Signet Jewelers raises fiscal 2027 guidance following Q2 profit

Signet Jewelers reported second-quarter net income of $52.1 million, a significant improvement from a $9.1 million loss during the same period last year. Adjusted earnings per share (EPS) rose to $2.19, compared to $1.61 in the previous year. The company reported second-quarter sales of $1.5 billion, reflecting a 2.2% increase in same-store sales.

Following these results, Signet Jewelers raised its fiscal 2027 guidance, now expecting adjusted diluted EPS in the range of $10.45 to $12.15. The company also approved an expansion of its share repurchase authorization by approximately $385 million, bringing the total to $700 million. A quarterly cash dividend of $0.35 per share was declared for the third quarter.

In response to the financial performance, Stephens reaffirmed an “overweight” rating on the stock with a price target of $130.00. Shares saw a significant increase in pre-market trading, rising 16 percent to $96.00.