Signet beats 4Q profit forecasts

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HAMILTON, Bermuda (AP) — Signet Jewelers Ltd. (SIG) on Wednesday reported fiscal fourth-quarter profit of $351.3 million.

The Hamilton, Bermuda-based company said it had profit of $5.24 per share. Earnings, adjusted for pretax gains, were $4.28 per share.

The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $4.26 per share.

The jewelry company posted revenue of $2.29 billion in the period.

For the year, the company reported profit of $519.3 million, or $7.44 per share. Revenue was reported as $6.25 billion.

Signet expects full-year earnings in the range of $3.75 to $4.25 per share, with revenue in the range of $5.9 billion to $6.1 billion.

Signet shares have decreased 15 percent since the beginning of the year. The stock has dropped 30 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SIG at https://www.zacks.com/ap/SIG