Signet Jewelers Raises Full-Year Earnings Outlook as Fiscal Second-Quarter Profit Tops Estimates

09:08 AM EDT, 09/09/2026 (MT Newswires) -- Signet Jewelers (SIG) lifted its full-year earnings outlook on Wednesday as the diamond jewelry retailer's bottom line exceeded market expectations in the fiscal second quarter amid comparable sales strength across all fine jewelry brands. The Kay Jewelers owner now anticipates adjusted earnings to be in a range of $10.45 to $12.15 per share for fiscal 2027, up from the prior guidance of $9.20 to $11. The current consensus on FactSet is for non-GAAP EPS of $10.82. The stock jumped 14% in the most recent premarket activity. The improved earnings outlook reflects the company's operating performance so far this year, additional share buybacks, tariff refunds and a new consumer credit agreement, Chief Financial Officer Joan Hilson said in a statement. Signet agreed to an extended partnership with Bread Financial (BFH) through December 2035 that will allow the retailer's customers to have consistent access to financing options, it said. Same-store sales are now estimated to be flat to up 2.5% for the ongoing fiscal year, reflecting a higher bottom end than the previous forecast for a decline of about 0.8%. Sales are still projected to come in between $6.7 billion and $6.9 billion. The Street is looking for sales of $6.84 billion. For the three months through Aug. 1, the retailer's adjusted EPS surged to $2.19 from $1.61, surpassing the average analyst estimate of $1.74. Sales ticked down to $1.53 billion from $1.54 billion, in line with the Street's view. Same-store sales rose 2.2%. "We delivered another quarter of (comparable) sales growth with a positive comp performance in all fine jewelry brands," Chief Executive J.K. Symancyk said in the earnings release. "This includes high-single-digit unit growth at higher price points." In a client note emailed on Tuesday, UBS Securities said that its industry checks pointed to a "decent quarter" for Signet, with results expected to produce a "modest EPS beat." The company has implemented initiatives over the last 5 years to boost its omnichannel capabilities, improve jewelry assortment, optimize its supply chain and enhance profitability, the brokerage said in the note. North America revenue edged 0.1% higher to $1.43 billion, with comparable sales increasing 1.9%. International revenue gained 5.2% to $96.6 million, with same-store sales climbing 6%. Signet expects sales to be in a range of $1.37 billion to $1.41 billion for the ongoing quarter, compared with the market's current forecast of $1.39 billion. Same-store sales are anticipated to be down 1% to up 2%. "We are entering the back half of the year well-positioned to deliver compelling value throughout the holiday season for customers across a broad range of income levels," Symancyk said.