Signet Sales Boosted by Recovery Strategy
June 02, 26
(IDEX Online) - Signet Jewelers reported a 1.8% increase in same store sales (SSS) for the last three months, a reversal of the 0.7% decrease during the previous quarter.
Total sales for Q1 2027, ending 2 May 2026, were $1.55 billion, up 2.7% year-over-year.
"We drove topline growth in the first quarter with all categories up on a comparable sales basis," said J.K. Symancyk, Signet's CEO.
"We also delivered positive performances for both Valentine's Day in February as well as Mother's Day to start the second quarter."
He said there were early signs that the Grow Brand Love strategy, launched in early 2025 to accelerate sales and differentiate its core brands Kay, Zales, and Jared, is working.
Average unit retail (AUR) is up by around 5% in both bridal and fashion segments. Signet, which operates 2,600 outlets, has adjusted its guidance for the second quarter accordingly.
It forecasts total sales of $1.5 billion to $1.53 billion and an increase in same-store sales (SSS) of 0.5% to 2.5%.