Signet Jewelers reported a 2.2% increase in same-store sales in the second quarter of Fiscal 2027, while higher average selling prices across Bridal and Fashion helped lift margins and profitability.
Sales were $1.53 billion, compared with $1.54 billion a year earlier. Merchandise average unit retail increased approximately 6%. Adjusted operating income rose to $107.2 million from $85.4 million, while adjusted diluted EPS increased to $2.19 from $1.61.
Gross margin improved 80 basis points to 39.4%, supported by tariff refunds, lower inventory and distribution costs, partly offset by higher gold costs.
CEO J.K. Symancyk said all of Signet’s fine jewellery brands delivered positive comparable sales, with high single-digit unit growth at higher price points. The company is accelerating merchandise refreshes, customer-experience improvements and marketing ahead of the holiday season.
Signet raised its Fiscal 2027 outlook, increasing adjusted diluted EPS guidance to $10.45-$12.15 from $9.20-$11.00 and adjusted operating income guidance to $535-$605 million from $480-$560 million. Full-year sales guidance remains $6.7-$6.9 billion, with same-store sales now expected to range from flat to +2.5%.
The company also repurchased approximately 1 million shares for $87 million during the quarter and plans a $125 million accelerated share repurchase programme. Its remaining share repurchase authorisation has been expanded to $700 million.