Signet Jewelers Ests Reduced
Signet Jewelers Limited (SIG - Analyst Report) is the world's largest specialty retail jeweler and operates leading operations in both the US and UK. The US market accounts for approximately 50% of worldwide jewelry sales and the UK for around 7%. Signet Group's 4th quarter EPS, excluding goodwill impairment charges, matched our estimate of $1.09.
While SIG shares jumped higher on the report, we would caution investors to not get too excited. Challenging economic conditions in both the US and the UK will continue to pressure the company's sales and profit margins in the near term. For fiscal year 2010, the company will cut operating costs by $100 million and limit its capital expenditures to $55 million.
Even so, we are again reducing our estimates for fiscal year 2010, due to the difficult economic environment. We maintain our Hold rating.
|
|
|
Share |
RSS |
Rate Pos |
Rate Neg |
Comment |
|
|
||||||
Loading Stories...Most Popular on Zacks.com
More Zacks Resources
Zacks Rank Home - Evaluate your stocks and use the Zacks Rank to eliminate the losers and keep the winners.
Mutual Fund Rank Home - Evaluate your funds with the Mutual Fund Rank for both your personal and retirement funds.
Stock/Mutual Fund Screening - Find better stocks and mutual funds. The ones most likely to beat the market and provide a positive return.
My Portfolio - Track your Portfolio and find out where your stocks/mutual funds stack up with the Zacks Rank.
More Zacks Links
| Market Summary | Nov 07, 2009 21:19 pm ET |
Sponsored Links


Sponsored Links 
-0.04 %

17.46
[CLICK TO CLOSE X]