Signet Jewelers Limited Q2 Loss Decreases

(RTTNews) - Signet Jewelers Limited (SIGY) released Loss for second quarter of -$9.1 million

The company's bottom line totaled -$9.1 million, or -$0.22 per share. This compares with -$101.5 million, or -$2.28 per share, last year.

The company's revenue for the period rose 3.0% to $1.535 billion from $1.491 billion last year.

Signet Jewelers Limited earnings at a glance (GAAP) :

-Earnings: -$9.1 Mln. vs. -$101.5 Mln. last year. -EPS: -$0.22 vs. -$2.28 last year. -Revenue: $1.535 Bln vs. $1.491 Bln last year.

Excluding items, Signet Jewelers’ second-quarter earnings beat Street view.

For the second quarter, the company posted adjusted income of $1.61 per share, higher than $1.25 per share in the same period last year. On average, the 7-analysts polled were expecting the firm to earn $1.24 per share for the second quarter. Analysts’ estimates typically exclude special items.

J.K. Symancyk, CEO of Signet Jewelers, said: “Our second quarter results were driven by the expansion of on-trend fashion assortment and effective promotion and pricing strategies. Our heightened focus on Kay, Zales, and Jared fueled a combined same store sales increase of 5% at these brands. We have a sharp focus on delivering holiday with the right inventory levels at key price points and the launch of new collections in our largest brands, supported by fresh marketing campaigns.”