Why Signet Jewelers Was Climbing Today
Shares of Signet Jewelers (NYSE: SIG) were sparkling today after the world's largest diamond jewelry retailer reported solid fourth-quarter earnings and offered better-than-expected guidance for the current year. The stock closed up 7%.
Signet's shares have soared since the early days of the pandemic. Sales were up 28.6% year over year to $2.81 billion and up by 30.6% from Q4 2020. That edged out estimates of $2.77 billion.
Brick-and-mortar sales rebounded strongly from a lull during the start of the pandemic, up 34.6% from last year and 21.7% from two years ago. Meanwhile, e-commerce sales have nearly doubled over the last two years, up 85.4%.
Source Fool.com
