Increasingly savvy consumer shopping habits, including online price-comparison shopping and bargain hunting, are taking a toll on luxury jewelry makers.

Signet Jewelers Ltd. (SIG) and Tiffany & Co. (TIF) reported disappointing first-quarter results the past week that weighed on shares, even as other segments of luxury retail, including accessories companies like Coach Inc. (COH) and Burberry Group plc., thrived.

Signet on May 25 reported earnings of $1.03 per share, down from $1.87 per share the year prior and short of the Street estimate of $1.67 per share. And Signet’s same-store sales slid 11.5 percent from last year. SIG closed down about 7 percent in Wednesday's session and was poised for a similar loss on Thursday in pre-market trade.

“As anticipated, we had a very slow start to the year as continued headwinds in the overall retail environment were exacerbated by a slowdown in jewelry spending and company specific challenges,” CEO Mark Light said in a statement. “We continue to take decisive action to adapt our business to the current challenging retail environment and to position our company for long-term growth.”

Tiffany & Co. on May 17 reported first-quarter results that also dragged on the stock, although earnings of $1.45 per share topped the Street view of $1.37 per share. Sales declined 2.4 percent from the year prior.

“While these results modestly exceeded our near-term expectations, we are focused on executing long-term strategies to achieve stronger and sustainable performance,” CEO Michael J. Kowalski said in a statement.

Still, analysts remain fairly bullish on Tiffany stock, with firms like Goldman Sachs Group Inc., Bank of America, and Jefferies Group recently issuing positive ratings. Goldman earlier this month upgraded the stock to a Buy from Neutral, citing in part the company’s potential upside from new leadership, including three new board members and a new CEO. (See also: Goldman Sachs: Tiffany & Co. is a Solid Gold Bet.)

Signet shares are down 42.2 percent year to date, and down 49.1 percent the past year. In contrast, Tiffany & Co. shares are up 9.8 percent year to date, and up 31.5 percent the past year. 

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