Signet Jewelers Ltd., the parent company of Kay Jewelers and Zales, had previously signaled to investors that there would be an upswing in US engagements this year as dating patterns returned to normal. But that forecast was downgraded on Wednesday as the jeweler warned that persistently high inflation and job market uncertainty have forced some young folks to delay engagements.
“If right now they’re worried about their jobs or they’re still paying a little bit more for rent or for gas, then they might wait a few months for that engagement,” Gina Drosos, the CEO of SignetSignet, explained in a Wednesday interview quoted by Bloomberg.
Signet previously told investors that 2024 would be the year of an upswing in US engagements. However, this outlook was revised on Wednesday, and the number of engagements for the year is expected to rise between 5% and 10% versus the previous forecast of 10%.
www.zerohedge.com/markets/major-jeweler-sees-youngsters-postponing-engagements-era-failed-bidenomics