By Denny Jacob
Signet Jewelers shares tumbled 15% in premarket trading following lower sales in its latest quarter and a revised outlook for the fiscal year.
Shares were trading around $84.44. The stock is down 8% on the year.
The jewelry retailer saw sales decline 3.1% to $1.35 billion from $1.39 billion. Analysts polled by FactSet expected $1.37 billion.
Signet said it now expects sales between $6.74 billion and $6.81 billion as well as adjusted earnings per-share in the range of $9.62 and $10.88 for fiscal 2025. The company previously forecast sales between $6.66 billion and $7.02 billion as well as adjusted earnings per-share in the range of $9.90 and $11.52.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
December 05, 2024 08:48 ET (13:48 GMT)
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