Signet Jewelers raises FY24 EPS view to $9.55-$10.14 from $9.49-$10.09

Consensus $ $9.42. Backs FY24 revenue view $7.1B-$7.3B, consensus $7.18B. “We’re reaffirming our full year revenue and non-GAAP operating income guidance today as we anticipate the current macro trends will continue and engagements will begin their recovery. Additionally, we are increasing our EPS guidance to reflect second quarter share repurchases,” said Joan Hilson, Chief Financial, Strategy and Services Officer. “We expanded our margin accretive Services capacity this quarter, advancing our commitment to the jewelry craft, B2B capabilities, and bringing more repairs in house. This network optimization is enabled through integration of the Blue Nile Seattle facility and the acquisition of SJR National Repair. Our cost savings initiatives of $225 to $250 million are on track, and our core inventory is healthy at 20% below pre-pandemic levels.”