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Sectors

Sector Update: Consumer Stocks Fall Pre-Bell Wednesday

Consumer stocks were falling pre-bell Wednesday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) down 0.4% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) declining 0.9%.Signet Jewelers (SIG) shares were up more than 13% after the company posted higher fiscal Q2 adjusted earnings and raised its fiscal 2027 non-GAAP EPS guidance.Booking (BKNG) lost its legal battle against the European Union's antitrust veto of the company's acquisition of Etraveli Group, with the Luxembourg-based General Court saying the deal is "incompatible with the internal market and the EEA agreement." The company's stock was down more than 2% premarket.Chewy (CHWY) shares were down more than 4% even after the company reported higher fiscal Q2 adjusted earnings and net sales.

$BKNG$CHWY$SIG$XLP$XLY
Signet Jewelers Raises Full-Year Earnings Outlook as Fiscal Second-Quarter Profit Tops Estimates
US Markets

Signet Jewelers Raises Full-Year Earnings Outlook as Fiscal Second-Quarter Profit Tops Estimates

Signet Jewelers (SIG) lifted its full-year earnings outlook on Wednesday as the diamond jewelry retailer's bottom line exceeded market expectations in the fiscal second quarter amid comparable sales strength across all fine jewelry brands.The Kay Jewelers owner now anticipates adjusted earnings to be in a range of $10.45 to $12.15 per share for fiscal 2027, up from the prior guidance of $9.20 to $11. The current consensus on FactSet is for non-GAAP EPS of $10.82.The stock jumped 14% in the most recent premarket activity.The improved earnings outlook reflects the company's operating performance so far this year, additional share buybacks, tariff refunds and a new consumer credit agreement, Chief Financial Officer Joan Hilson said in a statement.Signet agreed to an extended partnership with Bread Financial (BFH) through December 2035 that will allow the retailer's customers to have consistent access to financing options, it said.Same-store sales are now estimated to be flat to up 2.5% for the ongoing fiscal year, reflecting a higher bottom end than the previous forecast for a decline of about 0.8%. Sales are still projected to come in between $6.7 billion and $6.9 billion. The Street is looking for sales of $6.84 billion.For the three months through Aug. 1, the retailer's adjusted EPS surged to $2.19 from $1.61, surpassing the average analyst estimate of $1.74. Sales ticked down to $1.53 billion from $1.54 billion, in line with the Street's view.Same-store sales rose 2.2%. "We delivered another quarter of (comparable) sales growth with a positive comp performance in all fine jewelry brands," Chief Executive J.K. Symancyk said in the earnings release. "This includes high-single-digit unit growth at higher price points."In a client note emailed on Tuesday, UBS Securities said that its industry checks pointed to a "decent quarter" for Signet, with results expected to produce a "modest EPS beat." The company has implemented initiatives over the last 5 years to boost its omnichannel capabilities, improve jewelry assortment, optimize its supply chain and enhance profitability, the brokerage said in the note.North America revenue edged 0.1% higher to $1.43 billion, with comparable sales increasing 1.9%. International revenue gained 5.2% to $96.6 million, with same-store sales climbing 6%.Signet expects sales to be in a range of $1.37 billion to $1.41 billion for the ongoing quarter, compared with the market's current forecast of $1.39 billion. Same-store sales are anticipated to be down 1% to up 2%."We are entering the back half of the year well-positioned to deliver compelling value throughout the holiday season for customers across a broad range of income levels," Symancyk said.

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Sectors

Sector Update: Consumer

Consumer stocks were falling pre-bell Wednesday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) down 0.4% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) declining by 0.9%.Signet Jewelers (SIG) shares were up more than 13% after the company posted higher fiscal Q2 adjusted earnings, and raised its fiscal 2027 adjusted EPS guidance.

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Stocks Fall Pre-Bell, Oil Rises After Fresh US-Iran Strikes
US Markets

