Retail

Signet CEO cautious on jewelry sales as Covid vaccines, travel pick up

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Jewelry sales could see a slowdown later this year as a broader range of economic activity resumes from a pandemic-induced slump, Signet CEO Gina Drosos told CNBC on Thursday.

“We’re very cautious on the back half of the year as the vaccine rolls out and more people are more interested in traveling and entertainment again. We think that could potentially have a negative impact on categories like jewelry,” Drosos said on “Closing Bell.”

The chief executive’s comments came after earlier Thursday the owner of Kay Jewelers and Zales reported better-than-expected sales and per-share earnings for the quarter ending Jan. 30.

Quarterly revenues of $2.19 billion topped Wall Street’s forecast of…



Source cnbc.com

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