Signet Jewelers Quarterly Earnings Miss Expectations

By Carla MozeeMarketWatch Pulse

Signet Jewelers Ltd. on Tuesday posted adjusted quarterly earnings that fell short of Wall Street's estimate and sales that skimmed below expectations. Signet, whose retail brands include Zales and Jared, said third-quarter net earnings were $15 million, or 19 cents a share. A year ago, it lost $1.3 million, or 2 cents a share. In the most recent period, adjusted earnings were 33 cents a share, and sales rose to $1.22 billion from $1.18 billion a year ago. Analysts were looking for adjusted earnings of 39 cents a share and sales of $1.23 billion, according to FactSet. Signet shares were off 0.9% in low premarket volume, and have risen 6.9% this year.

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