Latest news with #SignetJewelers
Yahoo
3 days ago
- Business
- Yahoo
Up 60% in Three Months, Can This Bargain Stock Keep Gaining?
Signet Jewelers soared after returning to positive comparable sales growth in the first quarter. Its Grow Brand Love strategy is paying off as sales of lab-grown diamonds in fashion jumped 60%. The company repurchased 5% of its shares outstanding in the quarter. 10 stocks we like better than Signet Jewelers › Signet Jewelers (NYSE: SIG) is the world's largest retailer of diamond jewelry, but as a leader in a mature market, the stock has been overlooked by investors hungry for growth in the artificial intelligence (AI) era. That's led Signet, which owns banners like Kay, Jared, and Zales, to trade at a bargain valuation, and the stock looks more attractive after surging on its first-quarter earnings report. The company returned to same-store sales growth for the first time in several quarters and beat estimates on the top and bottom lines. Signet posted a same-store sales increase of 2.5%, thanks in part to 8% growth in average unit retail (AUR), or average prices. This was driven by a surge in lab-grown diamonds in its fashion segment, meaning non-bridal jewelry. Overall revenue in the quarter rose 2% to $1.54 billion, which topped the consensus at $1.52 billion. It showed off growth throughout the income statement, a credit to the improved assortment that led to comparable-sales growth. Gross margin rose 100 basis points to 38.8%, driven by improving merchandise margin and as it gained leverage on fixed costs. Adjusted operating income jumped from $57.8 million to $70.3 million. Adjusted earnings per share rose from $1.11 to $1.18, which beat the consensus at $1.04. Signet stock jumped as much as 16.8% on Tuesday on the news. In an interview with The Motley Fool, CFO/COO Joan Hilson credited the company's Grow Brand Love strategy for the improvement in Signet's business. New CEO J.K. Symancyk introduced the strategy in its fourth-quarter earnings report, saying the company would focus on more style and design-led product in its assortment. This includes a reorganization of the business. Hilson said part of that strategy means a sharper focus on Signet's top three banners, Kay, Zales, and Jared, saying that one point of growth at those banners was equal to six points of growth at its other brands. "This is the most immediate way for us to drive short-term growth," she said. Those efforts seem to have paid off as an improved assortment helped drive sales growth, with Signet particularly strong in fashion items at a price point of $250 to $500. Additionally, the company said that sales of lab-grown diamonds in the fashion segment jumped 60%. This shows that it's finding a new way to meet customer demand, as lab-grown diamonds offer the ability to get more karats for a lower price point than natural diamonds. Looking ahead, management said the company got off to a strong start in the second quarter. Quarter-to-date revenue was near or above the high end of its guidance for the quarter, calling for same-store sales of -1.5% to +1%. The company did not adjust its second-half expectations for the year, except to account for $117.5 million in share repurchases in Q1, or 5% of shares outstanding, showing another way Signet is delivering value for investors. For the full year, the company raised its revenue guidance from $6.53 billion to $6.80 billion to $6.57 billion to $6.8 billion, and now expects adjusted earnings per share of $7.70 to $9.38, up from a previous range of $7.31 to $9.10. That guidance factors in current tariffs, which the company expects to manage through vendor negotiations and other tactics, and management said the consumer remained resilient. At the midpoint of that guidance, the stock trades at a forward price-to-earnings ratio of just 8.5. This makes the stock attractively priced, especially after returning to growth and opportunistically buying back stock. Signet is now up 60% since its low point in March after the company reported disappointing Q4 results, which shows that the Grow Brand Love strategy has already had a significant effect. Looking ahead, the stock looks positioned for further gains due to its low valuation, improved assortment, growth in lab-grown diamonds, and ability to repurchase stock. Signet stock could easily move higher from here. Before you buy stock in Signet Jewelers, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Signet Jewelers wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $656,825!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $865,550!* Now, it's worth noting Stock Advisor's total average return is 994% — a market-crushing outperformance compared to 172% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 2, 2025 Jeremy Bowman has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Up 60% in Three Months, Can This Bargain Stock Keep Gaining? was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
