Signet Jewelers Ltd. (SIG) is the world's largest retailer of diamond jewelry. The Hamilton, Bermuda-domiciled, Akron, OH-headquartered company is listed on both the New York Stock Exchange and the London Stock Exchange. The group operates in the middle market jewelry segment and has number one positions in the U.S., Canada and UK specialty jewelry markets. Certain brands (Jared in the U.S. and Ernest Jones/Leslie Davis in the UK) operate in the upper middle market.
Reported before open today (5/26/16) Earnings: EPS $1.95 Revenue $1.58B Estimates: EPS $1.94 Revenue $1.61B Down 11.10% today so far
Upcoming dividend information: Ex-Div-Date: 10/26/16 Payment Date: 11/28/16 Dividend: $0.26 Current Price: $81.05 Annual Yield: 1.28%
Reported before open today (11/22/16) Earnings: EPS $0.30 Revenue $1.19B Estimates: EPS $0.20 Revenue $1.18B Up 2.15% today
News: Class action lawsuit alleging culture of sexual harassment. 69,000 plaintiffs. This is one of those things where chief executives resign. And if/when that happens this can fall even more. Of course this lawsuit didn't just appear instantaneously. Chart shows this has been falling for 2 months already.
Alright, company is deciding to split hairs: "It's critical to understand that an arbitration claim was brought against Sterling in 2008 that alleged gender discrimination in pay and promotion," the company said in a statement. "None of the 69,000 class members have brought legal claims in this arbitration for sexual harassment or sexual impropriety." So the claim was ultimately about discrimination in pay and promotion. But harassment was also involved. It's just that wasn't the basis for the claim. Okay. And it's funny that this news (of a claim evidently from 2008) comes out just today. Right when price was approaching the 20 sma with RSI below 40, right when shorts needed a push down. The sharks smell blood. The company is trying to split hairs, but this is going to end with resignation(s). edit: tradingview not letting me post chart right now, problem with Amazon servers.
Was watching this one, and it dropped right past me. Weekly chart, seemed the bounce from $48 in May was technically just the result of a bullish divergence. Before ER, I thought it wasn't right time to short (a lot of retailers were rising 20+%) and was waiting for $85-95 range. But that was not to be, as the ER featured a guide down. This has gone down to $52.xx, and now we see if it sells off past $46 this time.
