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Signet Jewelers (SIG) Stock Soars After Preliminary Earnings Beat Estimates

NEW YORK (TheStreet) -- Signet Jewelers (SIG - Get Report) stock is advancing 10.33% to $109.37 in afternoon trading on Monday after the jewelry retailer reported better-than-expected preliminary earnings for the fiscal 2016 fourth quarter.

Before today's market open, the Bermuda-based parent company of Kay Jewelers and Zales posted adjusted earnings of $3.63 per share for the quarter ended January 30, beating estimates of $3.55 per share.

Comparable store sales increased 4.9% driven by the retailer's credit program and strong holiday sales.

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