Signet Jewelers posted a 2.2% rise in same-store sales during the second quarter of Fiscal 2027, supported by higher average selling prices across its Bridal and Fashion categories, which also contributed to improved margins and profitability.
The jewellery retailer recorded quarterly sales of $1.53 billion, compared with $1.54 billion in the same period last year. Merchandise average unit retail rose by approximately 6%. Adjusted operating income climbed to $107.2 million, up from $85.4 million, while adjusted diluted earnings per share increased to $2.19, compared with $1.61 a year earlier.
Gross margin expanded by 80 basis points to 39.4%, aided by tariff refunds as well as lower inventory and distribution expenses. These gains were partially offset by increased gold costs.
Signet CEO J.K. Symancyk said all of the company’s fine jewellery brands recorded positive comparable sales, alongside high-single-digit unit growth in higher price points. The company is also stepping up merchandise updates, customer-experience initiatives and marketing efforts ahead of the holiday shopping season.
Following the quarter’s performance, Signet raised its Fiscal 2027 guidance. Adjusted diluted EPS is now projected at $10.45–$12.15, compared with the previous range of $9.20–$11.00. Adjusted operating income guidance was also increased to $535–$605 million, from $480–$560 million. Full-year sales expectations remain unchanged at $6.7–$6.9 billion, while same-store sales are now expected to range from flat to a 2.5% increase.
During the quarter, Signet repurchased approximately 1 million shares for $87 million and announced plans for a $125 million accelerated share repurchase programme. The company has also increased its remaining share repurchase authorisation to $700 million.