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Aug 02, 2025
Signet Q2 2026 Earnings Report
Signet reported improved margins and stronger profitability in Q2 2026, exceeding prior guidance and raising full-year outlook.
Key Takeaways
Signet Jewelers delivered $1.54B in sales and improved adjusted operating income by over 24% YoY. The company reduced net loss and demonstrated margin expansion through strategic initiatives across major brands.
Revenue grew 3.0% YoY to $1.54B, led by stronger fashion assortment and pricing strategies.
Adjusted EPS reached $1.61, up from $1.25 in Q2 FY25.
Operating income turned positive at $2.8M, up from a $100.9M loss a year ago.
Gross margin improved by 60 basis points to 38.6%, driven by merchandise margin expansion.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Signet raised its full-year FY26 guidance, citing solid Q2 performance and measured consumer outlook.
Positive Outlook
- FY26 revenue guidance raised to $6.67B–$6.82B
- Adjusted EPS outlook increased to $8.04–$9.57
- Q3 sales forecast between $1.34B–$1.38B
- Expected adjusted operating income for FY26 up to $515M
- Strong positioning ahead of holiday season with new product launches
Challenges Ahead
- Ongoing digital brand impairments impacted GAAP EPS
- Inventory levels remain flat YoY despite sales growth
- Consumer environment remains 'measured' and uncertain
- Free cash flow remained negative at -$149.6M
- Tariff uncertainty may pressure margins in H2
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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