Jim Cramer Says He Finds “Signet to Be an Excellent Barometer of the Times”

Signet Jewelers Limited (NYSE:SIG) was among the stocks Jim Cramer was focused on, as he discussed Mad Money’s latest game plan for the week. Cramer noted that the company’s results will highlight the state of the consumer, as he remarked:

We also hear from national jewelry company Signet, which could tell us about the state of the consumer, as everything they sell is discretionary, obviously. I find Signet to be an excellent barometer of the times.

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. During the March 19 episode, Cramer discussed the company’s last earnings and the following market reaction, 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.

READ NEXT: 33 Stocks That Should Double in 3 Years and 15 Stocks That Will Make You Rich in 10 Years 

Disclosure: None. Follow Insider Monkey on Google News.