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What: Shares of specialty retail jeweler Signet Jewelers rose 10% today after its November-December sales topped Wall Street expectations.
So what: Signet's strong holiday season -- total sales jumped 7.1% to $1.23 billion, while same-store sales rose 3.3% -- reinforces a great deal of optimism over the company's growth prospects going forward. Although the U.K. segment continues to struggle amid Europe's woes, Signet's U.S. operations, in which it derives more than 80% of its revenue, saw same-store sales increase a solid 4.7%.
Now what: Management now sees fourth-quarter EPS of $2.05-$2.10. "We believe that Signet is well positioned for fiscal 2014, and we will remain focused on providing our customers with an outstanding experience, while continuing to invest in the business to further our competitive strengths and create shareholder value," CEO Mike Barnes said in a statement. Of course, with the stock now up 30% over the past six months and hitting a new 52-week high, much of that optimism might already be baked into the price.
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The article Why Signet Jewelers Shares Are Shining originally appeared on Fool.com.
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