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Signet Jewelers Shares Plunge 10% on Lowered Outlook
Jun 8, 2023 3:56 PM - Davit Kirakosyan
Image credit: FMP
Signet Jewelers (NYSE:SIG) shares dropped more than 10% intra-day today after the company cut its guidance for the full-year profit and revenues.
The company reported Q1 adjusted EPS of $1.78 and revenue of $1.67 billion, compared to the Street estimates of $1.44 and $1.71 billion, respectively. Same-store sales fell 13.9% year-over-year.
For Q2, management expects revenue in the range of $1.53-1.58 billion, below the Street's estimate the $1.75 billion, For the full year, the company sees EPS at $9.79 and revenue at $7.2 billion from the prior estimates of $11.33 and $7.755 billion, respectively. Street estimates stand at $11.11 for EPS and $7.73 billion for revenues.
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