SIG Stock Sparkles After Signet Reports Impressive Earnings

SIG stock is up more than 6%

   

SIG Stock Sparkles After Signet Reports Impressive Earnings

Signet Jewelers (SIG) posted impressive second-quarter earnings that sent SIG stock soaring on Thursday.

zlc SIG Stock Sparkles After Signet Reports Impressive Earnings

The company’s second-quarter revenue is up 39% to $1.23 billion thanks in large part to its $1.46 billion acquisition of Zale. Signet posted a profit of $58 million, or 72 cents a share, compared to $67.4 million, or 84 cents a share, for the year-ago period.

Signet expects per-share earnings between $5.38 and $5.54 for the current fiscal year. Analysts estimated per-share earnings of $5.52.

Signet also owns Kay Jewelers and Jared the Galleria of Jewelry. The company now has more than 3,600 locations worldwide with the combination of the four jewelry retailers.

SIG stock is up about 6.1% Thursday afternoon.

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Article printed from InvestorPlace Media, http://investorplace.com/2014/08/sig-stock-signet/.

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