Signet Jewelers (SIG) reported first quarter net income of $31.7 million compared to $33.5 million, a year ago. EPS was $0.78, flat with prior year. EPS in the current quarter included $0.78 of restructuring and other charges net of taxes. Adjusted EPS was $1.56, compared to $1.18. Sales increased to $1.55 billion from $1.54 billion, prior year. Same store sales increased 1.8%, for the quarter.
For fiscal 2027, the company now expects adjusted EPS in a range of $9.20 to $11.00, revised from prior guidance range of $8.80 to $10.74. Total sales are now projected in a range of $6.7 to $6.9 billion, updated from prior guidance range of $6.6 to $6.9 billion. Same store sales are now expected between a decline of 0.75% to an increase of 2.5%, revised from prior guidance of between a decline of 1.25% to an increase of 2.5%.
Signet's Board declared a quarterly cash dividend on common shares of $0.35 per share for the second quarter of fiscal 2027, payable August 21, 2026 to shareholders of record on July 24, 2026, with an ex-dividend date of July 24, 2026. The company intends to initiate a $50 million Accelerated Share Repurchase agreement thismonth. Subsequent to the completion of the ASR, the company will have approximately $355 million in share repurchase authorization remaining.
In pre-market trading on NYSE, Signet shares are up 8.58 percent to $92.10.
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