Signet reports quarterly profit as sales edge lower
Signet posted GAAP net income of $52.1 million, swinging from a loss a year earlier as operating income rose to $87.5 million.
Total sales slipped 0.5% to $1.53 billion, while same-store sales rose 2.2% on higher bridal and services demand.
Gross margin widened 0.8 percentage points to 39.4% on about $15 million of tariff refunds and stronger gold recoveries.
E-commerce sales fell 5.5% to $300 million after decommissioning the James Allen website and transitioning the brand into Blue Nile.
Forecast same-store sales of flat to up 2.5% for fiscal 2027, citing brand relaunches, merchandise refreshes, and marketing and customer-experience changes.
SIG•
