Why Signet Jewelers Plunged This Week
Shares of jewelry retailer Signet Jewelers (NYSE: SIG) plunged 26.2% this week through Friday at 3 p.m. ET, according to data from S&P Global Market Intelligence.
Signet preannounced holiday sales on Tuesday, which turned out to be rather disappointing. Thus, it's no surprise to see the stock falling on the news, even though it looks quite cheap -- at least on the surface.
On Tuesday, Signet announced a 2% decline in holiday same-store sales, which includes the days leading up to Christmas. That was below the company's prior forecast, which means Signet will likely disappoint when it reports full fourth-quarter numbers.
Source Fool.com