6 days ago
- Business
- Yahoo
Credo Q4 results, CoreWeave gains, Signet Jewelers outlook
Yahoo Finance host Josh Lipton tracks today's top moving stocks and biggest market stories in this Market Minute, including Credo Technology Group (CRDO) shares surging after topping fiscal fourth quarter earnings estimates, CoreWeave (CRWV) extending gains after announcing its AI data center deal with Applied Digital (APLD), and Signet Jewelers (SIG) releasing an upbeat full-year profit outlook. Stay up to date on the latest market action, minute-by-minute, with Yahoo Finance's Market Minute. It's time for Yahoo Finance's market minute. US stocks rise as positive economic data offsets the OECD's tariff warning. Shares of Credo Technology are surging after providing fourth quarter results, company pulling earnings and revenue that did top Wall Street's expectations. Several firms lifting their price target on that stock including TD Cowen noting Credo as a top pick among small and mid-cap stocks. Coreweave shares reaching a record intraday high. Applied Digital and Coreweave extending gains following that new data center deal. Companies entering two approximately 15 year AI data center lease agreements. And Signet Jewelers seeing a jump after lifting its price profit outlook for the full year, company noting its outlook reflects the current macro environment, current tariffs, as well as cost savings initiatives. Signet Jewelers also topping earnings and revenue expectations for the first quarter. And that's your Yahoo Finance market minute for more of what's trending, scan the QR code below. Sign in to access your portfolio
Bloomberg
7 days ago
- Business
- Bloomberg
Stock Movers: Signet, Constellation, Dollar General
On this episode of Stock Movers: - Signet Jewelers (SIG) shares climb 14% in premarket trading after the owner of Kay Jewelers boosted its adjusted earnings per share forecast for the full year, following first-quarter results that was ahead of expectations. - Nuclear stocks gain in US premarket trading after Constellation Energy (CEG) agreed to sell power from an operating nuclear plant in Illinois to Meta Platforms, an agreement that could lead to the construction of a new reactor at the site. - Dollar General (DG) slightly increased its annual guidance after the first quarter topped projections. The discount chain also said it expects to mitigate a significant amount of the tariffs currently in place. The company sees same-store sales gaining as much as 2.5% this fiscal year, up from guidance in March calling for an increase as high as 2.2%. The retailer also nudged up expectations for earnings per share.
USA Today
7 days ago
- Business
- USA Today
US stock futures slip amid US-China trade tensions
US stock futures slip amid US-China trade tensions Show Caption Hide Caption What is the S&P 500? A complete guide to this key stock market index Understanding the S&P 500: What it is and why it matters U.S. stock futures are lower after major stock indexes eked out a gain on the first trading day of the month despite rising trade tensions between the U.S. and China. "It appears the market took solace in the White House signaling that President (Donald) Trump and Xi Jinping would talk this week," said Mike O'Rourke, chief market strategist at JonesTrading. At 6:20 A.M. ET, futures linked to the blue-chip Dow fell -0.40%, while broad S&P 500 index futures dropped -0.45% and tech-heavy Nasdaq futures slipped -0.44%. Corporate news Before the bell Dollar General, Signet Jewelers and Nio are set to report earnings. Stocks to watch include: EchoStar said it won't make about $183 million in cash interest payments on a series of Dish's notes. The non-payment was made in light of recent uncertainty raised by the Federal Communications Commission, it said. Pegasystem raised its full-year outlook above analysts' forecasts. Credo Technology's results in the last three months of its fiscal year beat analysts' forecasts. Medora Lee is a money, markets, and personal finance reporter at USA TODAY. You can reach her at mjlee@ and subscribe to our free Daily Money newsletter for personal finance tips and business news every Monday through Friday.
