Signet Jewelers to Delist from London Stock Exchange

Signet Jewelers Ltd. on Tuesday said it intends to delist from the London Stock Exchange as less than 1% of its annual trading volume is completed there.

The company's shares will remain on the New York Stock Exchange with the ticker symbol "SIG."

Signet, which operates the Zale, Kay Jewelry and Jared brands in addition to its namesake brand, said it filed a voluntary application with the United Kingdom's Financial Conduct Authority for delisting. It said the benefit of the London Stock Exchange listing is outweighed by the expense, regulatory burdens and time spent on LSE-driven activity.

Shares will continue to be traded there until March 11, and the cancellation will take effect 8 a.m. GMT on March 14.

Last month, Signet said its same-store sales rose 4.9% during the holiday season and lifted the low end of its guidance for the quarter. Adjusted earnings are expected in the range of $3.54 to $3.60 a share, as the company anticipates same-store sales growth of 4.6% to 5%.

Shares in Signet, which have fallen 29% over the past three months, were inactive premarket.

Write to Anne Steele at [e-mail]

(END) Dow Jones Newswires

February 16, 2016 08:25 ET (13:25 GMT)

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