Morning Bites (part 2)

💍Signet reports a further 7.6% YoY decline in same-store sales in 3Q22 (August-October). Same-store sales in North America were down 7.6% YoY, while sales in the international segment fell 6.7% YoY. Meanwhile, Signet continues to anticipate some shift of consumer discretionary spending away from the jewellery category. The dynamics might reflect the recent stagnation in US jewellery sales, as well as unfavourable macroeconomic conditions, which could somewhat weigh on global demand for rough diamonds (the US accounted for ~50% of global diamond jewellery retail sales in 2021)

#diamonds
https://metals-wire.com:3000/news-reports