Signet Jewelers Shares Tumble After Holiday Season Sales Drop 5.1%

The largest retailer of diamond jewelry shares tumbled Wednesday after the company reported disappointing holiday season sales results. Signet Jewelers (SIG) - Get Reportsaid same-store sales decreased roughly 4.5%. Not only that, the company said total sales declined 5.1%.

CEO Mark Light said, "Signet's disappointing holiday results were driven principally by underperformance in its Sterling division e-commerce business." Following these results, the company says it will maintain the "low end" of its earnings guidance and is revising same-store sales expectations.