Why Signet Jewelers Stock Is Shining Today
Shares of Signet Jewelers (NYSE: SIG) were surging 10.2% in morning trading Thursday after the jewelry store chain offered up a sterling earnings report that beat analyst expectations on the top and bottom lines.
First-quarter sales rose 9% to $1.8 billion as comparable-store sales (comps) climbed 2.5% from the year-ago period, though that was less than the 5.1% forecast.
It's a pretty remarkable performance because last year, sales at the jewelry retailer had nearly doubled following the pandemic-disrupted prior year and comps had also surged 106%, so being able to add to those gains showed some business strength.
Source Fool.com
