Signet Jewelers Reports Soft Holiday Sales, Lowers Guidance

Signet Jewelers shares were lower 4.5% in recent pre-market trade after the company Wednesday reported same-store sales fell 4.65% year-over-year in the nine week holiday period ended Dec. 31, and lowered its guidance for fiscal Q4 and fiscal 2017. Total sales fell 5.1% YOY in the holiday period.

The retailer reported problems in its e-commerce platform as well.

For fiscal Q4 adjusted EPS the company’s updated guidance is $4.00 to $4.05, from previously $4.00 to $4.20. Analysts polled by Capital IQ have been expecting Q4 EPS of $4.05.

For fiscal 2017, the new guidance for adjusted EPS is $7.38 to $7.43, from previously $7.38 to $7.58. Analysts have been expecting EPS of $7.51. Signet is projecting same-store sales will fall 2.0% to 2.5% in fiscal 2017, down from previously expected down 1% to 2.5%.

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