Morning Bites (part 1)

💍Signet has reported 2.2% YoY growth in same-store sales for 2Q26 (May-July), vs. the 1.8% YoY increase in 1Q26. The company has maintained its FY27 (ends in January 2027) total sales guidance, but raised the profit outlook and the lower end of its same-store sales range

Despite the solid downstream demand overall, we maintain our cautious view on the prospects for a global diamond market recovery in 2026-27. The pending sale or spinoff of De Beers by Anglo American leaves the miner’s future strategy and approach to supply discipline uncertain until the transaction has been completed. A sustained market recovery is therefore unlikely before the ownership situation has been resolved, while restoring market discipline and pricing power could take several years

#diamonds