Stocks Fall Pre-Bell, Oil Rises After Fresh US-Iran Strikes

US equity futures were tracking in the red on Wednesday while oil prices rose as the US and Iran exchanged a fresh round of strikes.The S&P 500 declined 0.3%, the Dow Jones Industrial Average decreased 0.4%, and the Nasdaq was off 0.5% in premarket activity. The indexes finished Tuesday trading lower for the second consecutive session.The US Central Command said Tuesday its forces destroyed five Iranian crude oil carriers in response to Tehran firing ballistic missiles at a US navy warship. Iran retaliated by launching a barrage of ballistic missiles at a base used by US forces in Jordan, according to several media reports.CENTCOM previously said it struck three Iranian oil tankers over the weekend.West Texas Intermediate crude oil rose 2.3% to $95.13 a barrel, while Brent gained 2.6% to $100.48.President Donald Trump signed five proclamations on Tuesday to ban imports of certain Canadian goods, including some motor vehicles, alcohol and dairy products, effective Sept. 29. In July, the US imposed tariffs of 50% on these products from Canada.Treasury yields were trending upwards, with the two-year rate rising 2.1 basis points to 4.42% and the 10-year rate adding 0.4 basis points to 4.81%.Traders await two key inflation reports later in the week, with data on wholesale prices for August due on Thursday, while the consumer price index for the same month is scheduled to be released on Friday. The reports are expected to serve as crucial data points for the Federal Reserve, which begins its two-day policy meeting next week.Markets are pricing in a 60% probability that the central bank will raise the benchmark lending rate by 25 basis points, with the remaining odds pointing to another Fed pause, according to the CME FedWatch tool.US consumers had mixed views on the inflation trajectory in August, seeing prices hold steady in the short- and long-term but expecting a drop over the next three years, a survey by the Federal Reserve Bank of New York showed Tuesday.Wednesday's thin economic calendar has the weekly mortgage applications bulletin at 7 am ET.SailPoint (SAIL), Chewy (CHWY), Core & Main (CNM), Signet Jewelers (SIG) and Academy Sports and Outdoors (ASO) are set to release their latest financial results before the bell, among others. Cooper Companies (COO), AeroVironment (AVAV) and American Eagle Outfitters (AEO) post their earnings after the markets close.Shares of Casey's General Stores (CASY) dropped 8.9% pre-bell as the convenience store operator's fiscal first-quarter same-store sales growth decelerated year over year.Gold edged down to $4,438 per troy ounce, while bitcoin traded up 0.9% at $79,091.

Dow JonesNasdaq CompositeS&P 500$AEO$ASO$AVAV$CASY$CHWY$CNM$COO$SAIL$SIG
Wire

Signet Jewelers Poised for 'Modest' Fiscal Q2 Beat, Raise, UBS Says

Signet Jewelers (SIG) is positioned for a "modest" fiscal Q2 beat and raise amid improving traffic and strong fine jewelry growth trends, UBS Securities said in a Monday note.The company is set to release its fiscal Q2 results on Sept. 9 and UBS estimated a $0.10 beat in EPS and a potential increase in the lower end of Signet's fiscal 2027 EPS guidance of $9.20 to $11. Signet could also issue a fiscal Q3 comparable sales outlook of a low-single digit growth, UBS added.UBS Evidence Lab and industry data indicated solid trends in the sector during the company's fiscal Q2 period, as fine jewelry continues to be resilient in the higher-income consumer bracket, according to the note.However, risks to H2 comparable sales remain as macro pressures weigh on low to middle income consumers, UBS noted.UBS raised its price target on Signet Jewelers to $122 from $121, with a but rating.Price: $83.57, Change: $+2.20, Percent Change: +2.70%

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Wire

UBS Adjusts Price Target on Signet Jewelers to $122 From $121, Maintains Buy Rating

Signet Jewelers (SIG) has an average rating of overweight and mean price target of $112.89, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)Price: $83.49, Change: $+2.12, Percent Change: +2.61%

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Research

Raymond James Initiates Coverage on Signet Jewelers With Outperform Rating, $105 Price Target

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Sectors

Sector Update: Consumer Stocks Decline Late Afternoon

Consumer stocks were lower late Tuesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) decreasing 0.1% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) shedding 0.6%.Redbook US same-store sales rose by 9% from a year earlier in the week ended May 30, the same pace as in the previous week.In corporate news, Uber (UBER) has placed usage caps on some AI-powered coding tools used by its staff to control costs after the company exceeded its AI budget earlier this year, Bloomberg reported. Uber shares were down 3.2%.Dollar General (DG) raised its full-year earnings outlook on Tuesday, while the discount retailer's fiscal Q1 bottom line topped estimates but revenue missed expectations. Its shares fell 3.5%.Victoria's Secret (VSXY) shares soared 47% after the lingerie retailer raised its full-year sales and earnings guidance.Signet Jewelers (SIG) raised its full-year guidance on Tuesday after posting fiscal Q1 results that topped Wall Street expectations, citing stronger holiday performance and early second-quarter momentum. Its shares rose 4%.

