Signet Q2 profit beats estimates, boosts buyback to $700 mln

Signet Jewelers

09/09/2026 12:03

Overview
U.S. jewelry retailer's Q2 revenue was flat yr/yr, meeting analyst expectations
Adjusted EPS for Q2 beat analyst expectations
Company raised full-year adjusted EPS guidance and expanded share repurchase authorization to $700 mln

Outlook
Signet raises full-year adjusted diluted EPS guidance to $10.45-$12.15 from $9.20-$11.00
Company sees fiscal 2027 sales of $6.7-$6.9 bln and same store sales flat to up 2.5%
Signet expects Q3 sales of $1.37-$1.41 bln and same store sales between (1.0%) and 2.0%

Result Drivers
HIGHER PRICE POINT SALES - Co said high single-digit unit growth at higher price points contributed to comp sales growth
GROSS MARGIN GAINS - Gross margin rose due to tariff refunds and lower inventory and distribution costs, partly offset by higher gold costs
COST REDUCTION - SG&A leverage driven by cost reduction from operating model changes and comp sales growth

Company press release: ID:nBw6N7Khba

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Meet
$1.53 bln
$1.53 bln (10 Analysts)
Q2 Adjusted EPS
Beat
$2.19
$1.74 (10 Analysts)
Q2 EPS
 
$1.33
 
Q2 Operating Income
Miss
$87.50 mln
$89.65 mln (10 Analysts)
Q2 Operating Margin
 
5.70%
 
Q2 Same Store Sales Growth
 
2.20%
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 6 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the apparel & accessories retailers peer group is "buy"
Wall Street's median 12-month price target for Signet Jewelers Limited is $101.00, about 22.2% above its September 8 closing price of $82.67
The stock recently traded at 7 times the next 12-month earnings vs. a P/E of 8 three months ago

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For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)