Signet Jewelers Ltd (SIG)

Signet Jewelers Shares Climb After Earnings Beat and Higher Full-Year Guidance (SIG)June 2, 2026 9:46 AM
IH Market News Signet Jewelers (NYSE:SIG) moved more than 6% higher in premarket trading on Tuesday after reporting stronger-than-expected first-quarter results and increasing its outlook for fiscal 2027. The jewelry retailer delivered earnings and revenue ahead of Wall Street forecasts, supported by positive comparable sales growth and improved average selling prices across key product categories. First-Quarter Results Exceed Expectations For the first quarter of fiscal 2027, Signet reported earnings per share of $1.56, surpassing analyst estimates of $1.38. Revenue totaled $1.6 billion, also coming in ahead of the consensus forecast of $1.56 billion. The results reflected continued consumer demand across the company’s portfolio of jewelry brands despite a challenging retail environment. Comparable Sales Return to Growth Same-store sales increased 1.8% compared with the prior-year period, providing an encouraging sign for the retailer’s underlying business performance. Signet also reported that merchandise average unit retail prices rose approximately 5%, driven by strength in both bridal jewelry and fashion categories. The combination of higher sales volumes and improved pricing contributed to the company’s better-than-expected quarterly performance. Management Highlights Broad-Based Demand Chief Executive Officer J.K. Symancyk said the company generated growth across all major merchandise categories during the quarter. “We drove topline growth in the first quarter with all categories up on a comparable sales basis. We also delivered positive performances for both Valentine’s Day in February as well as Mother’s Day to start the second quarter,” said Symancyk. Management pointed to the strong holiday-related demand as evidence that consumers continue to prioritize jewelry purchases for key gifting occasions. Margins Remain Stable Adjusted gross profit reached $589.2 million during the quarter, representing 37.9% of total sales. The margin performance was broadly in line with the company’s expectations and demonstrated its ability to maintain profitability while driving sales growth. Second-Quarter Outlook Mixed For the second quarter, Signet expects revenue between $1.50 billion and $1.53 billion, slightly below analysts’ consensus estimate of $1.54 billion. The company forecast same-store sales growth of 0.5% to 2.5% and adjusted EBITDA in a range of $125 million to $139 million. While the near-term outlook was somewhat cautious, investors focused primarily on the stronger full-year forecast. Company Raises Fiscal 2027 Guidance Following the first-quarter beat, Signet increased its adjusted earnings outlook for the full fiscal year. The company now expects adjusted EPS of $9.20 to $11.00, up from its previous guidance range of $8.80 to $10.74. Signet also raised the lower end of its annual revenue forecast, now projecting total sales of between $6.7 billion and $6.9 billion compared with its prior range of $6.6 billion to $6.9 billion. In addition, adjusted EBITDA guidance was increased at the lower end to a range of $665 million to $745 million. The company also lifted the minimum expected level of adjusted operating income to $480 million from $470 million previously. Share Buyback Program Provides Additional Support Alongside its earnings announcement, Signet revealed plans to begin a $50 million accelerated share repurchase program later this month. Following completion of the transaction, the company expects to retain approximately $355 million in remaining share repurchase authorization. The buyback initiative underscores management’s confidence in the business and its commitment to returning capital to shareholders. With improving sales trends, stronger earnings expectations and an expanded share repurchase program, investors responded positively to Signet’s latest results, sending the stock sharply higher ahead of the opening bell. Signet Jewelers stock price Original: Signet Jewelers Shares Climb After Earnings Beat and Higher Full-Year Guidance (SIG)

