MajorsJan 09, 2026
Kendra Scott Taps Activewear Exec as CEO Chris Blakeslee has experience at Athleta and Alo Yoga. Kendra Scott will remain on board as executive chair and chief visionary officer.
FinancialsSep 05, 2019
Signet Turns in Better-Than-Expected Q2 Performance
The retailer’s same-store sales in North America dipped 1 percent as foot traffic continued to decline, but it beat analysts’ expectations and saw its stock rise.
Piercing Pagoda launched its “Be More You” campaign this summer for its 50th anniversary, encouraging self-expression through piercings and jewelry. The Signet-owned banner saw the highest same-store sales growth in the company’s second quarter.
Akron, Ohio—Signet Jewelers Ltd. reported a dip in second-quarter revenue and a decline in foot traffic but the jeweler still posted better-than-expected sales.
Second-quarter sales for all Signet stores, both in North America and the United Kingdom, fell 4 percent year-over-year but totaled $1.36 billion, slightly higher than the $1.3 billion analysts had expected.
The jeweler also reported earnings of $0.51 per share, double the $0.25 per share analysts had expected.
The company's Q2 performance prompted CEO Gina Drosos to note the company is beginning to see results from its turnaround plan.
“We continue to gain traction on our transformation initiatives and delivered second-quarter results that exceeded our same-store sales, non-GAAP operating profit, and non-GAAP earnings per share expectations,” she said in the company press release announcing its Q2 results.
Signet’s Q2 same-store sales, which include both online and in-store sales, slipped 2 percent.
Quarterly e-commerce sales were up 4 percent to $156.9 million, accounting for 12 percent of overall sales, compared with 11 percent in the prior-year second quarter.
Brick-and-mortar same-store sales dipped 2 percent.
In North America, where Signet operates stores like Kay Jewelers, Jared the Galleria of Jewelry and Piercing Pagoda, sales totaled $1.24 billion, with same-store sales down 1 percent.
The average transaction value increased 1 percent, but the number of transactions was down 2 percent.
By banner, Piercing Pagoda was the top performer, with same-store sales for the chain of ear-piercing kiosks climbing 11 percent.
This marks the fifth consecutive quarter the banner has seen double-digit growth, Signet CEO Gina Drosos noted on the company’s earnings call Thursday morning.
Same-stores sales at Zales rose 2 percent, while comps were down 2 percent at e-tailer James Allen and 3 percent at Kay Jewelers.
Comps fell 4 percent at Jared the Galleria of Jewelry while Canadian chain Peoples Jewellers recorded a 1 percent decline in same-store sales.
Regional banners performed poorly, with same-store sales falling 10 percent.
By category, fashion sales were strong, growing across all North America banners, Drosos said. Gold fashion jewelry, the “Love + Be Loved” collection, and Disney were the top performers.
Bridal, watches and other categories declined on a same-store sales basis, with the drop in the “other” category stemming from sliding Pandora sales.
Within bridal, Enchanted Disney and The Leo Diamond performed well, while sales of Ever Us and Tolkowsky slipped.
On the call, Drosos discussed the company’s strategy for the upcoming holiday season, which includes improving its merchandise assortment and shopping experience,
and looking to services as a revenue driver, including expanding ear piercing services to Kay Jewelers stores.
“As we enter the competitive holiday season, we believe we are positioned to execute our product strategy by launching additional flagship brands, delivering relevant on-trend new merchandise and offering a highly competitive assortment for value-oriented shoppers,” she said in press release.
Signet’s holiday plans include new products, including offering more colored gemstone bridal jewelry, and a new Vera Wang’s men’s collection.
Regarding tariffs, Drosos said they’ve had no “meaningful impact” on the business and Signet does not expect to pass costs along to the customer.
She added that the company has moved some of its business out of China to decrease its exposure.
Looking ahead, the retailer reiterated its full-year outlook, expecting sales of $6-$6.06 billion with same-store sales falling between 2 and 3 percent.
Signet also announced plans Thursday to refinance its existing credit facilities, entering into five-year $1.6 billion senior asset-based credit facilities, extending maturities and increasing its liquidity.
“As we enter the competitive holiday season, we believe we are positioned to execute our product strategy by launching additional flagship brands, delivering relevant on-trend new merchandise and offering a highly competitive assortment for value-oriented shoppers,” she said in press release.
Signet’s holiday plans include new products, including offering more colored gemstone bridal jewelry, and a new Vera Wang’s men’s collection.
Regarding tariffs, Drosos said they’ve had no “meaningful impact” on the business and Signet does not expect to pass costs along to the customer.
She added that the company has moved some of its business out of China to decrease its exposure.
Looking ahead, the retailer reiterated its full-year outlook, expecting sales of $6-$6.06 billion with same-store sales falling between 2 and 3 percent.
Signet also announced plans Thursday to refinance its existing credit facilities, entering into five-year $1.6 billion senior asset-based credit facilities, extending maturities and increasing its liquidity.
