Signet Jewelers Limited (NYSE: SIG) posted first-quarter fiscal 2025 results, wherein both the top and bottom lines beat the Zacks Consensus Estimate. However, both revenues and earnings declined year over year. Also, same-store sales fell 8.9% from the year-ago period. This Zacks Rank #4 (Sell) player's shares have lost 7.8% in the past three months compared with the industry's 7.3% decline. Signet Jewelers Limited Price, Consensus and EPS Surprise Signet Jewelers Limited price-consensus-eps-surprise-chart | Signet Jewelers Limited Quote Quarterly Details Signet has reported adjusted earnings of $1.11 per share, beating the Zacks Consensus Estimate of 82 cents. The bottom line decreased 37.6% from $1.78 in the year-ago quarter. This jewelry retailer generated total sales of $1,510.8 million, surpassing the consensus estimate of $1,505 million. However, the top line fell 9.4% year over year. The metric declined 9.6% at constant currency. A Sneak Peek Into Margins The gross profit in the fiscal first quarter amounted to $572.4 million, down 9.4% from $632 million in the year-ago quarter. We note that the gross margin remained flat year over year to 37.9% in the quarter under review. The adjusted merchandise margin increased 100 basis points, driven by growth in services and the introduction of new products, including the expansion of lab-grown diamonds in the fashion segment. However, this gain was partially offset by the deleveraging of occupancy costs due to lower sales. Selling, general and administrative (SG&A) expenses were $515.4 million, down from $530.4 million in the prior-year quarter. Meanwhile, SG&A expenses, as a percentage of sales, stood at 34.1%, which were 230 bps higher year over year. This change was mainly due to fixed cost deleverage on lower revenue. SIG reported adjusted operating income of $57.8 million, down from $106.5 ...