Investing.com -- Signet Jewelers shares gained more than 6% during premarket trading Tuesday after the jewelry retailer beat first-quarter earnings estimates and raised its full-year outlook.

The company reported earnings per share (EPS) of $1.56 for the first quarter of fiscal 2027, topping analyst expectations of $1.38, on revenue of $1.6 billion against a consensus estimate of $1.56 billion.

Same-store sales rose 1.8% from the year-earlier period, while merchandise average unit retail climbed roughly 5%, with gains across both bridal and fashion categories.

"We drove topline growth in the first quarter with all categories up on a comparable sales basis. We also delivered positive performances for both Valentine’s Day in February as well as Mother’s Day to start the second quarter," said CEO J.K. Symancyk.

Adjusted gross margin during the quarter came in at $589.2 million, or 37.9% of sales, in line with company expectations.

For the second quarter, Signet guided revenue to $1.5-$1.53 billion, slightly below the $1.54 billion consensus, with same-store sales growth of 0.5% to 2.5% and adjusted EBITDA of $125 to $139 million.

For the full year, the company raised its adjusted EPS guidance to $9.20-$11.00 from $8.80-$10.74, and nudged up its total sales range to $6.7-$6.9 billion from $6.6-$6.9 billion.

Adjusted EBITDA guidance was upped at the lower end to $665-$745 million, while the floor on adjusted operating income was raised to $480 million from $470 million.

Signet also said it plans to launch a $50 million accelerated share repurchase agreement this month, after which roughly $355 million in buyback authorization will remain.