Signet raises full-year profit outlook after positive Q2 financials
Signet Jewelers — which owns the likes of Kay Jewelers, Zales, and Jared in the States, and H. Samuel and Ernest Jones in the UK — has raised its full-year profit outlook after reporting higher same-store sales and a sharp increase in operating income during the second quarter of FY27.
Second-quarter sales came to $1.53 billion — down negligibly year-on-year (YoY) — while same-store sales increased +2.2%.
Operating performance showed a more significant improvement, with operating profit rising more than +3,000% to $87.5 million from $2.8 million in the same period in FY26.
“We delivered another quarter of comp sales growth with a positive comp performance in all fine jewelry brands,” said the company’s CEO, J.K. Symancyk. “This includes high single-digit unit growth at higher price points.
“Building on this momentum, we are accelerating our key brand initiatives, including merchandise refreshes, enhancements to both the online and in-store customer experience, and a more modern and emotionally engaging marketing approach. By leveraging the full strength of our diversified portfolio, 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.”
Reflecting the stronger-than-expected performance, Signet increased its FY27 adjusted operating income guidance to $535 million–$605 million, up from a previous range of $480 million–$560 million.
