Signet repurchases 50% of convertible preferred shares for $414M; raises FY2025 non-GAAP EPS guidance

SIGNET JEWELERS LTD

Repurchased 312,500 preferred shares (50% of total) from LGP for ~$414M cash; reduces diluted share count by 4.1M (7.6%).
Amendment to net share settlement reduces diluted share count by additional ~2.9M (5%) at expected prices.
FY2025 non-GAAP diluted EPS guidance raised to $9.90–$11.52 from $9.08–$10.48; weighted avg diluted shares ~46.3M.
Remaining $328M stated value of preferred shares carries 5% dividend; transaction funded from $1.4B cash on hand.
Q1 FY2025 GAAP net income to common shareholders will be reduced by ~$83M as a deemed dividend.

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