Signet Jewelers (NYSE: SIG) posted stronger-than-expected third-quarter results on Thursday, including positive same-store sales growth, yet its shares fell about 4% intra-day on Tuesday, even as the retailer raised its fiscal 2026 outlook.
Signet reported adjusted earnings per share of $0.63, sharply above the analyst consensus of $0.24. Revenue totaled $1.4 billion, ahead of expectations of $1.36 billion and up 3.1% year over year.
Performance strengthened across key banners, with average unit retail prices rising 7%, including a 6% increase in bridal and an 8% increase in fashion jewelry. Gross margin improved 130 basis points to 37.3%, despite pressures from tariffs and elevated gold costs.
For the fourth quarter, Signet projected revenue of $2.24 billion to $2.37 billion, with same-store sales expected to range from down 5% to up 0.5%. The company also raised its full-year revenue and earnings guidance, now expecting fiscal 2026 sales of $6.70 billion to $6.83 billion, same-store sales of -0.2% to +1.75%, and adjusted EPS between $8.43 and $9.59, up from its prior range of $8.04 to $9.57.
