Jim Cramer on Signet Jewelers: “We’ll Be Buying Not as a Special Situation, Which Is What It’s Been, But as a Great Retailer”

Signet Jewelers Limited (NYSE:SIG) is one of the stocks mentioned during the show, as we cover everything Jim Cramer said about the oversold market. Cramer highlighted the company’s latest quarter and the following stock price action, as he commented:

Look at the stock of Signet Jewelers run. This morning, the parent company of Kay, Zales, and Jared put up a robust quarter in a very difficult environment. Stock’s shot up nearly 14% in response. That’s a huge run considering that even though Signet delivered a solid earnings beat, its full-year forecast came in a little light. But they’ve cleaned up the balance sheet, managed to generate a huge amount of cash flow, $525 million. That’s up 20% year over year. That was enough to get buyers very excited, even though stock’s up 58% over the past 12 months. I think it’s not getting full credit… This stock is one of the things that we’re going to be thinking about as a great retailer. We’ll be buying not as a special situation, which is what it’s been, but as a great retailer.

Stock market data. Photo by Burak The Weekender on Pexels

Signet Jewelers Limited (NYSE:SIG) is a diamond retailer that sells jewelry through a variety of store brands, mall-based kiosks, and online platforms. The company’s main brands include Kay, Zales, Jared, Peoples, Banter by Piercing Pagoda, Diamonds Direct, and Blue Nile.

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