Yahoo
30-04-2025
- Business
- Yahoo
California Law Enforcement and DAs Take On Retail, Cargo Thieves
California is stepping up its game to head off perpetrators of organized retail theft and cargo theft, whose schemes are becoming increasingly sophisticated and brazen. Attorney General Rob Bonta announced last week that his office had filed felony charges against three individuals involved in a suspected 'identity theft mill,' wherein stolen identities were used to perpetrate retail crimes. According to Bonta's office, the suspects applied for store credit cards using stolen information from victims and then used the credit cards to purchase mass amounts of merchandise. More from Sourcing Journal Nearly $4 Million in Stolen Cargo Recovered in LAPD Theft Bust JFK Airport's New $270M Cargo Hub Opens Amid Customs Clampdown Will Trump Tariffs Help or Hurt U.S. Garment Workers? The scheme, which spanned seven counties including Los Angeles, Orange, San Bernardino, Riverside, Alameda, San Mateo, and Santa Clara Counties from March through July of 2023, saw the defendants fraudulently purchase over $100,000-worth of products from both high-end retailers and Harbor Freight, a tool and equipment store that serves the California market. Law enforcement agencies were tipped off by a corporate fraud investor from Signet Jewelers, which led the California Department of Justice (DOJ), along with Homeland Security Investigations, Santa Maria Police Department, Los Angeles County Sheriff's Department, California Highway Patrol and Westminster Police department, to take action. The investigation concluded in a 34-felony complaint filed against the three individuals by DOJ, with charges including organized retail theft, grand theft, and identity theft (with 13 people victimized by the credit card scheme). 'This was not a one-off shoplifting offense, it was a malicious, coordinated scheme,' Bonta said, thanking Signet Jewelers for collaborating with local and state law enforcement to root out the perpetrators. 'We will not give up until we put a stop to this criminal activity all together,' he added. 'The Los Angeles County Sheriff's Department is deeply committed to tackling organized retail crime through strategic multiagency collaboration, intelligence sharing, and targeted enforcement,' said Los Angeles County Sheriff's Department Detective Division Chief Joe Mendoza. 'By working closely with our local, state, and federal partners, we continue to strengthen our efforts, disrupt criminal networks, protect both businesses and our communities, while holding individuals accountable.' Thieves of all kinds are growing more emboldened, according to GearTrack's April Cargo Security Index, which showed that 54 percent of cargo theft in the U.S. took place in California, Florida and Texas during the month of March. The Golden State saw a whopping 34-percent increase in cargo theft incidents month over month, while Texas and Florida saw increased rates of 17 percent compared to February. GearTrack works with Verisk's CargoNet, a cargo theft recovery network, to track these trends each month. Notably, the top targeted goods included food and beverages, along with household goods, indicating that people across the country are becoming increasingly anxious about being able to afford necessities. In fact, a standout case from the group's research involved the attempted theft of $55,000-worth of beef cargo in Philadelphia, Pa. 'The surge in theft is attributed to rising economic pressures, tariff uncertainty, increased shipment volumes, and the growing sophistication of criminal networks,' Ilan Gluck, general manager of GearTrack, explained. 'Organized theft groups are developing new, innovative schemes—from non-delivery of loads to following freight trains along delivery routes—and even forging documents for fraudulent pick-ups,' he added. 'Shippers needing to transport food and beverage, apparel and accessories, household goods, metals, and vehicles or auto parts should increase focus on route planning to ensure the safe, timely delivery of valuable goods.' California Governor Gavin Newsom said that combatting organized retail theft and cargo theft are both major priorities for his office—as is prosecuting these crimes to the fullest extent of the law. Last week, the governor's office announced that California has generated 14,133 referrals for prosecution during the first year of the state's organized retail theft and vertical prosecution grants, which were a part of the $267-million retail theft law enforcement grant program announced in 2023. Of the cases referred for prosecution, 10,932 were for organized retail theft, while 40 were for cargo theft. The issue is becoming more serious as economic pressures ratchet up; last week, the Los Angeles Police Department's Cargo Theft Unit (CTU) recovered nearly $4 million in stolen cargo. Of the 1,150 individuals that were ultimately convicted of theft-related property crimes since the start of the grant program, 373 were related to organized retail theft, and 88 percent of those convictions were felonies. 