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Signet's Q2 Sales Fall but Beat Projections, Investors Take Notice

Signet's Q2 Sales Fall but Beat Projections, Investors Take Notice

The Diamond Loupe
English
10:47

Signet's Q2 Sales Fall but Beat Projections, Investors Take Notice

Signet Jewelers' sales for the second quarter of fiscal 2020 (ended Aug. 3) fell but did not decline as much as expected, and investors took notice. The company's stock, declining hard and fast since 2015 - and down over 60% year-to-date in 2019 - jumped by roughly 25% on the news and have held its gains. The world’s largest jewelry retailer announced reported that total sales fell 3.9% to $1.34 billion in Q2 and that comps for same-store-sales fell 1.5%, outpacing the forecasted 2–3% drop.

Jewelry