Signet Jewelers (SIG) announced a net loss of $101.5 million for the second quarter, contrasting the net income of $66.5 million from the same period last year. Consequently, the loss per share was $2.28, compared to earnings of $1.38 per share previously. Adjusted earnings per share (EPS) stood at $1.25, down from $1.55. According to a Thomson Reuters survey of six analysts, the anticipated EPS for the quarter was $1.14, with such estimates typically excluding special items.For the second quarter, sales amounted to $1.5 billion, a decline of 7.6%, consistent with the constant currency basis. Comparable store sales fell by 3.4% over the quarter. Analysts had expected the revenue to align with the reported figure of $1.5 billion.Signet’s Board has announced a quarterly cash dividend of $0.29 per common share for the third quarter, payable on November 22, 2024, to shareholders recorded as of October 25, 2024.Looking ahead to fiscal 2025, Signet projects its adjusted EPS to range between $9.90 and $11.52, with total sales anticipated to fall between $6.66 billion and $7.02 billion. For the third quarter, the company forecasts total sales between $1.345 billion and $1.380 billion.In pre-market trading on Thursday, shares of Signet Jewelers have risen by 7%.The material has been provided by InstaForex Company – www.instaforex.com
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