Signet Jewelers Q2 Profit Beats Estimates; Same Store Sales Down 3.4%

(RTTNews) - Signet Jewelers (SIG) reported a second quarter net loss attributable to common shareholders of $101.5 million compared to net income of $66.5 million, last year. Loss per share was $2.28, compared to earnings per share of $1.38. Adjusted EPS was $1.25, compared to $1.55. On average, six analysts polled by Thomson Reuters expected the company to report profit per share of $1.14, for the quarter. Analysts' estimates typically exclude special items.

Second quarter sales were $1.5 billion, down 7.6%, or down 7.6% on a constant currency basis. Same store sales were down 3.4%, for the quarter. Analysts on average had estimated $1.5 billion in revenue.

Signet's Board has declared a quarterly cash dividend on common shares of $0.29 per share for the third quarter, payable November 22, 2024 to shareholders of record on October 25, 2024.

For fiscal 2025, the company expects adjusted EPS in a range of $9.90 to $11.52, and total sales in a range of $6.66 billion to $7.02 billion. The company expects third quarter total sales in a range of $1.345 billion to $1.380 billion.

Shares of Signet Jewelers are up 7% in pre-market trade on Thursday.

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