By
Bloomberg
Published
June 3, 2025
Signet Jewelers Ltd. raised its profit outlook for the full year and lifted the low end of its sales guidance, signaling confidence in the new chief executive’s overhaul strategy and consumers’ willingness to spend despite economic turbulence.
The owner of the Kay Jewelers and Zales chains expects earnings per share, excluding some items, in a range of $7.70 to $9.38 for the current fiscal year, an increase from the previous forecast. Sales for the period are expected to be at least $6.57 billion, up from the previous floor of $6.53 billion.
Shares in Signet jumped 11% in premarket trading on Tuesday. The company’s stock was down 17% so far this year through Monday’s close.
The company said the growth strategy from Chief Executive Officer J.K. Symancyk, who assumed the role last November, is showing results.
The plan includes expanding the company’s share of bridal jewelry sales in the US, while restructuring the company structure and centralizing some of its product marketing.
“We’ve seen a resilient consumer,” Symancyk said in an interview, adding that this has sparked sales growth. “I think the consumer is still recognizing a good value proposition.”
The company said the updated outlook reflects the current economic environment and tariffs as well as cost-saving initiatives.
Consumer sentiment has mostly slipped this year, underscoring anxieties about President Donald Trump’s trade war, job prospects and the global economy.
Some luxury retailers, including LVMH, reported weaker sales on high-end goods. Others, such as Tapestry Inc. have raised their outlooks, shrugging off broader concerns.
Signet has increased its fashion jewelry assortment, which includes items such as gold jewelry and lab-grown diamonds, to capture shoppers looking for products in the $200-to-$500 price range. Mid-tier luxury brands such as Tapestry’s Coach have managed economic uncertainty by appealing to consumers looking for quality and value.
Less than 10% of Signet’s inventory is imported from China, leaving it less exposed to tariffs imposed on foreign goods than other retailers.