Signet (Zales, Kay, Jared, James Allen) Stock has Fallen 74% in One Year

[HDer]

Just another indication that the retail jewelry market is suffering.

https://finance.yahoo.com/quote/SIG

Full disclosure: this is not advice to buy or sell stock. Just because a stock has fallen a lot doesn't mean it can't/won't fall even further. I own a very very small position in SIG.

 

[whitewave]

5 interesting comments under this article

https://finance.yahoo.com/news/why-signet-jewelers-stock-plunged-140000866.html

 

[HDer]

5 interesting comments under this article

https://finance.yahoo.com/news/why-signet-jewelers-stock-plunged-140000866.html

Blaming poor management is a favorite investor pastime but like Warren Buffett says an industry with poor economics will make any management look bad.

 

[sledge]

Blaming poor management is a favorite investor pastime but like Warren Buffett says an industry with poor economics will make any management look bad.

Agree that management is always blamed; however, in fairness is the industry failing, or just Signet?

I do know that JA (owned by Signet) was pulling some odd sales tactics a few months back that got some negative publicity on this board. I think I pointed out at that time potential financial issues using available public data from Yahoo.

 

[Johnbt]

Google Signet lawsuit and see how many there were just this year.

I'll give you a head start by listing a couple...

"https://www.reuters.com/...signet-lawsuit.../signet-jewelers-unit-pays-11-million-fines-t...

Jan 16, 2019 - Sterling Jewelers Inc, whose brands include Kay Jewelers and Jared, agreed to pay $11 million in fines to settle charges by U.S. and New York regulators that it signed up consumers for store credit cards and credit insurance without permission."

"https://www.bloomberg.com/.../signet-jewelers-ordered-by-judge-to-face-investors-fra...

Nov 26, 2018 - Signet Jewelers Ltd. must face a securities-fraud lawsuit filed by shareholders alleging the company misled them about the health of its credit ..."

Shareholders and stock pickers don't like fraud.

 

[whitewave]

@rocheapplied

 

[the_mother_thing]

Jan 16, 2019 - Sterling Jewelers Inc, whose brands include Kay Jewelers and Jared, agreed to pay $11 million in fines to settle charges by U.S. and New York regulators that it signed up consumers for store credit cards and credit insurance without permission."

Guess they missed how much regulators liked that approach when Wells Fargo did the same.