Signet Jewelers raised full-year adjusted EPS guidance to $10.45–$12.15 from $9.20–$11.00 after comparable sales rose 2.2% in the quarter ended Aug. 1. Tariff refunds boosted margins, but third-quarter same-store sales were forecast between a 1% decline and 2% growth.
Adjusted operating income rose to $107.2 million from $85.4 million a year earlier, while total sales edged down. Gross margin benefited from about $15 million in tariff refunds, $13 million above management’s expectation; Signet’s full-year outlook leans on about $30 million in refunds. GAAP EPS was $1.33, versus adjusted EPS of $2.19, after $0.86 per share in asset impairment charges.
Signet forecast third-quarter adjusted operating income of $31 million to $48 million. The article cites higher gold costs and a $60 million to $80 million revenue hit from the James Allen transition. It also reports short interest at 21.42% of the float and hedge-fund ownership down to 29 funds from 32 in the prior quarter.
