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Signet Jewelers

All articles tagged with #signet jewelers

business2 years ago

"Market Movers: GameStop, Amazon, Carvana, Rent the Runway, and Uber"

GameStop's stock fell nearly 18% after firing CEO Matthew Furlong and appointing Ryan Cohen as executive chairman; Amazon's stock rose 2.8% after Wells Fargo initiated coverage with an overweight rating; Carvana's stock surged over 45% after issuing an upbeat outlook for Q2; Signet Jewelers' stock dropped 10% after lowering its fiscal full-year outlook; Adobe's stock gained 5.1% after announcing it is offering its artificial intelligence tool, Firefly, to large business customers.

via CNBC|
#adobe#amazon#business
business2 years ago

Signet Jewelers' Struggles Continue with Store Closures and Stock Drop.

Signet Jewelers, the parent company of Zales, Jared, and Kay Jewelers, reported a 14% decline in same-store sales for Q1 and plans to close 150 stores over the next year. The company cited economic concerns, lower tax refunds, and inflation as reasons for the decline. Bridal sales struggled due to fewer engagements, but the company is still growing market share in the category. Fashion jewelry sales remain weak at lower price points, but sales of jewelry priced at $5,000 and above remain strong. Signet is increasing its cost savings target to $225 million to $250 million and leveraging artificial intelligence to adjust its flexible employee hours.

via National Jeweler|
#bridal-sales#business#fashion-jewelry
business2 years ago

GameStop's Future Uncertain as Shares Plummet and CEO Exits

GameStop's shares fell by nearly 21% after the company announced the ousting of its CEO. Wynn Resorts and Las Vegas Sands both shed about 2% following a downgrade by Jeffries to hold from buy. Signet Jewelers' shares tumbled nearly 11% after the jeweler provided second-quarter revenue and operating-income guidance that fell short of expectations. Lucid's shares advanced about 2% after the company's head of China operations said the electric vehicle maker is preparing to enter the Chinese market. T-Mobile's shares added about 1% in premarket trading after Wolfe Research upgraded T-Mobile to outperform from peer perform.

via CNBC|
#business#gamestop#lucid