Signet Q1 Earnings Beat, Same-Store Sales Up Y/Y, FY26 View Raised

Core Insights - Signet Jewelers Limited (SIG) reported strong first-quarter fiscal 2026 results, with both revenues and earnings exceeding expectations and showing year-over-year growth [1][2][8] - The company raised its fiscal 2026 outlook following these positive results, leading to a 12.5% increase in share price [1][8] Financial Performance - Adjusted earnings per share (EPS) were $1.18, surpassing the Zacks Consensus Estimate of$1.01, and increased 6.3% from $1.11 in the prior year [2] - Total sales reached$1,541.6 million, exceeding the consensus estimate of $1,516 million, and reflecting a 2$598.8 million, up 4.6% from $572.4 million in the previous year, with gross margin increasing by 100 basis points to 38.8$526 million, a 2.1% increase from the prior year, maintaining a flat percentage of sales at 34.1% [4] - Adjusted operating income rose 21.6% to $70.3 million, with an adjusted operating margin increase of 80 basis points to 4.6$1.45 billion, surpassing the consensus estimate of $1.43 billion, with same-store sales up 2.3$80.1 million, exceeding the consensus estimate of $75.9 million, with same-store sales jumping 4.5$264.1 million, with inventories at $2.01 billion and total shareholders' equity at$1.78 billion [10] - The company repurchased approximately 2.1 million common shares for $117.4 million during the quarter, with nearly$600 million remaining under the current share repurchase authorization [11] Guidance - For Q2 fiscal 2026, total sales are expected to range from $1.47 billion to$1.51 billion, with same-store sales projected to decline by 1.5% to increase by 1% [12] - Fiscal 2026 total sales guidance has been updated to $6.57 billion to$6.80 billion, with adjusted EPS expected between $7.70 and$9.38 [14][15]