Tiffany (TIF) on Watch Following Boosted Outlook from Signet (SIG)
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Signet (NYSE: SIG) is moving higher early Tuesday morning following an improved outlook for fourth-quarter 2012.
The company boosted EPS expectations from a range of $1.95 to $2.10 up to a new range of $2.05 to $2.10. The midpoint moved 2.5 percent higher to $2.075. Currently, the Street consensus calls for Q4 EPS of $2.08.
Signet noted that U.S. comparable-store sales rose 4.7 percent in the quarter, leading overall gains. Stores in the U.K. saw a 2.6 percent increase in comps.
Traders will be keeping an eye on peer Tiffany & Co. (NYSE: TIF). The jeweler is expected to report fourth-quarter 2012 results in late February.
The company boosted EPS expectations from a range of $1.95 to $2.10 up to a new range of $2.05 to $2.10. The midpoint moved 2.5 percent higher to $2.075. Currently, the Street consensus calls for Q4 EPS of $2.08.
Signet noted that U.S. comparable-store sales rose 4.7 percent in the quarter, leading overall gains. Stores in the U.K. saw a 2.6 percent increase in comps.
Traders will be keeping an eye on peer Tiffany & Co. (NYSE: TIF). The jeweler is expected to report fourth-quarter 2012 results in late February.
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