Signet Reports First-Quarter Sales Increase, Raises Guidance for Year

By Karen Dybis | June 02, 2026

Signet Jewelers today reported positive results during a tumultuous time for the industry, as the jewelry giant’s same-store sales rose 1.8% in the first quarter.

CEO J.K. Symancyk (pictured) told analysts on an earnings call that Signet has raised its guidance for the rest of the fiscal year, based on momentum going into the second quarter.

“We continue to see strength in the higher-end consumer, with some of our best performance at higher-price points,” Symancyk said. “Collections also continue to be an additional growth driver, with Shy continuing to fuel fashion growth, and Neil Lane and Monique Lhuillier driving growth for bridal.”

Q1 of Signet’s fiscal year—the 13 weeks ended May 2— included several events with a significant impact on business: Valentine’s Day, the start of the Iran war on Feb. 28, and Mother’s Day shopping.

For the quarter, Signet said same-store sales totaled $1.6 billion, up 1.8% year-over-year, with growth in both bridal and fashion categories for its four core brands—Kay, Jared, Zales, and Blue Nile.

“We’ve now delivered positive comps in 15 of the last 17 months and…we believe Grow Brand Love is setting the foundation for sustainable long-term growth, with the ability to grow even during turbulent macro periods,” Symancyk said.

Signet’s operating income for Q1 was $36.9 million, down from $48.1 million in the same period last year. The company’s store count decreased by 23 from the end of fiscal 2026. As of May 2, Signet operated 2,559 stores.

For this fiscal year, Signet said it expects the change in same-store sales to fall somewhere between a 0.75% decrease and a 2.5% increase, with total revenue between $6.7 and $6.9 billion.

Consumer worries around gas prices and inflation are having minimal effect on Signet’s business, according to Symancyk, because jewelry tends to be an emotional purchase and often bought on credit.

Signet said its fiscal 2027 guidance is based on several assumptions, including what it called a “dynamic” tariff, commodity, and consumer environment. It also expects a $60 to $80 million net-revenue reduction related to the shutdown of James Allen as a stand-alone e-tailer.

Under Signet’s Grow Brand Love revamp, now in its second year, the Kay, Zales, and Jared websites are getting redesigned. Signet wants to improve search options, site navigation, and storytelling on these virtual storefronts—as they are where Signet’s customers tend to start their jewelry search, said Symancyk.

“The focus on brand distinction is about sharpening our four core engines,” he said. “The website redesign provides additional opportunity to clearly define brand identities.

“We’re furthest along with the redesign work at Jared and continue to expect all three to be completed in the early part of the third quarter,” he added.

To connect with Gen Z, Signet is boosting its social media marketing as well as its creator partnerships, such as those with model Ashley Graham and NFL player Christian McCaffrey, said Symancyk.

Signet’s recent acquisition of the Clear Cut is part of that strategy, as Symancyk also mentioned Signet’s investing in jewelry brands that offer white-glove experiences, which younger consumers seek when shopping for jewelry.

“This isn’t about spending more, but rather spending differently,” he said. “At Kay this quarter, our spend on social media was up only 1%, whereas we delivered a low double-digit growth in impressions. These early examples of our marketing transformation, similar to our website redesign efforts, represent our aim to deliver progress ahead of this year’s holiday season, as we focus on the right audiences, channels, and messages to drive stronger customer engagement and build brand equity.”

The Clear Cut purchase closed on Monday, Signet’s chief operating and financial officer Joan Hilson said during the earnings call. Signet has said it plans to integrate the Clear Cut into Blue Nile, which will focus on natural diamonds.

“We are repositioning Blue Nile as a premium brand serving a broader age group with a more affluent customer,” said Hilson. “We are evolving the brand to achieve an elevated luxury position, creating a clear brand distinction as part of our Grow Brand Love strategy anchored in the enduring value of natural diamonds.

“For context, we believe approximately 70% of engagement market revenue remains natural diamonds, and the higher end—over $5,000—is more than 90% natural diamonds,” she said.

Symancyk spoke about Signet’s efforts to centralize sourcing for diamonds for its North American brands, which should help improve margins.

“That team has also taken steps to begin refining stone type, size, shape and quality of offerings by brand,” he said. “We continue to identify and implement scale benefits through sourcing, planning, and pricing, particularly as we balance our use of promotion against recent commodity highs.”

As far as gold prices, Hilson said Signet is leveraging gold value to “opportunistically” melt clearance product and make room for new introductions. Symancyk noted that the company is looking at smaller-carat gold pieces and alternative materials to keep costs reasonable.

On the personnel side, Signet is expanding career development for employees, to motivate high performers and thus improve service in stores, said Symancyk.

“Talent is a big part of how we perform while we transform,” he said. “As the jewelry customer evolves, our talent model has to evolve with them. Gen Z wants to shop in store, but they’ve set the bar higher for what experience looks like. They want a stronger personal connection.

“In jewelry, the customer is often doing business with two brands—the name above the door and the name on the consultant’s name tag. That connection is an increasingly important factor in customer experience,” Symancyk continued. “That’s why aligning how we recruit, train, and reward talent to that customer mindset is so important.”

(Photo courtesy of Signet Jewelers)