Signet Jewelers Reports First Quarter Fiscal 2027 ResultsJune 2, 2026 6:50 AM
Business Wire Same Store Sales Growth of 1.8% Raising FY27 Adjusted EPS Guidance Signet Jewelers Limited ("Signet" or the "Company") (NYSE:SIG) today announced its results for the 13 weeks ended May 2, 2026 ("first quarter Fiscal 2027"). "We drove topline growth in the first quarter with all categories up on a comparable sales basis. We also delivered positive performances for both Valentine’s Day in February as well as Mother’s Day to start the second quarter," said J.K. Symancyk, Chief Executive Officer. "These early proof points of our Grow Brand Love strategy show we can perform and transform at the same time. We're accelerating go-to-market plans across Kay, Zales, and Jared - sharpening brand distinction through more impactful marketing, redesigning digital experiences, and creating more compelling store environments. These initiatives build on each brand's strengths and are designed to foster sustainable growth." "We delivered double digit Adjusted Operating Income growth in the first quarter driven by cost reduction from the re-organization completed last year and leverage from comparable sales growth. Our consistent performance, inventory management, and free cash flow conversion has allowed us to return over $125 million to shareholders this year through today. We also intend to initiate a $50 million accelerated share repurchase plan this month as part of Signet's ongoing programmatic returns to shareholders," said Joan Hilson, Chief Operating and Financial Officer. "Looking forward to full year Fiscal '27, we are raising the midpoint of guidance to reflect Q1 performance and Q2 momentum. We are further increasing the adjusted EPS range for the year to reflect the additional share repurchases since March." First Quarter Fiscal 2027 Highlights: Sales of $1.6 billion on a same store sales ("SSS")(1) increase of 1.8% to Q1 of FY26. Merchandise average unit retail ("AUR")(2) was up approximately 5% to Q1 of FY26, with growth in both Bridal and Fashion. Operating income of $36.9 million, down from $48.1 million in Q1 of FY26. Adjusted operating income(3) of $78.6 million, up from $70.3 million in Q1 of FY26. Diluted earnings per share ("EPS") of $0.78, consistent with Q1 of FY26. The current quarter diluted EPS includes $0.78 of restructuring and other charges net of taxes. Adjusted diluted EPS(3) of $1.56, compared to $1.18 in Q1 of FY26. (1) Same store sales include physical stores and e-commerce sales. Further, beginning in Q1 FY27, the calculation of SSS excludes the adjustment reflected in total sales to defer the recognition of extended service agreements. For further information, please refer to Signet's Q1 FY27 Quarterly Report on Form 10-Q. (2) AUR reflects merchandise sales on a constant currency basis, net of discounts and promotions, divided by units. (3) See Non-GAAP Financial Measures section below.   (in millions, except per share amounts) Q1 Fiscal 2027   Q1 Fiscal 2026 Sales $ 1,553.6     $ 1,541.6   SSS % change (1)   1.8 %     2.7 % GAAP       Operating income $ 36.9     $ 48.1   Operating margin   2.4 %     3.1 % Diluted EPS $ 0.78     $ 0.78   Adjusted (2)       Adjusted operating income $ 78.6     $ 70.3   Adjusted operating margin   5.1 %     4.6 % Adjusted diluted EPS $ 1.56     $ 1.18   (1) Same store sales include physical stores and e-commerce sales. Further, beginning in Q1 FY27, the calculation of SSS excludes the adjustment reflected in total sales to defer the recognition of extended service agreements. The SSS % change for Q1 FY26 has been adjusted from the previously reported amount consistent with the revised methodology. (2)   See Non-GAAP Financial Measures section below. First Quarter Fiscal 2027 Results: Gross margin was $556.5 million, or 35.8% of sales, down approximately $42 million to Q1 of FY26. The gross margin decline included inventory write-downs relating to the transition of James Allen. Adjusted gross margin was $589.2 million, or 37.9% of sales, in line with the Company's expectations. SG&A was $509.6 million, or 32.8% of sales, down from $526.0 million, or 34.1% of sales, in Q1 of FY26. The leverage in SG&A was driven by cost reduction from the reorganization completed in FY26 and from sales growth. Operating income was $36.9 million, or 2.4% of sales, compared to $48.1 million, or 3.1% of sales, in Q1 of FY26, and included $41.7 million of restructuring and related charges - largely non-cash - in Q1 FY27 primarily related to the transition of James Allen. Adjusted operating income was $78.6 million, or 5.1% of sales, compared to $70.3 million, or 4.6% of sales, in Q1 of FY26. The current quarter income tax expense was $9.1 million compared to $12.1 million in Q1 of FY26. Adjusted income tax expense was $19.5 million compared to $17.6 million in Q1 of FY26. Diluted EPS was $0.78, flat to Q1 of FY26. Diluted EPS in the current quarter included $0.78 of restructuring and other charges net of taxes. Adjusted diluted EPS was $1.56, compared to $1.18 in Q1 of FY26. Adjusted diluted EPS reflected higher adjusted operating income, lower diluted share count, and higher interest income. Balance Sheet and Statement of Cash Flows: Cash used in operating activities for the first quarter of FY27 was $144.7 million compared to $175.3 million in the prior year. Cash and cash equivalents were $602.8 million as of quarter end, compared to $264.1 million in Q1 of FY26. Total liquidity was approximately $1.7 billion, up more than $300 million to the prior year. Inventory ended the quarter at $2.0 billion, approximately flat to Q1 of FY26. Capital Returns to Shareholders: Signet's Board of Directors 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. In the first quarter of FY27, Signet repurchased approximately 0.9 million common shares for $83 million. Subsequent to the first quarter, the Company repurchased an additional 0.4 million shares for approximately $30 million. Additionally, the Company intends to initiate a $50 million Accelerated Share Repurchase ("ASR") agreement this month. Subsequent to the completion of the ASR, the Company will have approximately $355 million in share repurchase authorization remaining. Second Quarter and Full Year Fiscal 2027 Guidance Range:   Second Quarter Total sales $1.50 to $1.53 billion Same store sales +0.5% to +2.5% Adjusted operating income (1) $79 to $93 million Adjusted EBITDA (1) $125 to $139 million (1) See description of non-GAAP financial measures below. Forecasted adjusted operating income and adjusted EBITDA exclude potential non-recurring charges, such as restructuring and reorganizational charges or asset impairments. However, given the potential impact of non-recurring charges to the GAAP operating income, we cannot provide forecasted GAAP operating income or the probable significance of such items without unreasonable efforts. As such, we do not present a reconciliation of forecasted adjusted operating income or adjusted EBITDA to corresponding forecasted GAAP amounts.   Updated Fiscal 2027 Previous Fiscal 2027 Total sales $6.7 to $6.9 billion $6.6 to $6.9 billion Same store sales (0.75%) to 2.5% (1.25%) to 2.5% Adjusted operating income (1) $480 to $560 million $470 to $560 million Adjusted EBITDA (1) $665 to $745 million $655 to $745 million Adjusted diluted EPS (1) $9.20 to $11.00 $8.80 to $10.74 (1) See description of non-GAAP financial measures below. Forecasted adjusted operating income, adjusted EBITDA and adjusted diluted EPS exclude potential non-recurring charges, such as restructuring and reorganizational charges or asset impairments. However, given the potential impact of non-recurring charges to the GAAP operating income and diluted EPS, we cannot provide forecasted GAAP operating income or diluted EPS or the probable significance of such items without unreasonable efforts. As such, we do not present a reconciliation of forecasted adjusted operating income, adjusted EBITDA and adjusted diluted EPS to corresponding forecasted GAAP amounts. The Company's Fiscal 2027 guidance range is based on the following assumptions: Assumes $60 to $80 million in net revenue reduction related to the transition of the James Allen brand with a minimal impact on adjusted operating income. A dynamic tariff, commodity, and consumer environment. Planned capital expenditures of approximately $150 to $180 million. Net square footage decrease of low single digit for the year. Annual tax rate of 23% to 25%, excluding any potential discrete items. Adjusted diluted EPS for Fiscal 2027 excludes any potential further share repurchases subsequent to the ASR. This assumes a full year weighted average diluted share count of approximately 39.5 million shares. Our Purpose and Sustainability: Our latest Corporate Citizenship & Sustainability Report is set to be released later this month and will highlight our Fiscal 2026 efforts to advance our Corporate Sustainability Goals through our Three Loves framework—Love for All People, Love for Our Team, and Love for Our Planet and Products. We continue to make strong progress against our commitment to leave a positive legacy in the global communities where we work, live, and serve. Highlights of the report will include reaching $122 million in cumulative donations to St. Jude Children’s Research Hospital® over our 27-year partnership; being named a Great Place to Work-Certified™ company for the sixth consecutive year, reflecting the pride and engagement of our team members; and being recognized on Ethisphere’s 2026 World’s Most Ethical Companies® list, underscoring our continued commitment to ethical business practices and positive impact for our team, communities, and stakeholders. Conference Call: A conference call is scheduled for June 2, 2026 at 8:30 a.m. ET and a simultaneous audio webcast is available at www.signetjewelers.com. The call details are:
United States (Toll Free) +1 833 461 5787
International +1 585 542 9983
Meeting ID 515979407
Registration for the listen-only webcast is available at the following link:
https://events.q4inc.com/attendee/515979407 A replay and transcript of the call will be posted on Signet's website as soon as they are available and will be accessible for one year. About Signet and Safe Harbor Statement: Signet operates approximately 2,600 stores primarily under the name brands of Kay Jewelers, Zales, Jared, Banter by Piercing Pagoda, Diamonds Direct, Blue Nile, Peoples Jewellers, H.Samuel, and Ernest Jones. As a Purpose-driven and sustainability-focused company, Signet is a participant in the United Nations Global Compact and adheres to its principles-based approach to responsible business. Further information on Signet is available at www.signetjewelers.com. See also www.kay.com, www.zales.com, www.jared.com, www.banter.com, www.diamondsdirect.com, www.bluenile.com, www.peoplesjewellers.com, www.hsamuel.co.uk, www.ernestjones.co.uk. This release contains statements which are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based upon management's beliefs and expectations as well as on assumptions made by and data currently available to management, appear in a number of places throughout this document and include statements regarding, among other things, results of operations, financial condition, liquidity, prospects, growth, strategies and the industry in which we operate. The use of the words “guidance,” “expects,” “continue,” “intends,” “anticipates,” “enhance,” “estimates,” “predicts,” “believes,” “should,” “potential,” “may,” “preliminary,” “forecast,” “objective,” “opportunity,” “plan,” “progress,” “strategy,” “target,” or “will” and other similar expressions are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to a number of risks and uncertainties which could cause the actual results to not be realized, including, but not limited to: executing or optimizing major business or strategic initiatives, such as expansion of the services business or realizing the benefits of our restructuring plans or transformation strategies, including those that the Company may develop in the future; attracting and retaining key executive talent during periods of leadership transition, such as the recent changes in our senior leadership from the reorganization under our Grow Brand Love strategy; the failure to adequately mitigate the impact of existing tariffs and/or the imposition of additional duties, tariffs, taxes and other charges or other barriers to trade or impacts from trade relations; impacts of US government shutdowns on consumer spending; difficulty or delay in executing or integrating an acquisition; the impact of the conflicts in the Middle East on financial markets and consumer spending, such as from the impact of higher oil and gas prices, as well as on our operations of our quality control and technology centers in Israel; the negative impacts that public health crisis, disease outbreak, epidemic or pandemic has had, and could have in the future, on our business, financial condition, profitability and cash flows; risks relating to shifts in consumer spending away from the jewelry category or away from the cultural customs of expressing commitments through engagements and weddings; trends toward more experiential purchases such as travel; general economic or market conditions, including impacts of inflation or other pricing environment factors on our merchandise costs or other operating costs; a prolonged slowdown in the growth of the jewelry market or a recession in the overall economy; financial market risks; a decline in consumer discretionary spending or deterioration in consumer financial position; disruptions in our supply chain; our ability to attract and retain labor; changes to regulations relating to customer credit; disruption in the availability of credit for customers and customer inability to meet credit payment obligations, which has occurred and may continue to deteriorate; our ability to achieve the benefits related to the outsourcing of the credit portfolio, including due to technology disruptions and/or disruptions arising from changes to or termination of the relevant outsourcing agreements, as well as a potential increase in credit costs due to the current interest rate environment; deterioration in the performance of individual businesses or of the Company’s market value relative to its book value, resulting in further impairments of long-lived assets or intangible assets or other adverse financial consequences; the volatility of our stock price; the impact of financial covenants, credit ratings or interest volatility on our ability to borrow; our ability to maintain adequate levels of liquidity for our cash needs, including debt obligations, payment of dividends, planned share repurchases (including execution of accelerated share repurchases and the payment of related excise taxes) and capital expenditures as well as the ability of our customers, suppliers and lenders to access sources of liquidity to provide for their own cash needs; potential regulatory changes; future legislative and regulatory requirements in the US and globally relating to climate change, including any new climate related disclosure or compliance requirements, such as those issued in the state of California; exchange rate fluctuations; the cost, availability of and demand for diamonds, gold and other precious metals, including any impact on the global market supply of diamonds due to the ongoing conflicts in the Middle East, the potential sale or divestiture of the De Beers Diamond Company and its natural diamond mining operations by parent company Anglo-American plc, and the ongoing Russia-Ukraine conflict or related sanctions; stakeholder reactions to disclosure regarding the source and use of certain minerals; scrutiny or detention of goods produced in certain territories resulting from trade restrictions; seasonality of our business; the merchandising, pricing and inventory policies followed by us and our ability to manage inventory levels; our relationships with suppliers including the ability to continue to utilize extended payment terms and the ability to obtain merchandise that customers wish to purchase; the level of competition and promotional activity in the jewelry sector; our ability to optimize our multi-year strategy to gain market share, expand and improve existing services, innovate and achieve sustainable, long-term growth; the maintenance and continued innovation of our OmniChannel retailing and ability to increase digital sales, as well as management of digital marketing costs; failure to anticipate and keep pace with changing fashion trends; changes in the costs, retail prices, supply and consumer acceptance of, and demand for gem quality lab-grown diamonds and adequate identification of the use of substitute products in our jewelry; ability to execute successful marketing programs and manage social media; the ability to optimize our real estate footprint, including operating in attractive trade areas and effectively monitoring changes in consumer traffic in mall locations; the performance of and ability to recruit, train, motivate and retain qualified team members - particularly store associates in regions experiencing low unemployment rates; management of social, ethical and environmental risks; ability to deliver on our corporate sustainability goals or our environmental, social and governance goals; the reputation of Signet and its brands; inadequacy in and disruptions to internal controls and systems, including related to the migration to new information technology systems which impact financial reporting; risks associated with the Company’s and its third-party service providers’ use of artificial intelligence; security breaches and other disruptions to our or our third-party providers’ information technology infrastructure and databases; an adverse development in legal or regulatory proceedings or tax matters, including any new claims or litigation brought by employees, suppliers, consumers or shareholders, regulatory initiatives or investigations, assessments or penalties levied by tax authorities, and ongoing compliance with regulations and any consent orders or other legal or regulatory decisions; failure to comply with labor regulations; collective bargaining activity; changes in corporate taxation rates, laws, rules or practices in the US and other jurisdictions in which our subsidiaries are incorporated, including developments related to the tax treatment of companies engaged in internet commerce or deductions associated with payments to foreign related parties that are subject to a low effective tax rate; risks related to international laws and Signet being domiciled in Bermuda; risks relating to the outcome of pending litigation; our ability to protect our intellectual property or assets including cash which could be affected by failure of a financial institution or conditions affecting the banking system and financial markets as a whole; changes in assumptions used in making accounting estimates relating to items such as extended service plans or asset impairments; or the impact of weather-related incidents, natural disasters, organized crime or theft, increased security costs, strikes, protests, riots or terrorism, or acts of war (including the ongoing Russia-Ukraine and conflicts in the Middle East). For a discussion of these and other risks and uncertainties which could cause actual results to differ materially from those expressed in any forward looking statement, see the “Risk Factors” and “Forward-Looking Statements” sections of Signet’s Fiscal 2026 Annual Report on Form 10-K filed with the SEC on March 19, 2026 and quarterly reports on Form 10-Q and the “Safe Harbor Statements” in current reports on Form 8-K filed with the SEC. Signet undertakes no obligation to update or revise any forward-looking statements to reflect subsequent events or circumstances, except as required by law. Condensed Consolidated Statements of Operations (Unaudited)     13 weeks ended (in millions, except per share amounts) May 2, 2026   May 3, 2025 Sales $ 1,553.6     $ 1,541.6   Cost of sales   (997.1 )     (942.8 ) Gross margin   556.5       598.8   Selling, general and administrative expenses   (509.6 )     (526.0 ) Other operating expense, net   (10.0 )     (24.7 ) Operating income   36.9       48.1   Interest income, net   3.6       0.8   Other non-operating income (expense), net   0.3       (3.3 ) Income before income taxes   40.8       45.6   Income taxes   (9.1 )     (12.1 ) Net income $ 31.7     $ 33.5           Earnings per common share:       Basic $ 0.79     $ 0.79   Diluted $ 0.78     $ 0.78   Weighted average common shares outstanding:       Basic   40.0       42.5   Diluted   40.4       42.7           Dividends declared per common share $ 0.35     $ 0.32   Condensed Consolidated Balance Sheets (Unaudited)   (in millions) May 2, 2026   January 31, 2026   May 3, 2025 Assets           Current assets:           Cash and cash equivalents $ 602.8     $ 874.8     $ 264.1   Inventories   1,994.0       1,940.1       2,006.5   Income taxes   36.5       18.7       16.0   Other current assets   183.0       189.9       180.5   Total current assets   2,816.3       3,023.5       2,467.1   Non-current assets:           Property, plant and equipment, net   487.7       498.8       492.5   Operating lease right-of-use assets   1,155.1       1,146.6       1,103.9   Goodwill   428.4       428.4       482.0   Intangible assets, net   286.3       286.4       307.6   Other assets   283.7       291.0       301.0   Deferred tax assets   271.4       277.4       297.8   Total assets $ 5,728.9     $ 5,952.1     $ 5,451.9   Liabilities and shareholders’ equity           Current liabilities:           Accounts payable $ 693.2     $ 772.1     $ 572.1   Accrued expenses and other current liabilities   326.8       387.3       371.3   Deferred revenue   382.0       377.1       366.7   Operating lease liabilities   292.1       286.9       286.9   Income taxes   49.3       65.4       49.5   Total current liabilities   1,743.4       1,888.8       1,646.5   Non-current liabilities:           Operating lease liabilities   931.5       930.4       894.5   Other liabilities   81.1       82.8       77.9   Deferred revenue   908.9       908.6       886.1   Deferred tax liabilities   166.8       175.3       171.2   Total liabilities   3,831.7       3,985.9       3,676.2   Commitments and contingencies           Shareholders’ equity:           Common shares   12.6       12.6       12.6   Additional paid-in capital   111.4       120.4       105.3   Other reserves   0.4       0.4       0.4   Treasury shares at cost   (2,008.0 )     (1,934.9 )     (1,852.2 ) Retained earnings   4,004.3       3,986.9       3,765.5   Accumulated other comprehensive loss   (223.5 )     (219.2 )     (255.9 ) Total shareholders’ equity   1,897.2       1,966.2       1,775.7   Total liabilities and shareholders’ equity $ 5,728.9     $ 5,952.1     $ 5,451.9   Condensed Consolidated Statements of Cash Flows (Unaudited)   13 weeks ended (in millions) May 2, 2026   May 3, 2025 Operating activities       Net income $ 31.7     $ 33.5   Adjustments to reconcile net income to net cash used in operating activities:       Depreciation and amortization   34.7       37.0   Amortization of unfavorable contracts   —       (0.5 ) Share-based compensation   7.5       7.0   Deferred taxation   (1.9 )     3.6   Other non-cash movements, net   2.3       7.0   Changes in operating assets and liabilities:       Inventories   (41.6 )     (56.1 ) Other assets   (1.9 )     (9.2 ) Accounts payable   (79.8 )     (187.5 ) Accrued expenses and other liabilities   (64.0 )     (5.4 ) Change in operating lease assets and liabilities   (2.5 )     (0.8 ) Deferred revenue   5.1       3.6   Income tax receivable and payable   (34.3 )     (7.5 ) Net cash used in operating activities   (144.7 )     (175.3 ) Investing activities       Capital expenditures   (24.5 )     (36.6 ) Other investing activities, net   0.6       —   Net cash used in investing activities   (23.9 )     (36.6 ) Financing activities       Dividends paid on common shares   (13.0 )     (12.6 ) Repurchase of common shares   (82.7 )     (117.4 ) Other financing activities, net   (6.9 )     (7.3 ) Net cash used in financing activities   (102.6 )     (137.3 ) Cash and cash equivalents at beginning of period   874.8       604.0   Decrease in cash and cash equivalents   (271.2 )     (349.2 ) Effect of exchange rate changes on cash and cash equivalents   (0.8 )     9.3   Cash and cash equivalents at end of period $ 602.8     $ 264.1   Reportable Segment Information - First Quarter Fiscal 2027: Sales:     Change from previous year     First Quarter of Fiscal 2027 Same store sales   Non-same store sales, net   Total sales at constant exchange rate (1)   Exchange translation impact   Total sales as reported   Total reported sales (in millions) North America segment 1.6 %   (0.8 )%   0.8 %   0.1 %   0.9 %   $ 1,463.0 International segment 5.6 %   (0.8 )%   4.8 %   4.4 %   9.2 %   $ 87.5 Other segment (2) nm   nm   nm   nm   nm   $ 3.1 Signet 1.8 %   (1.3 )%   0.5 %   0.3 %   0.8 %   $ 1,553.6 (1)   See Non-GAAP Financial Measures section below. (2)   Includes sales from Signet’s diamond sourcing operation. nm Not meaningful. Operating income and adjusted operating income:       First quarter Fiscal 2027   First quarter Fiscal 2026 Operating income (loss) in millions   $   % of segment sales   $   % of segment sales North America segment   $ 60.4     4.1 %   $ 83.0     5.7 % International segment     (6.6 )   (7.5 )%     (7.0 )   (8.7 )% Other segment     (3.4 )   nm       (3.9 )   nm   Corporate and unallocated expenses     (13.5 )   nm       (24.0 )   nm   Total operating income   $ 36.9     2.4 %   $ 48.1     3.1 %     First quarter Fiscal 2027   First quarter Fiscal 2026 Adjusted operating income (loss) in millions (1) $   % of segment sales   $   % of segment sales North America segment   $ 101.4     6.9 %   $ 97.1     6.7 % International segment     (6.6 )   (7.5 )%     (7.0 )   (8.7 )% Other segment     (3.4 )   nm       (3.9 )   nm   Corporate and unallocated expenses     (12.8 )   nm       (15.9 )   nm   Total adjusted operating income   $ 78.6     5.1 %   $ 70.3     4.6 % (1) See Non-GAAP Financial Measures section below. nm Not meaningful. Real Estate Portfolio: Signet has a diversified real estate portfolio. On May 2, 2026, Signet operated 2,559 stores totaling 4.0 million square feet of selling space. Compared to year-end Fiscal 2026, store count decreased by 23 and square feet of selling space decreased 0.4%. Store count by segment January 31, 2026   Openings   Closures   May 2, 2026 North America segment 2,329   —   (21 )   2,308 International segment 253   —   (2 )   251 Signet 2,582   —   (23 )   2,559 Non-GAAP Financial Measures In addition to reporting the Company's financial results in accordance with generally accepted accounting principles ("GAAP"), the Company reports certain financial measures on a non-GAAP basis. The Company believes that non-GAAP financial measures, when reviewed in conjunction with GAAP financial measures, can provide more information to assist investors in evaluating historical trends and current period performance and liquidity. For these reasons, internal management reporting also includes these non-GAAP measures. These non-GAAP financial measures should be considered in addition to, and not superior to or as a substitute for, the GAAP financial measures presented in this earnings release and the Company’s condensed consolidated financial statements and other publicly filed reports. In addition, our non-GAAP financial measures may not be the same as or comparable to similar non-GAAP measures presented by other companies. The Company reports the following non-GAAP financial measures: sales changes on a constant currency basis, free cash flow, adjusted operating income, adjusted operating margin, adjusted diluted earnings per share ("EPS") and adjusted earnings before interest, income taxes, depreciation and amortization (“adjusted EBITDA”). The Company provides the year-over-year change in total sales excluding the impact of foreign currency fluctuations to provide transparency to performance and enhance investors’ understanding of underlying business trends. The effect from foreign currency, calculated on a constant currency basis, is determined by applying current year average exchange rates to prior year sales in local currency. Free cash flow is a non-GAAP measure defined as the net cash used in operating activities less capital expenditures. Management considers this metric to be helpful in understanding how the business is generating cash from its operating and investing activities that can be used to meet the financing needs of the business. Free cash flow is an indicator frequently used by management to measure the efficiency of converting operating income to cash, as well as evaluate its overall liquidity needs and determine appropriate capital allocation strategies. Free cash flow does not represent the residual cash flow available for discretionary purposes. Adjusted operating income is a non-GAAP measure defined as operating income excluding the impact of certain items which management believes are not necessarily reflective of normal operational performance during a period. Management finds the information useful when analyzing operating results to appropriately evaluate the performance of the business without the impact of these certain items. Management believes the consideration of measures that exclude such items can assist in the comparison of operational performance in different periods which may or may not include such items. Management also utilizes adjusted operating margin, defined as adjusted operating income as a percentage of total sales, to further evaluate the effectiveness and efficiency of the Company’s flexible operating model. Adjusted diluted EPS is a non-GAAP measure defined as diluted EPS excluding the impact of certain items which management believes are not necessarily reflective of normal operational performance during a period. Management finds the information useful when analyzing financial results in order to appropriately evaluate the performance of the business without the impact of these certain items. In particular, management believes the consideration of measures that exclude such items can assist in the comparison of performance in different periods which may or may not include such items. The Company estimates the tax effect of all non-GAAP adjustments by applying the relevant statutory tax rate to each item. The income tax items are used to estimate adjusted income tax expense and represent the discrete amount that affected the diluted EPS during the period. Adjusted EBITDA is a non-GAAP measure, defined as earnings before interest, income taxes, depreciation and amortization, share-based compensation expense, non-operating expense, net and certain non-GAAP accounting adjustments. Adjusted EBITDA is considered an important indicator of operating performance as it excludes the effects of financing and investing activities by eliminating the effects of interest, depreciation and amortization costs and certain accounting adjustments. The following information provides reconciliations of the most comparable financial measures calculated and presented in accordance with GAAP to presented non-GAAP financial measures. Free cash flow     13 weeks ended (in millions) May 2, 2026   May 3, 2025 Net cash used in operating activities $ (144.7 )   $ (175.3 ) Capital expenditures   (24.5 )     (36.6 ) Free cash flow $ (169.2 )   $ (211.9 ) Adjusted gross margin       13 weeks ended (in millions) May 2, 2026   May 3, 2025 Total gross margin $ 556.5   $ 598.8 Restructuring-related charges (1)   32.7     — Total adjusted gross margin $ 589.2   $ 598.8 Adjusted operating income     13 weeks ended (in millions) May 2, 2026   May 3, 2025 Total operating income $ 36.9   $ 48.1 Restructuring and related charges (1)   40.2     19.0 Asset impairments (1)   1.5     3.2 Total adjusted operating income $ 78.6   $ 70.3 North America segment adjusted operating income     13 weeks ended (in millions) May 2, 2026   May 3, 2025 North America segment operating income $ 60.4   $ 83.0 Restructuring and related charges (1)   39.5     10.9 Asset impairments (1)   1.5     3.2 North America segment adjusted operating income $ 101.4   $ 97.1 Corporate and unallocated expenses adjusted operating loss     13 weeks ended (in millions) May 2, 2026   May 3, 2025 Corporate and unallocated expenses operating loss $ (13.5 )   $ (24.0 ) Restructuring and related charges (1)   0.7       8.1   Corporate and unallocated expenses adjusted operating loss $ (12.8 )   $ (15.9 ) Adjusted income tax provision     13 weeks ended (in millions) May 2, 2026   May 3, 2025 Income tax expense $ 9.1   $ 12.1 Restructuring and related charges (1)   10.0     4.7 Asset impairments (1)   0.4     0.8 Adjusted income tax expense $ 19.5   $ 17.6 Adjusted effective tax rate     13 weeks ended   May 2, 2026   May 3, 2025 Effective tax rate 22.3 %   26.5 % Restructuring and related charges (1) 1.2 %   (0.4 )% Asset impairments (1) 0.1 %   (0.1 )% Adjusted effective tax rate 23.6 %   26.0 % Adjusted diluted EPS     13 weeks ended   May 2, 2026   May 3, 2025 Diluted EPS $ 0.78     $ 0.78   Restructuring and related charges (1)   1.00       0.46   Asset impairments (1)   0.04       0.07   Tax impact of above items   (0.26 )     (0.13 ) Adjusted diluted EPS $ 1.56     $ 1.18   Adjusted EBITDA     13 weeks ended (in millions) May 2, 2026   May 3, 2025 Net income $ 31.7     $ 33.5   Income taxes   9.1       12.1   Interest income, net   (3.6 )     (0.8 ) Depreciation and amortization   34.7       37.0   Amortization of unfavorable contracts   —       (0.5 ) Other non-operating (income) expense, net   (0.3 )     3.3   Share-based compensation   7.5       7.0   Other accounting adjustments       Restructuring and related charges (1)   40.2       19.0   Asset impairments (1)   1.5       3.2   Adjusted EBITDA $ 120.8     $ 113.8   Footnotes to Non-GAAP Reconciliation Tables (1) Restructuring and related charges and asset impairment charges during the 13 weeks ended May 2, 2026 and May 3, 2025 were incurred primarily as a result of the Company’s Grow Brand Love strategy initiatives. Restructuring and related charges in the North America reportable segment during the 13 weeks ended May 2, 2026 includes $32.7 million of inventory write-downs related to the planned disposal of inventory in connection with the discontinuance of James Allen and Rocksbox as separately operated brands and the decommissioning of their respective websites.   View source version on businesswire.com: https://www.businesswire.com/news/home/20260602204356/en/ Investors:
Rob Ballew
Senior Vice President, Investor Relations & Capital Markets
robert.ballew@signetjewelers.com or
IR@signetjewelers.com Media:
Colleen Rooney
Chief Corporate Affairs & Sustainability Officer
+1-330-668-5932
colleen.rooney@signetjewelers.com Original: Signet Jewelers Reports First Quarter Fiscal 2027 Results

