Signet Jewelers Raises Profit Forecast After Strong Bridal And Fashion Jewelry Demand

According to CNBC, Signet Jewelers shares jumped about 20% on Wednesday after the company lifted its annual profit outlook, supported by resilient demand for higher-priced bridal and fashion jewelry. The jeweler said wealthier shoppers continued spending on special occasions such as weddings even as higher gas and food prices pressured household budgets, and it reported second-quarter profit of $2.19 per share, above the $1.74 estimate compiled by LSEG. Signet said tariff refunds totaled $15 million in the quarter, exceeding its expectations by $13 million, and CEO J.K. Symancyk said the company delivered high-single-digit unit growth at higher price points. The company now expects fiscal 2027 adjusted earnings per share of $10.45 to $12.15, up from a prior view of $9.20 to $11, narrowed its annual same-store sales growth forecast to flat to up 2.5% from a previous range of a 0.75% decline to 2.5% growth, and said it plans to launch a $125 million accelerated share repurchase program this month.