"Tough economic times are another opportunity for us to grow share, thus our acquisition of Blue Nile," Signet Jewelers CEO Gina Drosos told CNBC.
The comments in a"Mad Money" interview came after Signet reported second-quarter results earlier in the day.can continue to expand its market share even as the U.S. economy slows and inflation weighs on consumers, CEO Gina Drosos told CNBC on Thursday. The comments in a"Mad Money" interview came after Signet reported second-quarter results earlier in the day. While earnings per share topped estimates and revenue met expectations, the company's same-store sales fell 8.2% year over year. Wall Street had been expecting a 5.3% decline, which may have contributed to the stock's 12% tumble Thursday.
However, Drosos maintained an upbeat outlook for the parent firm of Zales and Kay Jewelers, suggesting near-term headwinds related to inflation do not change the long-term story.
Source: News Formal (newsformal.com)
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