Signet Jewelers Appoints Jeffrey Gennette to Its BoardMay 7, 2026 6:13 PM
Business Wire Signet Jewelers Limited ("Signet" or the "Company") (NYSE:SIG) today announced that its Board of Directors ("Board") has appointed Jeffrey Gennette to the Board, effective May 6, 2026. A former Chairman and Chief Executive Officer of Macy’s, Inc., Mr. Gennette brings more than four decades of leadership experience at one of the world’s most recognized omnichannel retailers, further strengthening Signet’s Board as the Company continues to execute on its Grow Brand Love strategy. Mr. Gennette has been appointed to the Board’s Human Capital Management and Compensation Committee and the Finance Committee, bringing deep expertise across merchandising, marketing, digital transformation, and store operations to support Signet’s long-term growth priorities and capital allocation decisions. “Signet’s Board is committed to ongoing refreshment and we are delighted to welcome Jeff as a director,” said Helen McCluskey, Chair of the Board. “Jeff is a highly respected retail leader who brings a deep familiarity with the jewelry category and a proven track record of leading large, complex consumer businesses through transformation. His perspective on building brands, engaging customers across channels, and driving operational excellence will be invaluable as we advance our strategy.” “Jeff’s experience leading one of the largest omnichannel retailers in the U.S. brings powerful insight to Signet,” said Signet CEO J.K. Symancyk. “As we continue to strengthen our brands, enhance our digital and store experiences, and grow share in a dynamic retail environment, Jeff’s guidance, passion for jewelry, and expertise will be a tremendous asset to our team and our Board.” The Company also disclosed that Nancy Reardon, who has served as a director since March 2018, has informed the Board that she will not stand for re-election at the Annual General Meeting. The Board has been expanded to 12 directors following Mr. Gennette’s appointment and will be reduced to 11 directors immediately following the departure of Ms. Reardon at the conclusion of the Annual General Meeting on June 26, 2026. “We are deeply grateful to Nancy for her dedicated service and contributions over the past several years, including as Chair of the Board’s Human Capital Management and Compensation Committee,” said McCluskey. “During a period of significant transformation for Signet, Nancy provided steady leadership, sound judgment, and thoughtful counsel, guiding critical decisions that contributed to Signet’s performance and culture.” About Jeffrey Gennette Jeffrey Gennette brings more than 40 years of experience in the retail industry, most recently serving as Chief Executive Officer of Macy’s, Inc. from March 2017 to February 2024 and as Macy’s Chairman from February 2018 to April 2024. Prior to these roles, he held positions of increasing responsibility at Macy’s over the course of his career, including President, Chief Merchandising Officer, and various leadership roles across merchandising and store operations. Mr. Gennette began his retail career in 1983 as an executive trainee at Macy’s West in San Francisco. He currently serves on the Board of Advisors for Edward Jones Investments and on the Board of Directors for the National AIDS Memorial. About Signet: As a Purpose-driven and sustainability-focused company, Signet is a participant in the United Nations Global Compact and adheres to its principles-based approach to responsible business. Signet operates approximately 2,600 stores primarily under the name brands of Kay Jewelers, Zales, Jared, Banter by Piercing Pagoda, Diamonds Direct, Blue Nile, Peoples Jewellers, H. Samuel, and Ernest Jones. Further information on Signet is available at www.signetjewelers.com. View source version on businesswire.com: https://www.businesswire.com/news/home/20260507990829/en/ Investors:
Rob Ballew
Senior Vice President, Investor Relations & Capital Markets
robert.ballew@signetjewelers.com or
IR@signetjewelers.com Media:
Katie Spencer
Vice President of Media Relations & Executive Communications
Katie.spencer@signetjewelers.com Original: Signet Jewelers Appoints Jeffrey Gennette to Its Board

