Signet Jewelers Ltd. raised its profit outlook for the full year and lifted the low end of its sales guidance, signaling confidence in the new chief executive’s overhaul strategy and consumers’ willingness to spend despite economic turbulence.

The owner of the Kay Jewelers and Zales chains expects earnings per share, excluding some items, in a range of $7.70 to $9.38 for the current fiscal year, an increase from the previous forecast. Sales for the period are expected to be at least $6.57 billion, up from the previous floor of $6.53 billion.

Shares in Signet jumped 11% in premarket trading on Tuesday. The company’s stock was down 17% so far this year through Monday’s close.

The company said the growth strategy from Chief Executive Officer J.K. Symancyk, who assumed the role last Novemb

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