Morning Bites (part 2)

💍Signet same-store sales dropped 9.6% YoY in 4Q23 (November-January), broadly in line with the 3Q23 dynamics. Specifically, same-store sales in North America shrank 10.0% YoY (-12.3% YoY in the previous quarter); proceeds from the international segment were down 1.0% YoY (-4.6% YoY in 3Q23). According to Signet CEO Virginia Drosos, the company expects some improvement in same-store sales over FY25 (ends in January-2025), as engagements gradually recover, but total sales are seen falling 2-5% YoY

In our view, the gradual improvement of consumer sentiment in the key US and Chinese markets (which jointly account for ~65% of the world's gem-set jewellery trade) might provide additional support to diamond demand, we believe

#diamonds
https://metals-wire.com/sector/Diamonds