Signet Jewelers stock dips as FY27 guidance falls short of estimatesMarch 19, 2026 10:28 AM
IH Market News
Signet Jewelers Limited (NYSE:SIG) reported fourth-quarter results that topped analyst expectations, but the company’s shares slipped about 2.25% after its fiscal 2027 outlook came in below Wall Street forecasts.The jewelry retailer posted adjusted earnings per share of $6.25 for the quarter ended January 31, 2026, exceeding the analyst consensus estimate of $5.93 by $0.32. Revenue totaled $2.35 billion, slightly ahead of the $2.34 billion forecast, although it declined 0.3% year over year.Same-store sales decreased 0.7% during the quarter. For the full fiscal year 2026, revenue rose 1.6% to $6.81 billion, supported by a 1.3% increase in comparable store sales.Investor sentiment weakened after the company issued fiscal 2027 guidance that fell short of expectations. Signet projected adjusted earnings per share between $8.80 and $10.74, with a midpoint of $9.77 that is below the analyst consensus estimate of $10.59. The company also forecast revenue ranging from $6.6 billion to $6.9 billion, with the midpoint of $6.75 billion sitting near the low end of the $6.9 billion consensus estimate.“FY26 delivered over a point of comp growth driven by heightened focus on our three largest brands – Kay, Zales, and Jared,” said J.K. Symancyk, Chief Executive Officer. “As we continue to advance our Grow Brand Love strategy into its second year, we expect to further strengthen our foundation for sustainable long-term growth and drive increased shareholder value.”The fiscal 2027 outlook assumes a reduction in net revenue of $60 million to $80 million related to the transition of the James Allen brand, with only minimal impact expected on adjusted operating income. As part of the shift, Signet plans to reposition James Allen as a proprietary product collection while moving its merchandise to the Blue Nile website, with jamesallen.com expected to be phased out during the second quarter.Adjusted operating income for the fourth quarter came in at $327.3 million, down from $355.5 million in the same period a year earlier. Gross margin declined by 60 basis points to 42.0% of sales, reflecting slightly lower merchandise margins and the impact of fixed cost deleveraging.Signet’s board also approved a nearly 10% increase in its quarterly dividend to $0.35 per share, marking the fifth consecutive year of dividend growth.Signet Jewelers stock price

Original: Signet Jewelers stock dips as FY27 guidance falls short of estimates

Signet Jewelers Reports Fourth Quarter and Full Year Fiscal 2026 ResultsMarch 19, 2026 6:50 AM
Business Wire
Introduces Fiscal 2027 Guidance


Increases Dividend to $0.35 per share


Signet Jewelers Limited ("Signet" or the "Company") (NYSE:SIG) today announced its results for the 13 and 52 weeks ended January 31, 2026 ("fourth quarter Fiscal 2026" and "full year Fiscal 2026", respectively).


"FY26 delivered over a point of comp growth driven by heightened focus on our three largest brands – Kay, Zales, and Jared. Building on that momentum, FY27 will focus on accelerating core performance through sharper brand differentiation, broader customer reach, and a more seamless in-store and digital experience. As we continue to advance our Grow Brand Love strategy into its second year, we expect to further strengthen our foundation for sustainable long-term growth and drive increased shareholder value," said J.K. Symancyk, Chief Executive Officer.


"We delivered FY26 Adjusted Operating Income growth, led by gross margin expansion, at the high end of our guidance. We finished the year with $525 million of free cash flow, with consistent inventory levels despite record commodity costs and a dynamic tariff environment. Looking to FY27, our guidance range includes topline growth and margin expansion at the high end, as well as current commodity, tariff, and consumer dynamics, and the transition of James Allen within our portfolio," said Joan Hilson, Chief Operating and Financial Officer.


Fourth Quarter Fiscal 2026 Highlights:



Sales of $2.35 billion on a same store sales ("SSS")(1) decrease of 0.7% to Q4 of FY25.



Merchandise average unit retail ("AUR")(2) was up approximately 5% to Q4 of FY25, with growth in both Bridal and Fashion.



