Signet Jewelers rises after quarterly profit beat

Shares of diamond retailer Signet Jewelers SIG.N gain as much as 12% to $88.23

Co reports Q4 adjusted EPS of $6.25, above analysts' expectations of $6.11 - data compiled by LSEG

Posts quarterly sales of $2.35 billion, slightly above estimates of $2.34 billion

Expects annual sales between $6.6 billion and $6.9 billion, below estimates of $6.9 billion; forecasts adjusted EPS between $8.80 and $10.74, the midpoint of which is below analysts' expectation of $10.59

Results reflect a continued stabilization of the business - Telsey Advisory Group

There is room in the range for downside, given the fluid nature of current macro challenges - Telsey analysts

SIG to add James Allen brand products as a proprietary collection, shift complementary styles to the Blue Nile website, and shut down the James Allen site in Q2

As of last close, stock down 5% YTD