'As we continue investing in public safety, we keep seeing strong, positive results—more officers, more crime deterrents and more case prosecutions,' Newsom said last week. 'Our commitment to our neighborhoods is paying off.' California's organized retail theft grant program encompasses both crime prevention and vertical prosecution; 38 law enforcement agencies were provided with $242 million of the funding to invest into new equipment, hiring more officers, technology and enhancing enforcement operations including partnerships with local retail. Meanwhile, the $24 million vertical prosecution grants were disseminated to 13 district attorneys' offices, allowing them to dedicate attorneys to focus on specific cases from beginning to end, giving law enforcement—and victims—a single point of contact and generally streamlining the prosecution process. 'The ORT Grant has led to phenomenal results in Fresno. We have been able to build relationships and trust with our retailers, and work closely with our partner law enforcement agencies—we are now sharing intelligence across the entire Central Valley,' said Fresno Police Department Deputy Chief Michael Landon. Fresno police have recovered $1.2 million in stolen property, $400,000 of which was seized, since the grant was enacted. The funding has helped the department put in place new processes and tools to drive down auto theft by 38 percent, like license plate reader equipment. There have also been many notable retail theft cases that have been solved during the grant's first year; in nearby San Francisco, the SFPD arrested eight people suspected of participating in 23 organized retail theft incidents at local Walgreens stores, leading to the pilfering of $84,000-worth of merchandise, the governor's office said. SoCal law enforcement agencies announced one of the biggest organized retail theft busts on record in March—a sting operation that recovered $4 million in goods from stores like Target, Nordstrom, Macy's and TJ Maxx. Those goods were stolen as part of a sophisticated fencing operation, and they were ultimately returned to the retailers. Throughout these investigations, it's critical that local prosecutors are involved, according to Sonoma County Chief Deputy District Attorney Scott Jamar. 'The Vertical Prosecution Grant has been a catalyst for enhancing communication and empowering our community, from retailers to law enforcement,' he said. 'It has allowed us to concentrate our efforts using technologically assisted analytics to identify suspects, often in real-time, and build prosecutable cases.' Jamar's office gave the example of working with multiple retailers in collaboration with the Santa Rosa Police Department to build a case against multiple retail theft suspects who allegedly stole $16,000 worth of jewelry over the course of about a week. Now, the county does monthly 'blitz' operations of a similar nature. Multiple California counties have used the funding in creative ways to strengthen prosecutions and collaboration with local communities. The Yolo County District Attorney's Office launched a retailer reporting program that it said dramatically expedites investigations and prosecutions by sending the information directly to district attorneys. Dubbed 'FastPass to Prosecution,' the program debuted in fall 2023 and has upped the rate of successful prosecution of organized retail theft crimes. In Stanislaus County, the district attorney's office created a public education strategy surrounding organized retail crime and established a single point of contact for retailers and law enforcement agencies. Bi-weekly meetings are also held between the stakeholders. The strategy has led to increased arrests for theft, with certain retailers in the Northern California county reporting 90 percent reductions in losses. In addition bolstering prosecution and prevention, the Board of State and Community Corrections (BSCC), which was tasked with carrying out the grants, established an online dashboard that tracks data for both programs. Insights show that violent crimes and property crimes decreased last year, by 4.6 percent and 8.5 percent respectively, according to analysis of the Real Time Crime Index data by the Public Policy Institute of California. Burglary also fell 13.6 percent, while larceny decreased by 18.6 percent, from a pre-pandemic baseline.
