Published on 2 Dec 2021 on Zacks via Yahoo Finance
Signet Jewelers Limited SIG reported stellar third-quarter fiscal 2022 results. Both the top and the bottom line beat the Zacks Consensus Estimate and improved year over year.Signet’s e-commerce business performed impressively during the quarter. Consumers are responding positively to SIG’s refreshed merchandise assortment as well as the advanced capabilities to the Connected Commerce and fulfillment capabilities. SIG’s Inspiring Brilliance strategy is also well on track.Over the past three months, shares of this presently Zacks Rank #1 (Strong Buy) player have gained 35.8% in the past six months, outperforming the industry’s rise of 12.4%. You can see the complete list of today’s Zacks #1 Rank stocks here.
Q3 Details
Signet reported adjusted earnings of $1.43 per share that beat the Zacks Consensus Estimate of 67 cents. The bottom-line figure rose significantly from 11 cents earned in the year-ago quarter.This jewelry retailer generated total sales of $1,537.8 million, surpassing the Zacks Consensus Estimate of $1,452 million. The top line also increased 18.3% year over year and 29.5% from the third-quarter fiscal 2020 actuals. Same-store sales rose 18.9% year over year and 37.2% from the third-quarter fiscal 2020 reading.