Up 60% in Three Months, Can This Bargain Stock Keep Gaining?

Signet Jewelers (NYSE: SIG) is the world's largest retailer of diamond jewelry, but as a leader in a mature market, the stock has been overlooked by investors hungry for growth in the artificial intelligence (AI) era.That's led Signet, which owns banners like Kay, Jared, and Zales, to trade at a bargain valuation, and the stock looks more attractive after surging on its first-quarter earnings report. The company returned to same-store sales growth for the first time in several quarters and beat estimates on the top and bottom lines.Signet posted a same-store sales increase of 2.5%, thanks in part to 8% growth in average unit retail (AUR), or average prices. This was driven by a surge in lab-grown diamonds in its fashion segment, meaning non-bridal jewelry. Overall revenue in the quarter rose 2% to $1.54 billion, which topped the consensus at $1.52 billion. It showed off growth throughout the income statement, a credit to the improved assortment that led to comparable-sales growth.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool