Bishop Research and Analytics
Research analyst, long/short equity, deep value, long-term horizon

Signet Jewelers: Outlet Malls, Ultra Acquisition, And Macro Tailwinds Fuel Extraordinary Growth

Investment Summary

Signet Jewelers Ltd. (NYSE:SIG) is the largest specialty jewelry chain in both the United States and United Kingdom. The company is growing earnings per share at a 33.46 percent CAGR since its FY 2010 - calendar year 2009 - and is currently in the process of aggressively expanding its retail footprint into the burgeoning shopping format of outlet malls. In addition to its own organic growth, Signet Jewelers used its strong net cash position to acquire Ultra Stores in October 2012 in an all-cash deal worth $57 million. This strategic acquisition gave Signet Jewelers 140 new stores, with 102 of those located in outlet mall centers, which it began integrating into its own Kay Jewelers nameplate...

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