Signet pushes back date
for next earnings report
Signet Jewelers is pushing back its fourth-quarter and full-year earnings release from mid-March to early April.
The change buys time for Signet management to finish an analysis of a potential non-cash impairment charge for the fourth quarter related to the decline in the jewelry retailer’s market capitalization for the 13-week period ending Feb. 2, the company said in a news release.
“The company does not expect any such impairment charge to affect its liquidity or affect cash flows from operating activities,” the news release said in part.
Akron-based Signet said it plans to release fourth-quarter and full-year results about 7 a.m. on April 3. The previous release date was 8:30 a.m. March 14.
Company agrees to fine
for polluting W.Va. waters
A Colorado-based natural gas producer has agreed to pay a $3.15 million civil penalty to resolve pollution violations at 32 drilling sites in West Virginia.
The U.S. Department of Justice said in a news release the agency and the West Virginia Department of Environmental Protection reached a proposed settlement with Antero Resources Corp. over allegations of Clean Water Act violations at sites in Doddridge, Harrison and Tyler counties.
The violations involved the unauthorized disposal of dredged and fill materials into waters near sites where Antero built well pads and other structures involved in fracking.
U.S. Steel credits Trump
with aiding plant reboot
U.S. Steel Corp. will restart construction on an idled manufacturing facility in Alabama, and it gave some of the credit to President Donald Trump's trade policies in an announcement Monday.
Trump's "strong trade actions" are partly responsible for the resumption of work on an advanced plant near Birmingham, the Pittsburgh-based company said in a statement. The administration's tariffs have raised prices on imported steel and aluminum.
Owners' optimism wanes
in new Wells Fargo survey
Small business owners' optimism has taken a deep dive in the first quarter as companies' revenue fell along with owners' expectations for their future sales.
That's the finding of a quarterly survey taken Jan. 9-15 released by Wells Fargo and Gallup.
While 45 percent of the 603 owners surveyed said their revenue increased in the past 12 months, that was down significantly from the 55 percent who reported revenue gains in a survey taken during the fourth quarter.
Grocer to close bakery,
eliminate 411 positions
Kroger said Monday that it will shut down its Columbus bakery immediately, costing 411 people their jobs.
The bakery has been open since May 1928, the Columbus Dispatch reported.
The grocer said there are no plans to close its other facilities.