Morning Bites (part 2)

💍Signet has reported a 0.7% YoY drop in same-store sales in 3Q24 (August-October), decelerating from the -3.4% YoY in 2Q24. Despite the YoY decline, we note that sequential same store sales improved for the 6th consecutive quarter. According to the retailer’s press release, same store sales in North America weakened 0.8% YoY, while proceeds from the international segment improved 1.6% YoY

In our view, the consistent recovery trends in the world's key US downstream market (~53% of global retail gem-set jewellery trade) could accelerate the ongoing destocking, supporting sentiment in the stressed diamond market

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