Signage for Kay Jewelers, a subsidiary of Signet Jewelers Ltd., is displayed on the exterior of a store in New York.
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Shares of Signet Jewelers fell on Thursday despite the parent company of Kay Jewelers, Zales and Jared reporting fiscal third-quarter earnings ahead of analysts’ expectations, prompting it to hike its outlook for the year.
Following a huge run up this year, with its stock soaring 240% year to date, some investors were likely taking their profits, analysts said. UBS retail analyst Jay Sole said he expected shares to be rising after the better-than-expected report.
Signet’s stock was recently down nearly 4%, after rising 4% in premarket…