Signet Jewelers Ltd ( SIG )  stock gained after the company reported its fiscal second-quarter 2025 earnings.

Signet reported a second-quarter sales decline of 7.6% year-on-year to $1.49 billion, missing the analyst consensus estimate of $1.50 billion. Adjusted EPS of $1.25 beat the analyst consensus estimate of $1.14.

Overall same-store sales fell 3.4% in the second quarter. North American Same-store sales for the segment decreased by 3.7% compared to last year, while the International segment same-store sales grew by 1.7%

North America segment sales amounted to $1.42 billion, a 6.9% decrease year-over-year. International sales fell 15.2% Y/Y to $86.5 million.

The gross margin of 38.0% improved by ten bps year-over-year due to a higher mix of Services and Fashion revenue. The operating loss for the quarter was $(100.9) million versus $90.2 million last year, with an operating margin loss of (6.8)%, down from 5.6% last year.

Signet Jewelers ( SIG ) held cash and equivalents of $403.1 million as of August 3, 2024.

Signet Jewelers’ Board declared a quarterly cash dividend of $0.29 per share, payable November 22, 2024, to shareholders of record on October 25, 2024.

In the second quarter, Signet Jewelers ( SIG ) repurchased approximately 441,000 common shares at an average cost per share of $90.35, or $39.8 million. As of August 3, 2024, the company is net debt positive by $180 million.

“I’d like to thank our Signet team for delivering our fifth consecutive quarter of sequential same-store sales improvement, up more than 5 points compared to the first quarter of this year and turning positive third quarter to date,” said Signet Chief Executive Officer Virginia C. Drosos.

Guidance: Signet Jewelers ( SIG ) expects third-quarter sales of $1.345 billion–$1.380 billion, versus the consensus of $1.350 billion. Same-store sales change of (1.0)% –1.5%.

SIG reiterated its fiscal 2025 sales outlook of $6.66 billion—$7.02 billion, against the consensus of $6.774 billion. It expects a same-store sales change of (4.5)%-0.5%.

Signet Jewelers ( SIG ) expects fiscal 2025 adjusted EPS of $9.90 – $11.52, against the Street view of $10.23.

Price Action: SIG stock is up 12.7% at $88.00 in premarket at the last check Thursday.