Why Signet Jewelers Stock Fell Today
Signet Jewelers (NYSE: SIG), which owns brands like Kay and Jared, was losing its shine today after the company cut its guidance for the year and announced the acquisition of Blue Nile. The guidance cut seemed like the main reason for the slide today, though the acquisition may be the bigger long-term news. Adjusted operating income is expected to be approximately $192 million, within its guidance range but toward the lower end.