Editor’s Note
Signet Jewelers’ strong Q3 results and raised full-year outlook signal robust operational momentum and a confident return to shareholder value.
On December 2, 2025, Signet Jewelers reported third-quarter earnings that exceeded expectations, with total sales of US$1.39 billion, net income of US$20 million, and updated full-year fiscal 2026 guidance raising both total sales and same-store sales outlooks.
The company also affirmed a quarterly dividend and continued share repurchases, highlighting a focus on shareholder returns while confidence in ongoing business momentum led to upwardly revised projections for revenue and earnings.
To become a long-term shareholder in Signet Jewelers, you need to believe the company can sustain sales gains by driving demand among younger consumers and expanding its share in both bridal and fashion categories, despite ongoing shifts in preferences and market challenges.
These results, while positive, do not appear to materially change the near-term risk from flat or declining jewelry unit volumes.
Among the recent announcements, Signet’s upsized full-year sales and same-store sales guidance stands out as particularly relevant. This move shows management sees potential for continued (if moderate) sales growth, even as unit trends remain pressured and tariff headwinds could further impact profitability. All of this feeds directly into debates over what will drive the next phase of performance for the stock.
However, investors should be aware that even with solid headline numbers, persistent weakness in actual jewelry unit sales could limit long-term upside.
Signet Jewelers’ narrative projects $7.0 billion revenue and $612.3 million earnings by 2028. This requires a 1.0% annual revenue decline and a $481.9 million increase in earnings from $130.4 million today.
Six unique fair value estimates from the Simply Wall St Community range from as low as US$7 to as high as US$169, reflecting extremely broad outlooks. While many expect margin growth from lab-grown diamonds, opinions differ on the risks to real demand growth.