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The owner of Zales, Kay Jewelers and Jared needs a little love.
💍 The big picture: Signet Jewelers today reported a disappointing holiday season, saying that gift shoppers gravitated toward cheaper items — and that the company had little to offer in that space.
The retailer's same-store sales fell 2% in the holiday period despite engagement-related sales meeting expectations.
What they're saying: The company needs to improve "marketing, product design and assortment innovation," CEO J.K. Symancyk said in a statement.
The impact: Signet's stock plunged nearly 22% today.
