Signet Jewelers Reports 1.8% Increase in Same-Store Sales

By Chris Stiles • Tuesday, June 02 09:45 • Permanent Link

Signet Jewelers reported first-quarter fiscal 2027 total sales of $1.54 billion, up 0.8% from a year earlier, as same-store sales rose 1.8%.

The company said the quarter’s comparable sales gain came from low-single-digit growth in bridal and fashion, along with stronger growth in watches and services. That improvement was partially offset by a 1-point drag from James Allen. Merchandise average unit retail increased across all categories, with bridal showing the strongest lift.

By segment, North America generated most of Signet’s business, while the International segment posted the sharper comp gain. Same-store sales in International rose 5.6% in the quarter, and merchandise AUR there increased 3.4%. In North America, merchandise AUR climbed 5.1%.

Signet operated 2,559 retail locations at quarter-end. The North America segment had 2,217 U.S. stores and 91 Canadian stores, while International had 251 locations in the U.K. and Republic of Ireland.

The company’s brand mix continued to shift. James Allen transitioned to a proprietary collection within the Blue Nile website in May 2026, part of Signet’s broader effort to centralize diamond sourcing and streamline back-office operations.

For fiscal 2027, Signet is guiding to same-store sales ranging from down 0.75% to up 2.5%. The company said that outlook reflects first-quarter performance, early second-quarter momentum, and a low-single-digit decline in square footage from planned store closures. Beginning in the second quarter, Signet will exclude James Allen and Blue Nile from its same-store sales calculation.

Signet also said it is sharpening its go-to-market strategy for its four largest brands, including website redesigns, more social-first marketing, and changes aimed at improving media efficiency. The company said it continues to monitor tariff developments, including higher duties on merchandise and diamonds sourced from countries such as India and Italy, and said it mitigated most of the added cost through sourcing shifts and value engineering. Today the company's shares have moved -2.63% to a price of $85.09. Check out the company's full 10-Q submission here.

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