Diamonds and Dogs
1/8/13GameStop Corp. (GME)
GameStop management should stop playing games because its stock is falling today. Shares fell 6.30% to $23.19 after the company reported worse than expected holiday sales. GameStop said that for the 9-week holiday period, total sales were $2.88 billion down 4.6% from the same period last year. Comparable store sales were down 4.4%, including a 3.5% decline in the U.S. and a 6.4% slide in international stores. The company now expects its fiscal fourth quarter to also show declines of 7.5 to 9%, but management still remains positive on their 2013 outlook. GameStop is trading in the middle of its 52-week range today.
Signet Jewelers Limited (SIG)
Signet Jewelers is sparkling today, up 8.82% at $58.58. The operator of Kay Jewelers and Jared saw its shares climb after news that it had better than expected holiday sales. Signet Jewelers said U.S. sales rose 4.7% during November and December. This time period usually brings in half of Signet's profit and a third of its sales. The good holiday sales also led Signet management to increase expectations for Valentine Day sales. The company rose nearly $5.00 today to set a new 52-week high; soaring past its previous 52-week high of $56.95.