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Signet Jewelers profit misses consensus by 58.0% in fiscal Q3

Signet Jewelers Ltd. said its normalized net income for the fiscal third quarter ended Nov. 1 was 7 cents per share, compared with the S&P Capital IQ consensus estimate of 18 cents per share.

EPS decreased 81.2% year over year from 39 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $5.9 million, a decline of 81.3% from $31.7 million in the year-earlier period.

The normalized profit margin fell to 0.5% from 4.1% in the year-earlier period.

Total revenue increased 52.7% on an annual basis to $1.18 billion from $771.4 million, and total operating expenses rose 61.5% year over year to $1.16 billion from $717.0 million.

Reported net income totaled a loss of $1.6 million, or a loss of 2 cents per share, compared to income of $33.7 million, or 42 cents per share, in the prior-year period.