This Dirt Cheap Value Stock Just Ripped Higher. Here's Why It Could Keep Rallying
Signet Jewelers (NYSE: SIG) doesn't get a lot of attention on Wall Street, but the latest earnings report from the world's largest diamond jewelry retailer should turn a few heads.
The retail stock jumped 20% Tuesday and tacked on another 6% Wednesday after the company easily beat estimates in its third-quarter earnings report and raised its guidance, even as it faced difficult comparisons with the quarter a year ago and a volatile macroeconomic environment.
Revenue in the quarter rose 2.9%, or 4.2% in constant currency, to $1.58 billion, ahead of estimates at $1.5 billion. Same-store sales were down 7.6% as the company lapped a quarter in which consumers were still benefiting from government stimulus and as it experienced some macroeconomic pressure.
Source Fool.com
