Signet Jewelers announces strong second quarter results with sales of $1.5 billion, a 3.0% increase from Q2 FY25.
The company experienced a 5% same store sales increase at key brands Kay, Zales, and Jared.
Adjusted operating income grew over 20% driven by comp growth, gross margin expansion, and cost savings.
Key highlights include a 9% increase in Merchandise Average Unit Retail (AUR) with notable increases in Bridal and Fashion categories.
Signet Jewelers raised its Fiscal 2026 guidance based on second quarter performance and current market conditions.
Sales Increase
Sales reached $1.5 billion, up 3.0% from Q2 FY25.
Same Store Sales Growth
Key brands experienced a 5% same store sales increase.
Adjusted Operating Income
Adjusted operating income increased over 20% driven by comp growth and gross margin expansion.
Merchandise AUR Growth
Merchandise Average Unit Retail (AUR) increased by 9%, highlighting growth in Bridal and Fashion categories.
Guidance Raise
Fiscal 2026 guidance was raised based on strong second quarter performance and market conditions.
- The company's focus on on-trend fashion assortment and effective promotion strategies drove the second quarter results.
- Increased gross margin rate to 38.6% was attributed to gross merchandise margin expansion and cost leverage.
- Adjustments in operating income and EPS indicate positive financial development and strategic decision-making.
- Cash flow and inventory management reflect the company's efforts to maintain a stable financial position in a competitive market.
Signet Jewelers' second quarter results showcase a strategic approach to growth and profitability, setting a positive outlook for the remainder of Fiscal 2026.