Operating income of $318.3 million, up from $152.6 million in Q4 of FY25.



Adjusted operating income(3) of $327.3 million, down from $355.5 million in Q4 of FY25.



Diluted earnings per share ("EPS") of $6.08, compared to $2.30 in Q4 of FY25.



Adjusted diluted EPS(3) of $6.25, compared to $6.62 in Q4 of FY25.



Full Year Fiscal 2026 Highlights:



Sales of $6.81 billion on a SSS(1) increase of 1.3% to FY25.



AUR(2) was up approximately 7% to FY25, with growth in both Bridal and Fashion.



Operating income of $393.1 million, up from $110.7 million in FY25.



Adjusted operating income(3) of $515.0 million, up from $498.1 million in FY25.



Diluted EPS of $7.08, compared to a diluted loss per share of $0.81 in FY25.



Adjusted diluted EPS(3) of $9.60, compared to $8.94 in FY25.





(1)





 

Same store sales include physical stores and e-commerce sales.








(2)





 

AUR reflects merchandise sales on a constant currency basis, net of discounts and promotions, divided by units.








(3)





 

See the Non-GAAP Financial Measures section below.









Fourth Quarter and Full Year Fiscal 2026 Results:















 



(in millions, except per share amounts)






 






Q4 Fiscal 2026






 






Q4 Fiscal 2025






 






Fiscal 2026






 






Fiscal 2025








Sales






 






$






2,345.1






 






 






$






2,352.6






 






 






$






6,813.6






 






 






$






6,703.8






 








SSS % change (1)






 






 






(0.7






)%






 






 






(1.1






)%






 






 






1.3






%






 






 






(3.4






)%








GAAP






 






 






 






 






 






 






 






 








Operating income






 






$






318.3






 






 






$






152.6






 






 






$






393.1






 






 






$






110.7






 








Operating margin






 






 






13.6






%






 






 






6.5






%






 






 






5.8






%






 






 






1.7






%








Diluted EPS (loss per share)






 






$






6.08






 






 






$






2.30






 






 






$






7.08






 






 






$






(0.81






)








Adjusted (2)






 






 






 






 






 






 






 






 








Adjusted operating income






 






$






327.3






 






 






$






355.5






 






 






$






515.0






 






 






$






498.1






 








Adjusted operating margin






 






 






14.0






%






 






 






15.1






%






 






 






7.6






%






 






 






7.4






%








Adjusted diluted EPS






 






$






6.25






 






 






$






6.62






 






 






$






9.60






 






 






$






8.94






 









(1)





 

Same store sales include physical stores and e-commerce sales.








(2)





 

See Non-GAAP Financial Measures below.







Fourth Quarter Fiscal 2026 Results:


Gross margin was $985.1 million, or 42.0% of sales, down approximately $17 million to Q4 of FY25. The gross margin rate decline of 60 basis points reflects a modest merchandise margin decline and deleverage of fixed costs.


SG&A was $656.6 million, or 28.0% of sales, up from $639.2 million, or 27.2% of sales, in Q4 of FY25. The change in SG&A as a percentage of sales was driven by a reset of short-term incentive compensation.


Operating income was $318.3 million, or 13.6% of sales, compared to $152.6 million, or 6.5% of sales, in Q4 of FY25. Operating income includes $6.6 million of non-cash impairment charges primarily related to the Diamonds Direct trade name. Adjusted operating income was $327.3 million, or 14.0% of sales, compared to $355.5 million, or 15.1% of sales, in Q4 of FY25.


The current quarter income tax expense was $72.2 million compared to $53.5 million in Q4 of FY25. Adjusted income tax expense was $74.5 million compared to $67.0 million in Q4 of FY25.


Diluted EPS was $6.08, up from $2.30 in Q4 of FY25. Diluted EPS in the current quarter includes $0.17 of asset impairment charges. Adjusted diluted EPS was $6.25, compared to $6.62 in Q4 of FY25, reflecting lower adjusted operating income and a higher effective tax rate, partially offset by lower diluted share count.


Full Year Fiscal 2026 Results:


Sales of $6.8 billion, up $109.8 million or 1.6% to last year. SSS grew 1.3% versus last year. Gross margin was $2.7 billion, up from $2.6 billion in FY25 driven by gross merchandise margin expansion and leverage of fixed costs. SG&A was $2.2 billion, up from $2.1 billion in FY25 driven primarily by a reset of incentive compensation.


Operating income was $393.1 million, or 5.8% of sales, compared to $110.7 million, or 1.7% of sales in FY25. Operating income was impacted by non-cash impairment charges of $91.3 million largely related to the Digital brands. Adjusted operating income was $515.0 million, or 7.6% of sales, compared to $498.1 million, or 7.4% of sales in FY25.


Diluted EPS was $7.08, up from a diluted loss per share of $0.81 last year. Diluted EPS in the current year includes $2.19 of asset impairment charges. Adjusted diluted EPS was $9.60, up from $8.94 last year. Adjusted diluted EPS reflects higher adjusted operating income and lower diluted share count which was partially offset by a higher effective tax rate.


Balance Sheet and Statement of Cash Flows:


Cash flow from operating activities for Fiscal 2026 was $678.8 million, compared to $590.9 million in the prior year. Capital expenditures for Fiscal 2026 were $153.5 million. Cash and cash equivalents were $874.8 million as of January 31, 2026, compared to $604.0 million as of prior year end, with total liquidity of approximately $2.0 billion. Inventory ended the year at $1.94 billion, approximately flat to last year.


Capital Returns to Shareholders:


Signet's Board of Directors has declared a quarterly cash dividend on common shares of $0.35 per share for the first quarter of Fiscal 2027, payable May 22, 2026, to shareholders of record on April 24, 2026, with an ex-dividend date of April 24, 2026. The $0.35 per share common dividend represents a nearly 10% increase and is the 5th consecutive year of an increase in the common dividend.


During Fiscal 2026, Signet repurchased approximately 3.1 million common shares for $205.2 million at an average price of approximately $66 per share, including $27.0 million during the fourth quarter. The Company had approximately $518 million in share repurchase authorization remaining at the end of the fiscal year.


James Allen Transition:


The Company will leverage the James Allen brand as a proprietary collection and transition complementary products and styles to the Blue Nile website. Over the second quarter, Signet will sunset the jamesallen.com site.




First Quarter and Full Year Fiscal 2027 Guidance Range:





 



 






First Quarter








Total sales






$1.53 to $1.57 billion








Same store sales






0.5% to 2.5%








Adjusted operating income (1)






$66 to $77 million








Adjusted EBITDA (1)






$112 to $123 million









(1) See description of non-GAAP financial measures below.




 


Forecasted adjusted operating income and adjusted EBITDA exclude potential non-recurring charges, such as restructuring and reorganizational charges or asset impairments. However, given the potential impact of non-recurring charges to the GAAP operating income, we cannot provide forecasted GAAP operating income or the probable significance of such items without unreasonable efforts. As such, we do not present a reconciliation of forecasted adjusted operating income or adjusted EBITDA to corresponding forecasted GAAP amounts.









 






Fiscal 2027








Total sales






$6.6 to $6.9 billion








Same store sales






(1.25%) to 2.5%








Adjusted operating income (1)






$470 to $560 million








Adjusted EBITDA (1)






$655 to $745 million








Adjusted diluted EPS (1)






$8.80 to $10.74









(1) See description of non-GAAP financial measures below.







 



Forecasted adjusted operating income, adjusted EBITDA and adjusted diluted EPS exclude potential non-recurring charges, such as restructuring and reorganizational charges or asset impairments. However, given the potential impact of non-recurring charges to the GAAP operating income and diluted EPS, we cannot provide forecasted GAAP operating income or diluted EPS or the probable significance of such items without unreasonable efforts. As such, we do not present a reconciliation of forecasted adjusted operating income, adjusted EBITDA and adjusted diluted EPS to corresponding forecasted GAAP amounts.







The Company's Fiscal 2027 guidance range is based on the following assumptions:



Assumes $60 to $80 million in net revenue lost in conjunction with the transition of the James Allen brand with a minimal impact on adjusted operating income.



A dynamic tariff, commodity, and consumer environment.



Planned capital expenditures of approximately $150 to $180 million.



Net square footage decrease of low single digit for the year.



Annual tax rate of 23% to 25%, excluding any potential discrete items.



Adjusted diluted EPS for Fiscal 2027 excludes any potential further share repurchases subsequent to today.



Our Purpose and Sustainability:


On March 18, Signet was named as one of the 2026 World’s Most Ethical Companies® by Ethisphere, a global leader in defining and advancing the standards of ethical business practices. This is the second year that Signet has been featured on the list. Signet is one of only four honorees in the retail category. This recognition honors organizations that lead with integrity, prioritize ethical business practices, and demonstrate a commitment to doing what’s right. At Signet, we believe that operating ethically is fundamental to building trust, strengthening our brands, and creating long-term value for all our stakeholders. As the only specialty jeweler on this year’s list, we are proud to be recognized for our dedication to ethical business practices that positively impact our customers, team members, the communities in which we operate, and our broader stakeholders.


Conference Call:

A conference call is scheduled for March 19, 2026 at 8:00 a.m. ET and a simultaneous audio webcast is available at www.signetjewelers.com.

The call details are:

Toll Free – North America +1 800 549 8228

International All Other Locations: (Toll - Local - New York) - +1 646 564 2877

Conference ID 21035

Registration for the listen-only webcast is available at the following link:

https://events.q4inc.com/attendee/340662140

A replay and transcript of the call will be posted on Signet's website as soon as they are available and will be accessible for one year.


About Signet and Safe Harbor Statement:


As a Purpose-driven and sustainability-focused company, Signet is a participant in the United Nations Global Compact and adheres to its principles-based approach to responsible business. Signet operates approximately 2,600 stores primarily under the name brands of Kay Jewelers, Zales, Jared, Banter by Piercing Pagoda, Diamonds Direct, Blue Nile, James Allen, Rocksbox, Peoples Jewellers, H. Samuel, and Ernest Jones. Further information on Signet is available at www.signetjewelers.com. See also www.kay.com, www.zales.com, www.jared.com, www.banter.com, www.diamondsdirect.com, www.bluenile.com, www.jamesallen.com, www.rocksbox.com, www.peoplesjewellers.com, www.hsamuel.co.uk, www.ernestjones.co.uk.


