Signet Jewelers Raises Full-Year Guidance on Tariff Refunds and Cost Management
Signet Jewelers (SIG) reported a strong second-quarter performance for FY27, with same-store sales rising by 2.2% year-over-year despite total reported sales declining slightly to $1.528 billion. Adjusted operating income increased significantly from $85.4 million in Q2 FY26 to $107.2 million this quarter, driven largely by tariff refunds and cost discipline. The company raised its full-year adjusted EPS guidance by over 10%, citing the positive impact of additional share buybacks and strong operational performance so far in FY27. Gross margin expanded by 80 basis points to 39.4% due to $15 million in tariff refunds, lower inventory costs, and distribution expenses. Despite these gains, some challenges remain: total reported sales dipped slightly from the prior year, comparable Fashion sales fell by 1%, and free cash flow declined to $30.8 million for Q2 FY27 compared to $62.3 million in the same period last year.
Tickers: $SIG
Topics: cost discipline earnings guidance update share buybacks tariff refunds