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Fly News Breaks for November 25, 2015
SIG
Nov 25, 2015 | 07:21 EDT
Stephens analyst Rick Patel attributes Signet Jewelers' Q3 earnings miss to gross margin pressures resulting from its sales mix. Patel sees this headwind to likely persist in Q4, but added that it should be less pronounced due to higher sales in the holiday season and that margins should also benefit from lower gold costs. The analyst, who expects new product and marketing initiatives to drive sequentially improved comps, especially at Jared and Zale, in the holiday quarter, keeps an Overweight rating and $155 price target on Signet.
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