Morning Bites (part 2)

💍Signet has reported a YoY drop of 8.9% in same-store sales in 1Q24 (February-April), after the -9.6% YoY in 4Q23. The retailer’s press release indicates that same-store sales in North America shrank 9.2% YoY, while proceeds from the international segment were down 3.2% YoY. According to Signet CEO Virginia Drosos, despite the weak beginning to the quarter, the company saw a notable improvement in sentiment in 1Q24, which was especially strong in May

Overall, we expect the positive momentum mentioned by the CEO to persist, as we maintain our cautiously upbeat view on the diamond sector. We think it might show the first signs of a recovery in the coming 3-6 months

#diamonds
https://metals-wire.com/news-reports