Why Shares of Signet Jewelers Are Down Today
Shares of Signet Jewelers (NYSE: SIG) were down sharply on Monday amid a broad-based market sell-off sparked by a sharp drop in oil prices and fears of a global virus pandemic.
As of 1:30 p.m. EDT, Signet's shares were down about 12.3% from Friday's closing price.
Signet is the world's largest diamond retailer, with a focus on the so-called mid-market, a level below luxury brands. The company owns several chains of jewelry stores, including Zales, Kay Jewelers, and Jared. Many of its stores are located in shopping malls.
Source Fool.com