This release contains statements which are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based upon management's beliefs and expectations as well as on assumptions made by and data currently available to management, appear in a number of places throughout this document and include statements regarding, among other things, results of operations, financial condition, liquidity, prospects, growth, strategies and the industry in which we operate. The use of the words "guidance," "expects," "continue," "intends," "anticipates," "enhance," "estimates," "predicts," "believes," "should," "potential," "may," "preliminary," "forecast," "objective," "opportunity," "plan," "progress," "strategy," "target," or "will" and other similar expressions are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to a number of risks and uncertainties which could cause the actual results to not be realized, including, but not limited to: executing or optimizing major business or strategic initiatives, such as expansion of the services business or realizing the benefits of our restructuring plans or transformation strategies, including those that the Company may develop in the future; attracting and retaining key executive talent during periods of leadership transition, such as the recent changes in our senior leadership from the reorganization under our Grow Brand Love strategy; the failure to adequately mitigate the impact of existing tariffs and/or the imposition of additional duties, tariffs, taxes and other charges or other barriers to trade or impacts from trade relations; impacts of US government shutdowns, including recent disruptions to travel and related consumer activity resulting from interruptions to agencies such as the Transportation Security Administration and the Department of Homeland Security, on consumer spending; difficulty or delay in executing or integrating an acquisition; the impact of the conflicts in the Middle East on financial markets and consumer spending, such as from the impact of higher oil and gas prices, as well as on our operations of our quality control and technology centers in Israel; the negative impacts that public health crisis, disease outbreak, epidemic or pandemic has had, and could have in the future, on our business, financial condition, profitability and cash flows; risks relating to shifts in consumer spending away from the jewelry category or away from the cultural customs of expressing commitments through engagements and weddings; trends toward more experiential purchases such as travel; general economic or market conditions, including impacts of inflation or other pricing environment factors on our merchandise costs or other operating costs; a prolonged slowdown in the growth of the jewelry market or a recession in the overall economy; financial market risks; a decline in consumer discretionary spending or deterioration in consumer financial position; disruptions in our supply chain; our ability to attract and retain labor; changes to regulations relating to customer credit; disruption in the availability of credit for customers and customer inability to meet credit payment obligations, which has occurred and may continue to deteriorate; our ability to achieve the benefits related to the outsourcing of the credit portfolio, including due to technology disruptions and/or disruptions arising from changes to or termination of the relevant outsourcing agreements, as well as a potential increase in credit costs due to the current interest rate environment; deterioration in the performance of individual businesses or of the Company’s market value relative to its book value, resulting in further impairments of long-lived assets or intangible assets or other adverse financial consequences; the volatility of our stock price; the impact of financial covenants, credit ratings or interest volatility on our ability to borrow; our ability to maintain adequate levels of liquidity for our cash needs, including debt obligations, payment of dividends, planned share repurchases (including execution of accelerated share repurchases and the payment of related excise taxes) and capital expenditures as well as the ability of our customers, suppliers and lenders to access sources of liquidity to provide for their own cash needs; potential regulatory changes; future legislative and regulatory requirements in the US and globally relating to climate change, including any new climate related disclosure or compliance requirements, such as those issued in the state of California; exchange rate fluctuations; the cost, availability of and demand for diamonds, gold and other precious metals, including any impact on the global market supply of diamonds due to the ongoing conflicts in the Middle East, the potential sale or divestiture of the De Beers Diamond Company and its natural diamond mining operations by parent company Anglo-American plc, and the ongoing Russia-Ukraine conflict or related sanctions; stakeholder reactions to disclosure regarding the source and use of certain minerals; scrutiny or detention of goods produced in certain territories resulting from trade restrictions; seasonality of our business; the merchandising, pricing and inventory policies followed by us and our ability to manage inventory levels; our relationships with suppliers including the ability to continue to utilize extended payment terms and the ability to obtain merchandise that customers wish to purchase; the level of competition and promotional activity in the jewelry sector; our ability to optimize our multi-year strategy to gain market share, expand and improve existing services, innovate and achieve sustainable, long-term growth; the maintenance and continued innovation of our OmniChannel retailing and ability to increase digital sales, as well as management of digital marketing costs; failure to anticipate and keep pace with changing fashion trends; changes in the costs, retail prices, supply and consumer acceptance of, and demand for gem quality lab-grown diamonds and adequate identification of the use of substitute products in our jewelry; ability to execute successful marketing programs and manage social media; the ability to optimize our real estate footprint, including operating in attractive trade areas and effectively monitoring changes in consumer traffic in mall locations; the performance of and ability to recruit, train, motivate and retain qualified team members - particularly store associates in regions experiencing low unemployment rates; management of social, ethical and environmental risks; ability to deliver on our corporate sustainability goals or our environmental, social and governance goals; the reputation of Signet and its brands; inadequacy in and disruptions to internal controls and systems, including related to the migration to new information technology systems which impact financial reporting; risks associated with the Company’s and its third-party service providers’ use of artificial intelligence; security breaches and other disruptions to our or our third-party providers’ information technology infrastructure and databases; an adverse development in legal or regulatory proceedings or tax matters, including any new claims or litigation brought by employees, suppliers, consumers or shareholders, regulatory initiatives or investigations, assessments or penalties levied by tax authorities, and ongoing compliance with regulations and any consent orders or other legal or regulatory decisions; failure to comply with labor regulations; collective bargaining activity; changes in corporate taxation rates, laws, rules or practices in the US and other jurisdictions in which our subsidiaries are incorporated, including developments related to the tax treatment of companies engaged in internet commerce or deductions associated with payments to foreign related parties that are subject to a low effective tax rate; risks related to international laws and Signet being domiciled in Bermuda; risks relating to the outcome of pending litigation; our ability to protect our intellectual property or assets including cash which could be affected by failure of a financial institution or conditions affecting the banking system and financial markets as a whole; changes in assumptions used in making accounting estimates relating to items such as extended service plans or asset impairments; or the impact of weather-related incidents, natural disasters, organized crime or theft, increased security costs, strikes, protests, riots or terrorism, or acts of war (including the ongoing Russia-Ukraine and conflicts in the Middle East).


For a discussion of these and other risks and uncertainties which could cause actual results to differ materially from those expressed in any forward-looking statement, see the “Risk Factors” and “Forward-Looking Statements” sections of Signet’s Fiscal 2025 Annual Report on Form 10-K filed with the SEC on March 19, 2025, and quarterly reports on Form 10-Q and the "Safe Harbor Statements" in current reports on Form 8-K filed with the SEC. Signet undertakes no obligation to update or revise any forward-looking statements to reflect subsequent events or circumstances, except as required by law.




Condensed Consolidated Statements of Operations (Unaudited)














 



(in millions, except per share amounts)






13 weeks ended January 31, 2026






 






13 weeks ended February 1, 2025






 






Fiscal 2026






 






Fiscal 2025








Sales






$






2,345.1






 






 






$






2,352.6






 






 






$






6,813.6






 






 






$






6,703.8






 








Cost of sales






 






(1,360.0






)






 






 






(1,351.0






)






 






 






(4,119.0






)






 






 






(4,078.2






)








Gross margin






 






985.1






 






 






 






1,001.6






 






 






 






2,694.6






 






 






 






2,625.6






 








Selling, general and administrative expenses






 






(656.6






)






 






 






(639.2






)






 






 






(2,173.2






)






 






 






(2,122.6






)








Asset impairments, net






 






(6.7






)






 






 






(202.7






)






 






 






(91.6






)






 






 






(372.0






)








Other operating expense, net






 






(3.5






)






 






 






(7.1






)






 






 






(36.7






)






 






 






(20.3






)








Operating income






 






318.3






 






 






 






152.6






 






 






 






393.1






 






 






 






110.7






 








Interest income (expense), net






 






3.4






 






 






 






(0.2






)






 






 






4.0






 






 






 






9.8






 








Other non-operating income, net






 






0.5






 






 






 






1.7






 






 






 






1.0






 






 






 






3.7






 








Income before income taxes






 






322.2






 






 






 






154.1






 






 






 






398.1






 






 






 






124.2






 








Income taxes






 






(72.2






)






 






 






(53.5






)






 






 






(103.7






)






 






 






(63.0






)








Net income






 






250.0






 






 






 






100.6






 






 






 






294.4






 






 






 






61.2






 








Dividends on redeemable convertible preferred shares






 






—






 






 






 






—






 






 






 






—






 






 






 






(96.8






)








Net income (loss) attributable to common shareholders






$






250.0






 






 






$






100.6






 






 






$






294.4






 






 






$






(35.6






)








 






 






 






 






 






 






 






 








Earnings (loss) per common share:






 






 






 






 






 






 






 








Basic






$






6.16






 






 






$






2.32






 






 






$






7.13






 






 






$






(0.81






)








Diluted






$






6.08






 






 






$






2.30






 






 






$






7.08






 






 






$






(0.81






)








Weighted average common shares outstanding:






 






 






 






 






 






 






 








Basic






 






40.6






 






 






 






43.4






 






 






 






41.3






 






 






 






44.1






 








Diluted






 






41.1






 






 






 






43.8






 






 






 






41.6






 






 






 






44.1






 








 






 






 






 






 






 






 






 








Dividends declared per common share






$






0.32






 






 






$






0.29






 






 






$






1.28






 






 






$






1.16






 









Condensed Consolidated Balance Sheets (Unaudited)










 



(in millions)






January 31,

2026






 






February 1,

2025








Assets






 






 






 








Current assets:






 






 






 








Cash and cash equivalents






$






874.8






 






 






$






604.0






 








Inventories






 






1,940.1






 






 






 






1,937.3






 








Income taxes






 






18.7






 






 






 






14.3






 








Other current assets






 






189.9






 






 






 






156.6






 








Total current assets






 






3,023.5






 






 






 






2,712.2






 








Non-current assets:






 






 






 








Property, plant and equipment, net






 






498.8






 






 






 






506.5






 








Operating lease right-of-use assets






 






1,146.6






 






 






 






1,102.4






 








Goodwill






 






428.4






 






 






 






482.0






 








Intangible assets, net






 






286.4






 






 






 






307.2






 








Other assets






 






291.0






 






 






 






314.8






 








Deferred tax assets






 






277.4






 






 






 






301.5






 








Total assets






$






5,952.1






 






 






$






5,726.6






 








Liabilities and Shareholders’ equity






 






 






 








Current liabilities:






 






 






 








Accounts payable






$






772.1






 






 






$






767.0






 








Accrued expenses and other current liabilities






 






387.3






 






 






 






366.8






 








Deferred revenue






 






377.1






 






 






 






362.5






 








Operating lease liabilities






 






286.9






 






 






 






279.9






 








Income taxes






 






65.4






 






 






 






