Signet Jewelers rises after raising annual profit forecast

Signet Jewelers

03/04/2024 12:57

** Shares of Kay Jewelers owner Signet Jewelers  SIG.N  rise
2% to $97 premarket
    ** Co raises its fiscal 2025 adjusted EPS outlook to a range
of $9.90 to $11.52 per diluted share from its previous range of
$9.08 to $10.48 per diluted share
    ** Co also plans to repurchase half of the preferred shares
from Leonard Green & Partners, a Los Angeles-based private
equity firm 
    ** SIG will pay around $414 mln in cash to investor Leonard
Green & Partners & will settle the transaction from the $1.4 bln
in cash on hand at the end of fiscal 2024
    ** Up to Tuesday's close, stock had fallen 11.36% YTD

 (Reporting by Atharva Singh in Bengaluru)
 ((Atharva.singh@thomsonreuters.com))