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Sectors

Sector Update: Consumer Stocks Decline Tuesday Afternoon

Consumer stocks were lower Tuesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) decreasing 0.2% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) shedding 0.5%.Redbook US same-store sales rose by 9% from a year earlier in the week ended May 30, the same pace as in the previous week.In corporate news, Dollar General (DG) raised its full-year earnings outlook on Tuesday, while the discount retailer's fiscal Q1 bottom line topped estimates but revenue missed expectations. Its shares were down 1.5%.Victoria's Secret (VSXY) shares soared 46% after the lingerie retailer raised its full-year sales and earnings guidance.Signet Jewelers (SIG) raised its full-year guidance on Tuesday after posting fiscal Q1 results that topped Wall Street expectations, citing stronger holiday performance and early second-quarter momentum. Its shares rose 2.9%.

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Research

Research Alert: CFRA Reiterates Buy Opinion On Shares Of Signet Jewelers Limited

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We keep our 12-month target at $100, applying a forward P/E of 9.3x our FY 27 (Jan) earnings estimate compared to the three-year historical average at 11.6x and five-year average at 10.9x. The industry mean peer average is 11.7x. Following a strong earnings beat of +13% vs. the consensus in Q1 FY 27, we raise our FY 27 EPS estimate to $10.80 (prior $10.51) and increase FY 28's to $12.50 ($11.25). Our revenue projections are $6.84B in FY 27 and $7.0B in FY 28. SIG's physical stores delivered 3.8% same-store sales growth in Q1 FY 27, sharply outperforming the 4.9% decline in e-commerce and demonstrating that well-located, experiential jewelry stores are delivering. The $100M cost saving program provides margin expansion runway with 150 bps of operating margin expansion potential, a buffer to higher input costs and promotional intensity. SG&A expenses declined to 32.8% of total sales in Q1 FY 27 from 34.1% a year ago. We are monitoring digital strategy challenges in e-commerce that need improvement.

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Signet Jewelers Raises Full-Year Outlook After First-Quarter Earnings Beat Expectations
US Markets

Signet Jewelers Raises Full-Year Outlook After First-Quarter Earnings Beat Expectations

Signet Jewelers (SIG) raised its full-year guidance on Tuesday after posting fiscal first-quarter results that topped Wall Street expectations, citing stronger holiday performance and early second-quarter momentum.The owner of Kay Jewelers now expects fiscal 2027 adjusted EPS of $9.20 to $11 on revenue of $6.7 billion to $6.9 billion, up from its prior forecast of $8.80 to $10.74 on revenue of $6.6 billion to $6.9 billion. Analysts polled by FactSet project EPS of $10.45 on revenue of $6.84 billion."We are raising the midpoint for the year to reflect (first-quarter) performance and (second-quarter) momentum," Chief Operating and Financial Officer Joan Hilson said on a conference call, according to a FactSet transcript.Signet shares rose 4.2% in Tuesday trading and are up 32% in the past 12 months.In the quarter ended May 2, adjusted EPS rose to $1.56 from $1.18 a year earlier, beating the $1.38 consensus. Sales edged up to $1.55 billion from $1.54 billion, in line with estimates, while same-store sales increased 1.8%.All categories posted comparable-sales growth, and the company delivered "positive performances" for both Valentine's Day and Mother's Day, CEO J.K. Symancyk said in a statement.North America revenue rose 0.9% to $1.46 billion, with comparable sales up 1.6%. International revenue increased 9.2% to $87.5 million, and same-store sales climbed 5.6%.For the fiscal second quarter, Signet issued a softer-than-expected sales outlook of $1.5 billion to $1.53 billion, compared with analysts' $1.54 billion estimate. Same-store sales are projected to rise 0.5% to 2.5%.Hilson said merchandise margins will be "somewhat lower" due to higher gold costs, though operating-expense and occupancy leverage should offset some of the pressure.The company now expects full-year same-store sales to range from a 0.75% decline to a 2.5% increase, narrowing the downside from its prior forecast of a 1.25% decline to a 2.5% increase.Price: $88.35, Change: $+3.53, Percent Change: +4.16%

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Sectors

Sector Update: Consumer Stocks Decline Pre-Bell Tuesday

Consumer stocks were declining pre-bell Tuesday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) 0.1% lower and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) down 0.5%.Dollar General (DG) stock was up more than 4% after the company reported higher fiscal Q1 earnings and net sales.Signet Jewelers (SIG) shares were up more than 4% after the company posted higher fiscal Q1 adjusted earnings and sales, and raised its fiscal 2027 adjusted EPS outlook.Oddity Tech (ODD) shares were down more than 23% after the company said it swung to a Q1 adjusted loss, as net revenue fell during the period, and projected up to a 30% decline in Q2 net revenue.

