In a Fiscal 2026 guidance Signet Jewelers has provided the report & said, total sales anticipate a measured consumer environment, providing for variability in consumer spending over the year. The Company expects to absorb current tariffs within the adjusted operating income range provided. Excludes any potential impact resulting from any new tariffs and the potential outcome of reciprocal tariffs.
The Fiscal 2026 guidance of Signet highlight, 1: Planned capital expenditures of approximately $145 to $160 million.
2: Net square footage decline of 1% to flat for the year.
3: Annual tax rate of 23% to 25%, including the non-cash impact of approximately 4% for the CITA2023 Bermuda tax impact previously disclosed; excludes potential discrete items.
4: Diluted EPS for Fiscal 2026 excludes any potential further share repurchases subsequent to today.
The guidance published in the report of Signet Jewelers Reports 1Q; First Quarter Fiscal 2026 Results. Unveiling the result, the Signet said, gross margin was $598.8 million, up approximately $26 million to Q1 of FY25. Gross margin rate grew 100 basis points to 38.8%, driven by gross merchandise margin expansion and leverage on fixed costs.
Selling, General, and Administrative expenses [SG&A] was $526.0 million, or 34.1% of sales, up from $515.4 million, and flat to Q1 of FY25 as a percentage of sales. Operating income was $48.1 million, or 3.1% of sales, compared to $49.8 million, or 3.3% of sales, in Q1 of FY25. Adjusted operating income was $70.3 million, or 4.6% of sales, compared to $57.8 million, or 3.8% of sales, in Q1 of FY25.
The current quarter income tax expense was $12.1 million compared to $6.5 million in Q1 of FY25. Adjusted income tax expense was $17.6 million compared to $8.4 million in Q1 of FY25.
Diluted EPS was $0.78, up from a loss per share of $0.90 in Q1 of FY25. Diluted EPS in the current quarter includes $0.46 of restructuring charges. Adjusted diluted EPS was $1.18, compared to $1.11 in Q1 of FY25. Adjusted diluted EPS reflects higher adjusted operating income and lower diluted share count which was partially offset by a higher effective tax rate.
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