Signet Jewelers (NYSE:SIG) saw its stock spike over 11% intra-day today after delivering a better-than-expected first-quarter profit and raising its full-year outlook for fiscal 2026.

The jewelry retailer posted adjusted earnings of $1.18 per share for the quarter, beating the $1.03 consensus. While quarterly revenue of $1.5 billion came in just shy of expectations, it still marked a 2% increase year-over-year, supported by a 2.5% rise in same-store sales.

Buoyed by the solid start to the fiscal year, Signet raised its full-year adjusted earnings guidance to between $7.70 and $9.38 per share, up from its prior $7.31–$9.10 range. The revised outlook now sits above the Street’s $8.35 estimate. The company also slightly increased the bottom end of its full-year revenue forecast to $6.57–$6.80 billion.

Looking ahead to Q2, Signet projects revenue between $1.47 billion and $1.51 billion, with comparable sales expected to range from a 1.5% decline to 1% growth.