55.3






 








Total current liabilities






 






1,888.8






 






 






 






1,831.5






 








Non-current liabilities:






 






 






 








Operating lease liabilities






 






930.4






 






 






 






900.0






 








Other liabilities






 






82.8






 






 






 






85.1






 








Deferred revenue






 






908.6






 






 






 






885.1






 








Deferred tax liabilities






 






175.3






 






 






 






173.1






 








Total liabilities






 






3,985.9






 






 






 






3,874.8






 








Commitments and contingencies






 






 






 








Shareholders’ equity:






 






 






 








Common shares






 






12.6






 






 






 






12.6






 








Additional paid-in capital






 






120.4






 






 






 






120.1






 








Other reserves






 






0.4






 






 






 






0.4






 








Treasury shares at cost






 






(1,934.9






)






 






 






(1,749.3






)








Retained earnings






 






3,986.9






 






 






 






3,745.5






 








Accumulated other comprehensive loss






 






(219.2






)






 






 






(277.5






)








Total shareholders’ equity






 






1,966.2






 






 






 






1,851.8






 








Total liabilities and shareholders’ equity






$






5,952.1






 






 






$






5,726.6






 









Condensed Consolidated Statements of Cash Flows (Unaudited)










 



(in millions)






Fiscal 2026






 






Fiscal 2025








Operating activities






 






 






 








Net income






$






294.4






 






 






$






61.2






 








Adjustments to reconcile net income to net cash provided by operating activities:






 






 






 








Depreciation and amortization






 






147.5






 






 






 






148.2






 








Amortization of unfavorable contracts






 






(1.8






)






 






 






(1.8






)








Share-based compensation






 






26.9






 






 






 






22.2






 








Deferred taxation






 






20.6






 






 






 






(30.7






)








Asset impairments, net






 






91.6






 






 






 






372.0






 








Loss on divestiture, net






 






4.1






 






 






 






2.6






 








Other non-cash movements






 






3.0






 






 






 






2.1






 








Changes in operating assets and liabilities, net of acquisitions and divestitures:






 






 






 








Inventories






 






23.2






 






 






 






1.0






 








Other assets






 






16.9






 






 






 






49.6






 








Accounts payable






 






5.4






 






 






 






28.7






 








Accrued expenses and other liabilities






 






14.7






 






 






 






(31.2






)








Change in operating lease assets and liabilities






 






(9.0






)






 






 






(18.8






)








Deferred revenue






 






35.9






 






 






 






5.1






 








Income tax receivable and payable






 






5.4






 






 






 






(19.3






)








Net cash provided by operating activities






 






678.8






 






 






 






590.9






 








Investing activities






 






 






 








Capital expenditures






 






(153.5






)






 






 






(153.0






)








Divestitures






 






(2.0






)






 






 






—






 








Other investing activities, net






 






(2.0






)






 






 






(6.1






)








Net cash used in investing activities






 






(157.5






)






 






 






(159.1






)








Financing activities






 






 






 








Dividends paid on common shares






 






(51.9






)






 






 






(48.6






)








Dividends paid on redeemable convertible preferred shares






 






—






 






 






 






(18.5






)








Repurchase of common shares






 






(205.2






)






 






 






(138.0






)








Repurchase of redeemable convertible preferred shares






 






—






 






 






 






(813.8






)








Repayment of Senior Notes






 






—






 






 






 






(147.8






)








Proceeds from asset-based credit facility






 






—






 






 






 






253.0






 








Repayments of asset-based credit facility






 






—






 






 






 






(253.0






)








Payment of debt issuance costs






 






—






 






 






 






(4.3






)








Other financing activities, net






 






(7.7






)






 






 






(28.5






)








Net cash used in financing activities






 






(264.8






)






 






 






(1,199.5






)








Cash and cash equivalents at beginning of period






 






604.0






 






 






 






1,378.7






 








Increase (decrease) in cash and cash equivalents






 






256.5






 






 






 






(767.7






)








Effect of exchange rate changes on cash and cash equivalents






 






14.3






 






 






 






(7.0






)








Cash and cash equivalents at end of period






$






874.8






 






 






$






604.0






 









Reportable Segment Information - Fourth Quarter and Full Year Fiscal 2026




 




Sales:










 



 






Change from previous year






 






 








Fourth Quarter of Fiscal 2026






Same




store




sales






 






Non-same




store sales,




net






 






Total sales at




constant




exchange rate (1)






 






Exchange




translation




impact






 






Total sales




as reported






 






Total




reported sales




(in millions)








North America segment






(0.9) %






 






(0.6) %






 






(1.5) %






 






— %






 






(1.5) %






 






$ 2,187.0








International segment






2.1 %






 






11.1 %






 






13.2 %






 






6.8 %






 






20.0 %






 






$ 151.5








Other segment (2)






nm






 






nm






 






nm






 






nm






 






nm






 






$ 6.6








Signet






(0.7) %






 






— %






 






(0.7) %






 






0.4 %






 






(0.3) %






 






$ 2,345.1









 






Change from previous year






 






 








Fiscal 2026






Same




store




sales






 






Non-same




store sales,




net






 






Total sales at




constant




exchange rate (1)






 






Exchange




translation




impact






 






Total sales




as reported






 






Total




reported sales




(in millions)








North America segment






1.2 %






 






(0.2) %






 






1.0 %






 






— %






 






1.0 %






 






$ 6,363.6








International segment






2.6 %






 






2.7 %






 






5.3 %






 






4.7 %






 






10.0 %






 






$ 410.4








Other segment (2)






nm






 






nm






 






nm






 






nm






 






nm






 






$ 39.6








Signet






1.3 %






 






0.1 %






 






1.4 %






 






0.2 %






 






1.6 %






 






$ 6,813.6









(1) See Non-GAAP Financial Measures section below.








(2) Includes sales from Signet’s diamond sourcing operation.








nm Not meaningful.









Operating income and adjusted operating income:











 



 






 






Fourth quarter Fiscal 2026






 






Fourth quarter Fiscal 2025








Operating income (loss) in millions






 






$






 






% of segment sales






 






$






 






% of segment sales








North America segment






 






$






302.5






 






 






13.8 %






 






$






143.6






 






 






6.5 %








International segment






 






 






31.9






 






 






21.1 %






 






 






21.9






 






 






17.4 %








Other segment






 






 






(1.5






)






 






nm






 






 






(3.5






)






 






nm








Corporate and unallocated expenses






 






 






(14.6






)






 






nm






 






 






(9.4






)






 






nm








Total operating income






 






$






318.3






 






 






13.6 %






 






$






152.6






 






 






6.5 %









 






 






Fourth quarter Fiscal 2026






 






Fourth quarter Fiscal 2025








Adjusted operating income (loss) in millions (1)






 






$






 






% of segment sales






 






$






 






% of segment sales








North America segment






 






$






310.5






 






 






14.2 %






 






$






346.0






 






 






15.6 %








International segment






 






 






34.0






 






 






22.4 %






 






 






21.8






 






 






17.3 %








Other segment






 






 






(1.5






)






 






nm






 






 






(3.5






)






 






nm








Corporate and unallocated expenses






 






 






(15.7






)






 






nm






 






 






(8.8






)






 






nm








Total adjusted operating income






 






$






327.3






 






 






14.0 %






 






$






355.5






 






 






15.1 %









(1) See Non-GAAP Financial Measures below.








nm Not meaningful.









Real Estate Portfolio:




 




Signet has a diversified real estate portfolio. On January 31, 2026, Signet operated 2,582 stores totaling 4.0 million square feet of selling space. Compared to year-end Fiscal 2025, store count decreased by 60 and square feet of selling space decreased 1.1%.














 



Store count by segment






February 1, 2025






 






Openings






 






Closures






 






January 31, 2026








North America segment






2,379






 






14






 






(64)






 






2,329








International segment






263






 






—






 






(10)






 






253








Signet






2,642






 






14






 






(74)






 






2,582







Non-GAAP Financial Measures


In addition to reporting the Company's financial results in accordance with generally accepted accounting principles ("GAAP"), the Company reports certain financial measures on a non-GAAP basis. The Company believes that non-GAAP financial measures, when reviewed in conjunction with GAAP financial measures, can provide more information to assist investors in evaluating historical trends and current period performance and liquidity. For these reasons, internal management reporting also includes these non-GAAP measures. These non-GAAP financial measures should be considered in addition to, and not superior to or as a substitute for, the GAAP financial measures presented in this earnings release and the Company’s consolidated financial statements and other publicly filed reports. In addition, our non-GAAP financial measures may not be the same as or comparable to similar non-GAAP measures presented by other companies.


The Company reports the following non-GAAP financial measures: sales changes on a constant currency basis, free cash flow, adjusted operating income, adjusted operating margin, adjusted diluted earnings per share ("EPS") and adjusted earnings before interest, income taxes, depreciation and amortization (“adjusted EBITDA”).


The Company provides the year-over-year change in total sales excluding the impact of foreign currency fluctuations to provide transparency to performance and enhance investors’ understanding of underlying business trends. The effect from foreign currency, calculated on a constant currency basis, is determined by applying current year average exchange rates to prior year sales in local currency.


Free cash flow is a non-GAAP measure defined as the net cash provided by operating activities less capital expenditures. Management considers this metric to be helpful in understanding how the business is generating cash from its operating and investing activities that can be used to meet the financing needs of the business. Free cash flow is an indicator frequently used by management to evaluate its overall liquidity needs and determine appropriate capital allocation strategies. Free cash flow does not represent the residual cash flow available for discretionary purposes.


Adjusted operating income is a non-GAAP measure defined as operating income excluding the impact of certain items which management believes are not necessarily reflective of normal operational performance during a period. Management finds the information useful when analyzing operating results to appropriately evaluate the performance of the business without the impact of these certain items. Management believes the consideration of measures that exclude such items can assist in the comparison of operational performance in different periods which may or may not include such items. Management also utilizes adjusted operating margin, defined as adjusted operating income as a percentage of total sales, to further evaluate the effectiveness and efficiency of the Company’s flexible operating model.


Adjusted diluted EPS is a non-GAAP measure defined as diluted EPS excluding the impact of certain items which management believes are not necessarily reflective of normal operational performance during a period. Management finds the information useful when analyzing financial results in order to appropriately evaluate the performance of the business without the impact of these certain items. In particular, management believes the consideration of measures that exclude such items can assist in the comparison of performance in different periods which may or may not include such items. The Company estimates the tax effect of all non-GAAP adjustments by applying a statutory tax rate to each item. The income tax items are used to estimate adjusted income tax expense and represent the discrete amount that affected the diluted EPS during the period.


