...