Kay Jewelers Owner Falls After It Slashes Annual Outlook
- Signet Jewelers cuts fiscal year profit and revenue outlook
- CEO Drosos says shoppers at higher prices now pulling back
A Kay Jewelers store in New York.
Photographer: Mark Kauzlarich/BloombergThis article is for subscribers only.
The owner of Kay Jewelers and Zales slashed its outlook for the remainder of the fiscal year as shoppers rein in their spending on jewelry and other discretionary items.
Signet Jewelers Ltd. shares fell as much as 12% in New York trading, the most since September.