Signet Jewelers Stock Tumbles After Company Cuts Outlook on Soft Holiday Sales

1. Signet Jewelers reported weak holiday sales, dropping shares over 20%. 2. Same-store sales fell 2% in the last 10 weeks, missing forecasts. 3. Updated guidance lowers fourth-quarter sales estimate to $2.32-$2.335 billion. 4. Merchandise margin rose but less than expected due to customer promotions. 5. Shares hit lowest level since October 2022 amid poor holiday demand.