More on Financials
The Latest
SurveysJan 09, 2026
U.S. Holiday Retail Sales Up 4%, Visa, Mastercard SayThe credit card companies’ surveys examined where consumers shopped, what they bought, and what they valued this holiday season.
AuctionsJan 09, 2026
Christie’s Names New Global Managing Director for LuxuryKimberly Miller has been promoted to the role.
Brought to you by
Impacting Tomorrow TodayHow Jewelers of America’s 20 Under 40 are leading to ensure a brighter future for the jewelry industry.
CollectionsJan 09, 2026
Piece of the Week: Lionheart’s ‘Serenity’ Opal CharmThe “Serenity” charm set with 13 opals is a modern amulet offering protection, guidance, and intention, the brand said.
Weekly QuizJan 08, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CollectionsJan 08, 2026
Pandora’s New ‘Bridgerton’ Jewels Celebrate Bees, Bows, and Blooms“Bridgerton” actresses Hannah Dodd and Claudia Jessie star in the brand’s “Rules to Love By” campaign.
Events & AwardsJan 08, 2026
Ana Khouri To Receive 2026 Gem Award for High Jewelry ExcellenceFounded by jeweler and sculptor Ana Khouri, the brand is “expanding the boundaries of what high jewelry can be.”
Brought to you by
Roseco Releases New Full-Line CatalogRoseco’s 704-page catalog showcases new lab-grown diamonds, findings, tools & more—available in print or interactive digital editions.
TrendsJan 08, 2026
Stuller’s Color of the Year Is a Stark Contrast to Pantone’s WhiteThe jewelry manufacturer and supplier is going with a fiery shade it says symbolizes power and transformation.
CollectionsJan 08, 2026
Gracie Abrams To Front New Chanel Jewelry CampaignThe singer-songwriter will make her debut as the French luxury brand’s new ambassador in a campaign for its “Coco Crush” jewelry line.
MajorsJan 08, 2026
Diamond Council of America Names New Board DirectorsThe nonprofit’s new president and CEO, Annie Doresca, also began her role this month.
ColumnistsJan 07, 2026
Peter Smith: Physical Retail—The Beginning or the End?As the shopping mall model evolves and online retail grows, Smith shares his predictions for the future of physical stores.
Events & AwardsJan 07, 2026
Melee Adds 13 New Designers to NYC ShowThe trade show is slated for Jan. 31-Feb. 2 at The Lighthouse in New York City's Chelsea neighborhood.
TrendsJan 07, 2026
Amanda’s Style File: Go for GarnetJanuary’s birthstone comes in a rainbow of colors, from the traditional red to orange, purple, and green.
SourcingJan 07, 2026
Diamonds Do Good Releases 2025 Impact ReportThe annual report highlights how it supported communities in areas where natural diamonds are mined, crafted, and sold.
CrimeJan 06, 2026
2 Jewelers Arrested After TraxNYC Diamond District BrawlFootage of a fight breaking out in the NYC Diamond District was viewed millions of times on Instagram and Facebook.
MajorsJan 06, 2026
Rio Grande Says These Are the Top Personalization Tools for 2026The supplier has a curated list of must-have tools for jewelers doing in-house custom work this year.
MajorsJan 06, 2026
Zales Tests Out A New LookThe Signet Jewelers-owned store, which turned 100 last year, calls its new concept stores “The Edit.”
MajorsJan 06, 2026
LeachGarner Appoints New Director of SalesLinda Coutu is rejoining the precious metals provider as its director of sales.
SourcingJan 06, 2026
AGA Announces 2026 BoardThe governing board welcomed two new members, Claire Scragg and Susan Eisen.
TrendsJan 05, 2026
Amanda’s Style File: New Year’s EditionSparkle with festive diamond jewelry as we celebrate the beginning of 2026.
IndependentsJan 05, 2026
Jeweler Ben Nighthorse Campbell Dies at 92The master jeweler, Olympian, former senator, and Korean War veteran founded the brand Nighthorse Jewelry.
TrendsJan 05, 2026
Pinterest 2026 Trend Report: Brooches, Bold Gold, Cool BlueIn its annual report, Pinterest noted an increase in searches for brooches, heirloom jewelry, and ‘80s luxury.
MajorsJan 02, 2026
Marc Metrick Out as CEO of Saks Global Executive Chairman Richard Baker will take over the role as rumors swirl that a bankruptcy filing is imminent for the troubled retailer.
Events & AwardsJan 02, 2026
Jan Mohr, Couture’s ‘North Star,’ Dies at 71Mohr had just retired in June after more than two decades as Couture’s retailer liaison.
SourcingJan 02, 2026
IDCA Elects New President, Board of DirectorsShekhar Shah of Real Gems Inc. will serve as president of the Indian Diamond & Colorstone Association in 2026.
CollectionsJan 02, 2026
Lalaounis’ 2026 Good Luck Charm Speaks to ResilienceThis year’s good luck charm features the mythical horse Pegasus, and is our first Piece of the Week of the new year.
