Same-store sales rose by 2.5%, reflecting improved performance at Kay, Zales, and Jared. The company also reported a 22% increase in adjusted operating income to $70.3 million. Executives attributed the gains to better product offerings and refined strategies focused on brand strength and margin expansion.
Signet implemented more effective promotional tactics and inventory controls, which helped boost both merchandise and operating margins. The average unit retail increased by approximately 8%.
On the back of this performance, the company raised its full-year adjusted earnings per share (EPS) guidance to between $7.70 and $9.38. During the quarter, Signet repurchased over 2.3 million shares worth $132.4 million, with $600 million remaining under its current buyback authorisation.
Looking ahead, the retailer expects Q2 sales to fall between $1.47 billion and $1.51 billion, with same-store sales projected in the range of -1.5% to +1%.
Signet also spotlighted its corporate social responsibility efforts, including surpassing $110 million in contributions to St. Jude Children’s Research Hospital and launching its first on-site renewable energy system.
The company operates 2,633 stores across North America and the UK, covering 4.1 million square feet, under brands such as Kay, Zales, Jared, Blue Nile, and James Allen.
