WatchesApr 21, 2026
Coco Chanel Enters the Game with New Watch CollectionGabrielle “Coco” Chanel is a character in the “Coco Game” collection of watches and the queen in its first haute horlogerie chessboard.
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
IndependentsApr 21, 2026
Meet Jewelers of America’s 2026 ‘20 Under 40’ ClassThe annual list honors rising professionals on the retail and supply sides of the jewelry industry.
CrimeApr 21, 2026
Customs Nabs 1,500 Pieces of Counterfeit Jewelry Bound for NYCSeized in Kentucky, the packages include fake Cartier, Tiffany & Co., Chanel, and Fendi jewelry.
Brought to you by
Discover Timeless Treasures: A Showcase of Antique Jewelry & Timepieces in Las VegasGain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.
CrimeApr 20, 2026
Queens Man Convicted in Bludgeoning Death of Pawn Shop OwnerRodolfo Lopez-Portillo faces 25 years to life in prison after being found guilty in the March 2022 beating death of Arasb Shoughi.
Weekly QuizApr 16, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
TrendsApr 20, 2026
Beth Bernstein, Sonia Esther Soltani Pen New Jewelry Book“Jewelry Creators: Dynamic Duos and Generational Gems” highlights the relationships among 22 influential designers, brands, and gem dealers.
Events & AwardsApr 20, 2026
Atlanta Jewelry Show’s Spring Event Is Hitting the RoadThe AJS Spring 2027 show will be held in Savannah, Georgia, with future shows taking place in other Southeast cities.
Brought to you by
Las Vegas Antique Jewelry & Watch Show: Showcasing the Most Collectible Merchandise from Across the GlobeGain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.
MajorsApr 20, 2026
Kendra Scott Names New CFO, Chief Business OfficerThe jewelry retailer plans to open 20 new stores this year and expand into new product categories.
TrendsApr 17, 2026
New (Groundbreaking) Floral Jewelry for Spring 2026Flower motifs are the jewelry trend blooming amongst the new collections that debuted this spring.
MajorsApr 17, 2026
QVC Group Files for Chapter 11 BankruptcyThe retailer reported an 8 percent decline in annual sales as it struggles under the weight of billions of dollars of debt.
CollectionsApr 17, 2026
Edina Kiss’ Earrings Are the Devil on Your ShoulderThe “Devil” drop earrings, our Piece of the Week, are part of designer Edina Kiss’ new namesake jewelry line that she will show at Couture.
CrimeApr 17, 2026
FBI Issues Warning to Refineries, Retailers Due to High Price of GoldThe alert states that burglary crews are targeting jewelry businesses and details how jewelers and refineries can protect themselves.
WatchesApr 16, 2026
Cartier Brings Back the RoadsterThe “watchmaker of shapes” debuted the reworked version of the vintage sports car-inspired timepiece at Watches & Wonders.
IndependentsApr 16, 2026
Edge Retail Academy Updates Leadership TeamAs demand for jewelry retail coaching grows, the company has established a dedicated business coaching leadership team.
MajorsApr 16, 2026
Stuller’s Latest Mountings Catalog Is Out NowThe “Mountings 2026-2027” catalog showcases Stuller’s largest and most diverse assortment to date with more than 400 new mounting styles.
PodcastsApr 15, 2026
Episode 4: The Natural Diamond DilemmaSally Morrison and Mark Klein discuss De Beers’ first beacon in 16 years and the mistake the industry made with lab-grown diamonds.
MajorsApr 15, 2026
Spark Creations’ Randy McKenzie Dies at 72 McKenzie spent 45 years with Spark Creations and is remembered for being kind, dedicated, and hardworking.
WatchesApr 15, 2026
These Are the New Rolex Watches for 2026Rolex focused exclusively on the Oyster Perpetual this year, as the model is celebrating its 100th anniversary.
SourcingApr 15, 2026
Diamond Club West Coast Names 2026 BoardKalpesh Jhaveri was re-elected as president for a third year.
TechnologyApr 15, 2026
This Jewelry Brand’s Video Series Is Up for a Webby Award“Diamond Divas,” a social media reality series by Shahla Karimi Jewelry, is nominated in the “Best Social: Fashion & Beauty” category.
SourcingApr 14, 2026
De Beers Expands ‘Desert Diamonds’ Beacon Into BridalThe campaign seeks to reignite desire for natural diamond engagement rings by highlighting the “distinct character” of warm-toned diamonds.
SourcingApr 14, 2026
International Jade Summit to Return to MontereyPresented by Mason-Kay Jade, the summit, in its second year, will again be held during the Monterey Bay Jade Festival.
Events & AwardsApr 14, 2026
CBG Releases Details for Las Vegas ShowThe group has announced its lineup of speakers and a new “Rising Stars” pavilion.
CollectionsApr 13, 2026
Uniform Object’s New Jewelry Collection Centers on the ‘Carbon Form’The “Carbon Form” collection explores the contrast between high and low materials, using rubber cord alongside 18-karat gold and gemstones.
Events & AwardsApr 13, 2026
JA Accepting 2026 Impact Initiative ApplicationsThe program provides essential funding to organizations for projects that enhance the jewelry industry.
Events & AwardsApr 13, 2026
Couture Announces New Show in MiamiThe jewelry trade show is launching its first open-to-the-public event in Coconut Grove this November.
