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Strong second-quarter performance: Revenue reached $1.5 billion, same-store sales rose 2.2%, and adjusted EPS increased 36% year over year. Timepieces and bridal performed well, while fashion sales declined 1%.
Outlook and profitability improved: Signet raised its full-year same-store-sales and adjusted operating-income guidance, helped by stronger first-half results, tariff refunds, cost control and expected benefits from its Bread Financial agreement.
Long-term capital and credit initiatives: A renewed seven-year Bread Financial partnership is expected to generate more than $1 billion in incremental revenue and operating income over its term. Signet also expanded its buyback authorization by nearly $400 million and plans a $125 million accelerated share repurchase.