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Tiffany & Co. (NYSE: TIF) and Signet Jewelers Ltd. (NYSE: SIG) both reported earnings before the markets opened on Thursday. As major jewelry retailers and from a broad perspective, we might expect a similar performance across the industry, but this was not the case. The reaction for each of these companies was either incredibly positive or negative, leaving no real middle ground.

Signet reported that it had $1.14 in earnings per share (EPS) on $1.4 billion revenues. The consensus estimates from Thomson Reuters had called for $1.45 in EPS on revenue of $1.44 billion. In the same period of last year, it posted EPS of $1.28 and $1.42 billion in revenue.

Same-store sales were down 2.3%. Total sales were down 2.6%, while total sales at constant exchange rate were down 1.3%.

As for guidance, the company expects to see EPS in the range of $0.17 to $0.25 for the third quarter, as well as $6.90 to $7.22 for the fiscal year. The consensus EPS estimates are $0.50 and $8.22 for the third quarter and fiscal year, respectively.

Tiffany posted EPS of $0.84 and $932 million in revenue, compared to the consensus estimates of $0.72 per share and $934.74 million. The second-quarter from the previous year reportedly had $0.86 in EPS on revenue of $990.5 million.

Comparable store sales declined 8%. On a constant-exchange-rate basis, worldwide net sales and comparable store sales declined 6% and 9%, respectively.

In terms of the outlook for the fiscal year, Tiffany expects to see worldwide net sales declining by a low single-digit percentage and EPS declining by a mid-single-digit percentage, both compared to fiscal 2015’s numbers. The consensus estimates are $3.63 in EPS on $4.02 billion in revenue.

Shares of Signet were trading down nearly 15% at $81.50 on Thursday, with a consensus analyst price target of $129.02 and a 52-week trading range of $77.00 to $152.27.

Tiffany shares were up about 6% at $72.86, within a 52-week trading range of $56.99 to $85.24. The consensus price target is $73.54.