Signet Meets High End of Earnings Guide on Sales Decline.

Signet Jewelers Ltd., a major jewelry retailer, exceeded earnings expectations despite a 12.1% decline in sales. The company achieved this by capitalizing on cost savings and gaining market share in the bridal category. Signet's adjusted earnings per share of 24 cents beat expectations of 18 cents per share. The acquisition of Blue Nile for $360 million cash has helped expand Signet's appeal to younger luxury shoppers. The company's stock price rose by 5.89% following the announcement. Signet projects sales of $7.07 billion to $7.27 billion for the year and fourth-quarter sales of $2.4 billion to $2.6 billion. [Extracted from the article]