Signet Jewelers LimitedNYSE
Sat, Oct. 8, 9:09 AM
- Retailers want the U.S. election over and quick. The negative tone has created a degree of uncertainty with consumers that has impacted spending and traffic patterns, according to a host of top execs.
- "There is just great uncertainty as to what is going to happen in the U.S. in particular as a result of the outcome of the election," noted Yum Brands (NYSE:YUM) CEO Greg Creed recently. "People may be hunkering down a little bit," he added.
- Expect the topic to be raised on a large number of Q3 earnings calls over the next month to explain away revenue misses.
- It's not an excuse that everyone is buying into. Retail Metrics president Ken Perkins doubts that daily shopping needs are cut short by election fascination and notes consumer confidence is measuring high. Then there's Amazon (NASDAQ:AMZN) which seems to be rolling right along without any Clinton-Trump fatigue.
- Beyond the election wildcard, two underestimated factors impacting some retailers in a more concrete way are the lower level of SNAP (food stamps) benefits being paid out by the government and the elevated cost of health care. There is also the massive challenge with a millennial generation that shuns chains. Just ask anyone in the restaurant sector (NASDAQ:BITE).
- Add it all up and it makes for a challenging period for a mix of retailers that includes Dollar General (NYSE:DG), Dollar Tree (NASDAQ:DLTR), Fred's (NASDAQ:FRED), Ross Stores (NASDAQ:ROST), Wal-Mart (NYSE:WMT), Target (NYSE:TGT), Staples (NASDAQ:SPLS), McDonald's (NYSE:MCD), Popeyes Louisiana Kitchen (NASDAQ:PLKI), Wendy's (NYSE:WEN), Supervalu (NYSE:SVU), Kroger (NYSE:KR), SIgnet (NYSE:SIG), TJX Companies (NYSE:TJX), and Casey's General Stores (NASDAQ:CASY).
- Retail ETFs: XLY, XRT, VCR, RTH, RETL, IYK, FXD, IYC, FDIS, SCC, RCD, UCC, PMR, UGE, SZK, CNDF, FTXD, JHMC.
Wed, Oct. 5, 11:11 AM
- A number of chain store stocks are tracking higher after a number of positive economic reads came in this week. The rally is somewhat limited to apparel store names and specialty retailers.
- Traders may be looking at data from ISM that indicated a solid jump in services sector activity.
- Also yesterday, Redbook reported the first +1% increase in chain store sales since May and the National Retail Federation forecast a solid 3.6% gain in holiday sales.
- Leading sector gainers include Ascena Retail Group (ASNA +7.1%), Chico's FAS (CHS +3.4%), Gap (GPS +3.4%), Abercrombie & Fitch (ANF +2.2%), Stage Stores (SSI +3.6%), Boot Barn (BOOT +0.8%), Express (EXPR +2.1%), and Francesca's (FRAN +2%), Pier 1 Imports (PIR +6%), The Container Store (TCS +4.9%), Restoration Hardware (RH +2.1%), and Signet Jewelers (SIG +3.6%).
Thu, Sep. 29, 10:17 AM
- CLSA issues new ratings updates up and down the retail sector.
- Coach (COH +2%) earns a Buy rating due to sales momentum.
- Tiffany (TIF +0.8%) looks appealing with expectations set low.
- Ralph Lauren (RL +1.7%) lands at Buy with it seen as being in the early stages of a turnaround.
- Catching Outperform ratings are Signet (SIG +0.1%), Oxford Industries (OXM +0.9%), Kate Spade (KATE +1.2%), and G-III Apparel Group (GIII +1.2%).
- A lack of drivers at Michael Kors (KORS -0.6%) brings a Sell rating down from CLSA.
- The investment firm starts off coverage on Carter's (CRI -1.7%) with an Underperform rating and sets a price target of $95 on the retailer.
Tue, Aug. 30, 8:11 AM
Fri, Aug. 26, 8:34 AM
- Signet Jewelers (NYSE:SIG) plans to test new technology to help it confirm the authenticity of diamonds sold by the company.
