11:03 AM EDT, 09/12/2024 (MT Newswires) -- (Updates with stock move in the headline and the first paragraph.)

Signet Jewelers ( SIG ) shares jumped 17% in recent Thursday trading after the company reported fiscal Q2 adjusted earnings that exceeded market expectations.

In the 13 weeks ended Aug. 3, Q2 adjusted earnings fell to $1.25 per diluted share from$1.55 a year earlier, the company said Thursday.

Analysts polled by Capital IQ expected $1.21.

Sales dropped to $1.49 billion from $1.61 billion a year earlier.

Analysts surveyed by Capital IQ expected $1.50 billion.

Same-store sales fell 3.4% versus a 12% drop a year earlier.

Analysts surveyed by Capital IQ expected a 4.3% decrease.

In fiscal Q3, the jewelry retailer expects sales of $1.35 billion to $1.38 billion and same-store sales in the range of a 1% decline to a 1.5% increase.

Analysts surveyed by Capital IQ expect $1.35 billion in revenue and a 1.1% decrease in same-store sales.

For fiscal 2025, the company maintained its adjusted earnings forecast of $9.90 to $11.52 per diluted share on sales of $6.66 billion to $7.02 billion.

Analysts polled by Capital IQ expect normalized earnings of $10.28 a share on revenue of $6.77 billion.

Fiscal 2025 same-store sales are expected in the range of a 4.5% fall to a 0.5% gain, the company said.

Analysts polled by Capital IQ expect a 2.8% decrease.

Signet Jewelers ( SIG ) maintained its quarterly dividend at $0.29 per share, payable Nov. 22 to shareholders of record Oct. 25.

Price: 91.04, Change: +12.95, Percent Change: +16.59