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Research

Research Alert: Signet Jewelers Posts Earnings Beat And In-line Revenue

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:Signet Jewelers delivered solid Q1 FY 27 (Jan.) results with sales of $1,553.6M (+0.8% Y/Y) and same-store sales growth of 1.8%, while adjusted operating income grew 11.8% to $78.6M with margin expansion to 5.1% from 4.6%. SIG maintained strong pricing power with average unit retail increasing ~5% across Bridal and Fashion categories, despite $32.7M in inventory write-downs from the James Allen transition. We view positively SIG's handling of tariffs, commodity increases, and the difficult consumer environment as the "Grow Brand Love" strategy demonstrates early benefits. Management raised FY 27 EPS guidance to $9.20-$11.00 from $8.80-$10.74 and revenue guidance to $6.7B-$6.9B. The James Allen transition represents a simplification to reduce operational complexity while creating near-term costs. SIG's balance sheet remains strong with $602.8M cash and ~$1.7B total liquidity, supporting aggressive capital returns including $83M in Q1 FY 27 share repurchases and plans for an additional $50M accelerated program.

$SIG
Stocks Down Pre-Bell Amid Uncertainty Over US-Iran Peace Talks
US Markets

Stocks Down Pre-Bell Amid Uncertainty Over US-Iran Peace Talks

The benchmark US stock measures were tracking in the red before the opening bell Tuesday amid uncertainty over the status of peace talks between the US and Iran.The S&P 500 and the Nasdaq edged down 0.1% each in premarket activity, while the Dow Jones Industrial Average was off 0.2%. All three indexes logged new closing highs in the previous trading session.In a social media post on Monday, President Donald Trump said that talks with Iran were continuing "at a rapid pace." The post came after Trump told CNBC in an interview earlier on Monday that he "couldn't care less" if negotiations with Tehran failed.Iranian state-affiliated outlet Tasnim reportedly said Monday that the country suspended talks with Washington in retaliation to Israel's military action in Lebanon. In a separate social media post, Trump said he spoke to Israeli Prime Minister Benjamin Netanyahu and Iran-backed Hezbollah representatives, with both agreeing to stop the fighting."These shifting conditions alongside continued kinetic skirmishes between the parties are likely to further erode Iranian trust as officials have already cited the fluidity of priorities as a point of friction with Iran making clear that nuclear dialogue is contingent on successful negotiations to end the war and reopen the Strait of Hormuz," Tudor Pickering Holt said in a note on Monday.West Texas Intermediate crude oil declined 1.2% to $91.06 a barrel before the opening bell, while Brent decreased 1.1% to $93.90.Tuesday's thin economic calendar has the Job Openings and Labor Turnover Survey for April at 10 am ET. Federal Reserve Bank of Cleveland President Beth Hammack is scheduled to speak at 8:30 am.Treasury yields were down in premarket action, with the two-year rate retreating 3.9 basis points to 4.01% and the 10-year rate falling 4.7 basis points to 4.43%.Shares of Marvell Technology (MRVL) jumped 24% pre-bell after the company finished Monday trading with a 7% gain. Hewlett Packard Enterprise (HPE) rose 26% as the information technology firm lifted its full-year outlook and reported stronger-than-expected fiscal second-quarter results.Alphabet's (GOOG, GOOGL) class A and C shares declined more than 2% each as the Google parent disclosed plans to raise $80 billion in equity for artificial intelligence infrastructure expansion.Dollar General (DG), Donaldson (DCI), Victoria's Secret (VSCO) and Signet Jewelers (SIG) report their latest financial results before the bell, among others. Palo Alto Networks (PANW), Ulta Beauty (ULTA) and GitLab (GTLB) post earnings after the markets close.Gold gained 1.2% to $4,561 per troy ounce, while bitcoin dropped 2.7% to $69,539.

Dow JonesNasdaq CompositeS&P 500$DCI$DG$GOOG$GOOGL$GTLB$HPE$MRVL$PANW$SIG$ULTA$VSCO
Wire

Signet Jewelers Likely to Report 'Decent' Q1, UBS Says

Signet Jewelers (SIG) is expected to post a "decent" Q1, with a likely $0.10 EPS beat, UBS Securities said in a note Thursday.Still, the report said the firm could lower the high end of its fiscal 2027 EPS guidance by $0.20 to $0.25 due to macro uncertainty."We believe the market has similar expectations and thus don't expect this to drive big changes on sentiment," the note said. The firm plans to release its Q1 results June 2.The report said the stock's move will depend on its Q2 outlook and quarter-to-date comparable sales trends."We don't have a strong view on what SIG will indicate QTD," the note said.UBS lowered its price target to $121 from $126 while keeping its buy rating.Price: $81.14, Change: $-0.27, Percent Change: -0.33%

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