Signet Jewelers Sinks 10% In Pre-market After Q1, Annual Outlook Come In Below View

(RTTNews) - Shares of Signet Jewelers Limited (SIG) were down more than 10 percent in pre-market on Wednesday at $92.00, after its first-quarter as well as full-year outlook came in below analysts' view. The company's fourth-quarter sales also declined and fell short of the consensus estimates.

For the first quarter, the diamond jewellery retailer expects sales to be in the range of $1.47 billion to $1.53 billion, below the average estimate of analysts polled by Thomson-Reuters of $1.61 billion. The company also sees same-store sales to decline 11 percent - 7 percent for the quarter.

For fiscal 2025, sales are expected between $6.66 billion and $7.02 billion. This compares with the Street view of $7.17 billion. The company sees EPS in the range of $9.08 to $10.48 for the year, below the consensus estimate of $10.57.

For the fourth quarter, Signet posted net income of $617.6 million or $11.75 per share, significantly higher than $268.7 million or $5.02 per share in the previous-year quarter, primarily due to an income tax benefit of $199.2 million.

Excluding one-time items, earnings were $6.73 per share, that beat the average estimate of analysts of $6.37 per share.

Sales for the fourth quarter, however, declined to $2.498 billion from $2.666 billion last year. The consensus estimate was for $2.55 billion.

Signet shares had closed at $102.46, up 2.20 percent on Tuesday. The stock has been trading in the range of $57.10 - $108.79 in the last 1 year.