Kay Jewelers parent Signet shares down as investors fear retailer will have trouble sustaining strong growth


Shares of Signet Jewelers fell on Thursday despite the parent company of Kay Jewelers, Zales and Jared reporting fiscal third-quarter earnings ahead of analysts’ expectations, prompting it to hike its outlook for the year.

Telsey Advisory Group CEO and Chief Research Officer Dana Telsey said in a note to clients that she was pleased with Signet’s third-quarter results, but noted that the company will now face difficult comparisons after the holidays. Some consumers might begin to shift their spending toward experiences, including vacations and tickets to concerts, she said. That could put a damper on Signet’s growth.

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