Signet's Third-Quarter Results in Line With Our Expectations; Moat Rating and Fair Value Unchanged
We don’t plan any changes to our $100 fair value estimate and no-moat rating for Signet Jewelers after the company reported third-quarter earnings in line with our expectations. The third-quarter performance keeps Signet on track to meet our recently revised forecasts of 1.5% sales growth and 12.2% EBIT margin for the full year.In the third quarter, sales fell by 2.5% on a 2.0% decrease in comparable-store sales, reaching $1.2 billion. Kay, Jared, and Zale Jewelry, Signet's main brands represen...
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