- CEO Mark Light says the system will track diamonds by their unique markings and will help create a transparent system for customers.
- Signet Jewelers' Earnings Call Transcript (Aug. 25)
Thu, Aug. 25, 12:45 PM
Thu, Aug. 25, 9:16 AM
Thu, Aug. 25, 9:06 AM
- Signet (NYSE:SIG) announces that affiliates of Leonard Gren & Partners will purchase $625M worth of convertible preferred shares. The transaction is expected to close in Q3.
- The company plans to add the proceeds from the PE firm to its buyback allowance which will take it to $1.1B.
- Previously: Signet misses by $0.31, misses on revenue (Aug. 25)
- Previously: Signet sinks after weak results and guidance cut (Aug. 25)
- Shares of Signet are down 9.95% premarket to $85.95, recovering somewhat from the early post-earnings slide.
Thu, Aug. 25, 7:19 AM
- Signet (NYSE:SIG) reports same-store sales fell 2.3% in Q4.
- Comp growth by brand: Kay -0.5%, Jared -7.6%, Sterling -3.1%, Zales (total) -1.7%, Zales US Jewelry -2.2%, H.Samuel -0.4%, Ernest Jones +1.9%, UK Jewellers division +0.8%.
- Adjusted gross margin rate down 130 bps Y/Y to 34.0%.
- Adjusted SG&A expense rate was up 50 bps to 29.7%.
- Adjusted operating margin rate rose 150 bps to 8.7%.
- Net inventory flat at $2.4B.
- Store count +7 Y/Y to 3,625.
- FY17 Guidance: Same-store sales: -2.5% to -1.0%; EPS: $7.25 to $7.55; Net selling square footage growth +3.0% to +3.5%.
- Previously: Signet misses by $0.31, misses on revenue (Aug. 25)
- SIG -14.14% premarket to $82.00.
Thu, Aug. 25, 7:05 AM
Wed, Aug. 24, 5:30 PM
Mon, Jun. 20, 9:03 AM
- A survey conducted by Cowen indicates that customers of Signet Jewelers (NYSE:SIG) have maintained their positive rating on the retailer, while negative views are in-line with peers.
- Cowen is confident Signet will use its advertising budget to drive traffic across brands.
- Shares of SIG are rated at Outperform by Cowen with a price target of $130.
Wed, Jun. 15, 12:45 PM
- Signet (SIG -0.8%) is adding "incremental promotions" in order to stimulate customers at the Kay, Jared, and Zales chains.
- The company is still in a damage control mode after reports emerged earlier this month alleging diamond-swapping practices at the company.
- "We have to make it right and get on top of social media to make sure that the other side of the story is told," notes Signet CEO Mark Light.
Wed, Jun. 8, 11:44 AM
- Signet Jewelers (NYSE:SIG) CEO Mark Light picked up 2,897 shares at $86.22 yesterday.
- Chairman of the Board Todd Stitzer added 3,480 shares at $86.25.
- Shares of Signet are up 2.91% on the day to $88.54, but are still down about 19% from where they stood before accusations of diamond-swapping first started to circulate.
Fri, Jun. 3, 8:19 AM
- Signet Jewelers (NYSE:SIG) issues a statement in which it strongly objects to published allegations that employees mishandle customer jewelry or engage in "diamond swapping" practices.
- Customer complaints about Signet have seemed to spiral higher recently and the company was the target of a negative article by Grant's Interest Rate Observer. Jim Grant also went on CNBC to explain his concerns on Signet.
- Signet is down 14% over the last week, but SA contributor Quinn Foley sees an opportunity.
Thu, Jun. 2, 11:27 AM
- Signet (SIG -6.8%) is down sharply today as shares stay on a downward track. Shares are off 14% over the last five sessions.
- A contributing factor in the weakness is a report swirling around accusing employees at Kay of swapping out diamonds. A Facebook page that is stockpiling customer complaints is drawing some notice.
- Also in the mix, Grant's took aim at Signet by calling the retailer the next Lumber Liquidators in its latest issue. The publication is pointing at some bankruptcy data on top of the diamond-swapping issue.