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Signet Jewelers Surges 24% After Raising Full-Year Profit Forecast
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Shares of Signet Jewelers (NYSE: SIG) surged 24% on September 9, 2026, after the company raised its full-year profit forecast. Despite concerns that rising energy costs and inflation would reduce jewelry spending, shoppers continued to buy pricier items for special occasions like Mother's Day and weddings. Same-store sales rose 2.2% year over year in the fiscal 2027 second quarter ended August 1, while total sales declined less than 1% to $1.5 billion due to store closures. The jeweler closed 53 locations, bringing its total to 2,559 stores. Cost-cutting initiatives boosted adjusted operating income 26% to $107 million. Adjusted earnings per share surged 36% to $2.19, beating Wall Street's estimate of $1.74. Management raised its full-year adjusted EPS forecast to $10.45-$12.15 from $9.20-$11.00. CEO J.K. Symancyk said the company is strengthening lower-priced jewelry sales while driving higher-end purchases, positioning for the holiday season.
Source report
Joe Tenebruso, The Motley Fool Wed, September 9, 2026 at 5:11 PM PDT | 3 min read
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Shares of Signet Jewelers (NYSE: SIG) surged 24% on Wednesday after the world's leading retailer of diamond jewelry boosted its full-year profit forecast.
Got to Get That Bling
Ahead of Signet's earnings release, investors were concerned that rising energy costs and persistent inflation would cause people to spend less on jewelry.
What they heard, however, was that shoppers continued to splurge on pricier jewelry for special occasions like Mother's Day and weddings.
These consumer trends helped drive Signet's same-store sales up by 2.2% year over year in its fiscal 2027 second quarter, which ended on Aug. 1.
Signet's total sales, however, declined by less than 1% to $1.5 billion. The jeweler closed 53 locations over the last two quarters as it continued to downsize its store base, bringing its total to 2,559 stores as of Aug. 1.
Still, Signet's cost-cutting initiatives are boosting its profit margins. The parent company of popular brands like Kay Jewelers, Zales, and Blue Nile saw its adjusted operating income jump 26% to $107 million.
All told, Signet's adjusted earnings per share — boosted by stock buybacks and higher interest income — surged 36% to $2.19. That was well above Wall Street's projections, which had called for per-share profits of $1.74.
Raised Guidance
These encouraging results prompted Signet to lift its full-year profit forecast. Management now expects adjusted earnings per share of $10.45 to $12.15, up from a prior forecast of $9.20 to $11.
CEO J.K. Symancyk said Signet is working to strengthen sales of lower-priced jewelry while continuing to drive purchases of higher-end merchandise.
"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." — J.K. Symancyk, CEO, Signet Jewelers
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Source
Yahoo FinanceWestern