Signet Jewelers has reported higher sales for the second quarter, with all jewelry brands delivering improvements.

Signet operates approximately 2500 stores under brands including Kay Jewelers, Zales, Jared, Banter by Piercing Pagoda, Diamonds Direct, Blue Nile, Peoples Jewellers, H Samuel, and Ernest Jones. 

The company’s sales were largely flat at $1.5 billion during the quarter ended August 1, but same-store sales grew 2.2 per cent.

Management said the same-store sales growth was driven by positive comparable performance in all fine jewelry brands.

Merchandise average unit retail was up 6 per cent, with growth in both bridal and fashion.

“Building on this momentum, we are accelerating our key brand initiatives, including merchandise refreshes, enhancements to both the online and in-store customer experience, and a more modern and emotionally engaging marketing approach,” said CEO JK Symancyk.

Gross margin increased 80 basis points to 39.4 per cent, reflecting $15 million of tariff refunds alongside lower inventory and distribution costs. Operating income soared from last year’s $2.8 million to $87.5 million.

The company has raised its full-year outlook, expecting same-store sales to be flat to up 2.5 per cent.

Last month, Signet appointed two senior retail executives to lead three of its core brands – Zales, Banter, and Blue Nile.