Signet Jewelers widens FY24 EPS view to $9.55-$10.18 from $9.55-$10.14

Consensus $9.81. Cuts FY24 revenue view to $7.07B-$7.27B from $7.1B-$7.3B, consensus $7.22B. “We’re reaffirming guidance for FY2024 with the full year outlook updated for the profitable and strategic sale of 15 primarily luxury watch stores in the U.K. We continue to make progress expanding gross margin through merchandise and sourcing strategies and growth in services revenue,” said Joan Hilson, Chief Financial, Strategy & Services Officer. “Cost savings initiatives are on track and healthy inventory enables product newness as we enter the holiday season and improved free cash flow, allowing Signet to return nearly $160 million to shareholders already this year.”