Adjusted EBITDA is a non-GAAP measure, defined as earnings before interest, income taxes, depreciation and amortization, share-based compensation expense, non-operating expense, net and certain non-GAAP accounting adjustments. Adjusted EBITDA is considered an important indicator of operating performance as it excludes the effects of financing and investing activities by eliminating the effects of interest, depreciation and amortization costs and certain accounting adjustments.


The following information provides reconciliations of the most comparable financial measures calculated and presented in accordance with GAAP to presented non-GAAP financial measures.




Free cash flow











 









 



(in millions)






13 weeks ended January 31, 2026






 






13 weeks ended February 1, 2025






 






Fiscal 2026






 






Fiscal 2025








Net cash provided by operating activities






$






736.8






 






 






$






780.7






 






 






$






678.8






 






 






$






590.9






 








Capital expenditures






 






(60.4






)






 






 






(38.6






)






 






 






(153.5






)






 






 






(153.0






)








Free cash flow






$






676.4






 






 






$






742.1






 






 






$






525.3






 






 






$






437.9






 









Adjusted operating income














 



(in millions)






13 weeks ended January 31, 2026






 






13 weeks ended February 1, 2025






 






Fiscal 2026






 






Fiscal 2025








Total operating income






$






318.3






 






$






152.6






 






$






393.1






 






$






110.7








Asset impairments (1)






 






6.6






 






 






200.7






 






 






91.3






 






 






369.2








Restructuring and related charges (2)






 






0.4






 






 






0.5






 






 






26.5






 






 






12.1








Loss on divestitures, net (3)






 






2.0






 






 






0.1






 






 






4.1






 






 






2.6








Leadership transition costs (4)






 






—






 






 






1.6






 






 






—






 






 






2.4








Integration-related expenses (5)






 






—






 






 






—






 






 






—






 






 






1.1








Total adjusted operating income






$






327.3






 






$






355.5






 






$






515.0






 






$






498.1









North America segment adjusted operating income














 



(in millions)






13 weeks ended January 31, 2026






 






13 weeks ended February 1, 2025






 






Fiscal 2026






 






Fiscal 2025








North America segment operating income






$






302.5






 






$






143.6






 






$






452.6






 






$






173.7








Asset impairments (1)






 






6.6






 






 






200.7






 






 






91.3






 






 






368.5








Restructuring and related charges (2)






 






1.4






 






 






0.7






 






 






16.4






 






 






6.9








Leadership transition costs (4)






 






—






 






 






1.0






 






 






—






 






 






1.0








Integration-related expenses (5)






 






—






 






 






—






 






 






—






 






 






1.1








North America segment adjusted operating income






$






310.5






 






$






346.0






 






$






560.3






 






$






551.2









International segment adjusted operating income














 



(in millions)






13 weeks ended January 31, 2026






 






13 weeks ended February 1, 2025






 






Fiscal 2026






 






Fiscal 2025








International segment operating income






$






31.9






 






$






21.9






 






 






$






16.3






 






$






1.0








Loss on divestitures, net (3)






 






2.0






 






 






0.1






 






 






 






4.1






 






 






2.6








Restructuring and related charges (2)






 






0.1






 






 






(0.2






)






 






 






0.5






 






 






5.2








Asset impairments (1)






 






—






 






 






—






 






 






 






—






 






 






0.7








International segment adjusted operating income






$






34.0






 






$






21.8






 






 






$






20.9






 






$






9.5









Corporate and unallocated expenses adjusted operating loss














 



(in millions)






13 weeks ended January 31, 2026






 






13 weeks ended February 1, 2025






 






Fiscal 2026






 






Fiscal 2025








Corporate and unallocated expenses operating loss






$






(14.6






)






 






$






(9.4






)






 






$






(70.0






)






 






$






(53.2






)








Restructuring and related charges (2)






 






(1.1






)






 






 






—






 






 






 






9.6






 






 






 






—






 








Leadership transition costs (4)






 






—






 






 






 






0.6






 






 






 






—






 






 






 






1.4






 








Corporate and unallocated expenses adjusted operating loss






$






(15.7






)






 






$






(8.8






)






 






$






(60.4






)






 






$






(51.8






)









Adjusted income tax provision














 



(in millions)






13 weeks ended January 31, 2026






 






13 weeks ended February 1, 2025






 






Fiscal 2026






 






Fiscal 2025








Income tax expense






$






72.2






 






$






53.5






 






$






103.7






 






$






63.0








Asset impairments (1)






 






1.7






 






 






12.9






 






 






9.5






 






 






24.3








Restructuring and related charges (2)






 






0.1






 






 






0.2






 






 






6.6






 






 






3.2








Loss on divestitures, net (3)






 






0.5






 






 






—






 






 






1.0






 






 






0.6








Leadership transition costs (4)






 






—






 






 






0.4






 






 






—






 






 






0.6








Integration-related expenses (5)






 






—






 






 






—






 






 






—






 






 






0.2








Adjusted income tax expense






$






74.5






 






$






67.0






 






$






120.8






 






$






91.9









Adjusted effective tax rate














 



 






13 weeks ended January 31, 2026






 






13 weeks ended February 1, 2025






 






Fiscal 2026






 






Fiscal 2025








Effective tax rate






22.4 %






 






34.7 %






 






26.0 %






 






50.7 %








Asset impairments (1)






0.1 %






 






(15.2) %






 






(1.5) %






 






(27.5) %








Restructuring and related charges (2)






— %






 






(0.2) %






 






(1.1) %






 






(3.6) %








Loss on divestitures, net (3)






— %






 






— %






 






(0.2) %






 






(0.7) %








Leadership transition costs (4)






— %






 






(0.5) %






 






— %






 






(0.7) %








Integration-related expenses (5)






— %






 






— %






 






— %






 






(0.2) %








Adjusted effective tax rate






22.5 %






 






18.8 %






 






23.2 %






 






18.0 %









Adjusted diluted EPS














 



 






13 weeks ended January 31, 2026






 






13 weeks ended February 1, 2025






 






Fiscal 2026






 






Fiscal 2025








Diluted EPS (loss per share)






$






6.08






 






 






$






2.30






 






 






$






7.08






 






 






$






(0.81






)








Asset impairments (1)






 






0.17






 






 






 






4.58






 






 






 






2.19






 






 






 






8.39






 








Restructuring and related charges (2)






 






0.01






 






 






 






0.01






 






 






 






0.64






 






 






 






0.27






 








Loss on divestitures, net (3)






 






0.05






 






 






 






—






 






 






 






0.10






 






 






 






0.06






 








Leadership transition costs (4)






 






—






 






 






 






0.04






 






 






 






—






 






 






 






0.05






 








Integration-related expenses (5)






 






—






 






 






 






—






 






 






 






—






 






 






 






0.02






 








Tax impact of above items






 






(0.06






)






 






 






(0.31






)






 






 






(0.41






)






 






 






(0.66






)








Deemed dividend on redemption of Preferred Shares (6)






 






—






 






 






 






—






 






 






 






—






 






 






 






1.93






 








Dilution effect (7)






 






—






 






 






 






—






 






 






 






—






 






 






 






(0.31






)








Adjusted diluted EPS






$






6.25






 






 






$






6.62






 






 






$






9.60






 






 






$






8.94






 









Adjusted EBITDA














 



(in millions)






13 weeks ended January 31, 2026






 






13 weeks ended February 1, 2025






 






Fiscal 2026






 






Fiscal 2025








Net income






$






250.0






 






 






$






100.6






 






 






$






294.4






 






 






$






61.2






 








Income taxes






 






72.2






 






 






 






53.5






 






 






 






103.7






 






 






 






63.0






 








Interest (income) expense, net






 






(3.4






)






 






 






0.2






 






 






 






(4.0






)






 






 






(9.8






)








Depreciation and amortization






 






36.6






 






 






 






37.6






 






 






 






147.5






 






 






 






148.2






 








Amortization of unfavorable contracts






 






(0.4






)






 






 






(0.4






)






 






 






(1.8






)






 






 






(1.8






)








Other non-operating income, net






 






(0.5






)






 






 






(1.7






)






 






 






(1.0






)






 






 






(3.7






)








Share-based compensation






 






6.0






 






 






 






1.8






 






 






 






26.9






 






 






 






22.2






 








Other accounting adjustments (8)






 






8.6






 






 






 






202.3






 






 






 






121.5






 






 






 






386.8






 








Adjusted EBITDA






$






369.1






 






 






$






393.9






 






 






$






687.2






 






 






$






666.1






 









Footnotes to Non-GAAP Reconciliation Tables








(1)





 

Fiscal 2026 and Fiscal 2025 asset impairment charges related primarily to goodwill and indefinite-lived intangible assets.








(2)





 

Fiscal 2026 restructuring and related charges were incurred primarily as a result of the Company’s Grow Brand Love strategy initiatives. Fiscal 2025 restructuring and related charges were incurred primarily as a result of the Company’s rationalization of its store footprint and reorganization of certain centralized functions. The 52 weeks ended February 1, 2025 includes $0.6 million recorded to cost of sales.








(3)





 

Includes charges associated with the previously announced divestiture of the UK prestige watch business.








(4)





 

Primarily includes professional fees incurred for the search for the Company’s Chief Executive Officer, as well as severance and related costs incurred as part of other leadership transitions, which were recorded to SG&A.








(5)





 

Includes severance and retention expenses related to the integration of Blue Nile which were recorded to SG&A.








(6)





 

The Company recorded a deemed dividend to net income (loss) attributable to common shareholders of $85.2 million in Fiscal 2025, which represents the excess of the conversion value of the Preferred Shares over their carrying value upon redemption and includes $1.6 million of related expenses.








(7)





 

Adjusted diluted EPS for Fiscal 2025 was calculated using 46.2 million diluted weighted average common shares outstanding. The additional dilutive shares were excluded from the calculation of GAAP diluted EPS as their effect was antidilutive.








(8)





 

Other accounting adjustments are inclusive of those items described within footnotes 1 through 5 above.







 

View source version on businesswire.com: https://www.businesswire.com/news/home/20260319440349/en/
Investors:

Rob Ballew

Senior Vice President, Investor Relations & Capital Markets

robert.ballew@signetjewelers.com or

investorrelations@signetjewelers.com


Media:

Colleen Rooney

Chief Corporate Affairs & Sustainability Officer

+1-330-668-5932

colleen.rooney@signetjewelers.com


Original: Signet Jewelers Reports Fourth Quarter and Full Year Fiscal 2026 Results