Signet Jewelers surges after lifting annual profit forecast

Signet Jewelers

03/04/2024 14:45

(Updates)
    ** Shares of Kay Jewelers owner Signet Jewelers  SIG.N  up
as much as 11.2% at $105.74
    ** Co lifts fiscal 2025 adj EPS outlook to a range of $9.90
to $11.52 per diluted share from its prior 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 and 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 fell 11.36% YTD

 (Reporting by Atharva Singh and Annett Mary Manoj in Bengaluru)
 ((Atharva.singh@thomsonreuters.com))