Shares of Signet Jewelers (NYSE: SIG) jumped almost 9% on June 9 after the diamond jewelry retailer posted impressive first-quarter earnings and reiterated its FY2023 guidance. Meanwhile, the company announced that it has expanded its share repurchase authorization by $500 million. Q1 Beat The company reported stellar quarterly earnings of $2.86 per share, significantly higher than analysts’ estimates of $2.38 per share. It had reported earnings of $2.23 per share in the same quarter last year. Meanwhile, revenue climbed 8.9% year-over-year to $1.8 billion but missed the Street’s estimate by 10 million. The revenue growth is attributed to higher same-store sales and a whopping 91.
https://www.tipranks.com/news/why-did-signet-stock-jump-9-on-thursday?utm_source=advfn.com&utm_medium=referral