Signet Jewelers Limited reported a notable financial performance for the third quarter of Fiscal 2026, ending November 1, 2025, with total sales reaching $1.39 billion, a 3.1% increase from $1.35 billion in the same period last year. Merchandise sales contributed $1.21 billion, while service sales accounted for $185.6 million. The company achieved a net income of $20.0 million, or $0.49 per diluted share, compared to a net income of $7.0 million, or $0.12 per diluted share, in the prior year. This marks a significant turnaround from a net loss of $39.4 million for the first nine months of Fiscal 2025, with year-to-date net income now at $44.4 million.
The company’s performance reflects a strategic focus on its largest brands, particularly in the bridal and fashion categories, which drove a 3.0% increase in same-store sales. Average unit retail (AUR) increased by 7.7% in North America, bolstered by a refined assortment strategy and higher gold prices. However, the James Allen and Diamonds Direct brands underperformed, impacting overall sales. E-commerce sales decreased slightly to $280.7 million, accounting for 20.2% of total sales, down from 21.4% in the previous year.
Signet has been actively implementing its "Grow Brand Love" strategy, which aims to enhance brand loyalty and drive sustainable growth. This includes optimizing its store footprint, with 2,607 retail locations as of November 1, 2025, and a focus on digital capabilities. The company closed 46 stores during the year, while opening 11 new locations. The North America segment remains the largest contributor to sales, with total sales of $4.18 billion year-to-date, up 2.4% from the previous year.
The company’s operational efficiency is reflected in its gross margin, which improved to 37.3% of sales, up from 36.0% in the prior year. Selling, general, and administrative expenses (SG&A) were stable at 34.9% of sales, despite increased incentive compensation. Signet recorded asset impairment charges of $1.5 million for the quarter and $84.9 million year-to-date, a decrease from the previous year's $169.3 million, indicating improved asset management.
Looking ahead, Signet anticipates same-store sales for Fiscal 2026 to range from a decline of 0.2% to an increase of 1.75%, with a cautious outlook for the fourth quarter due to macroeconomic factors. The company is strategically positioned for the holiday season, focusing on a well-curated merchandise assortment and targeted marketing efforts. With $234.7 million in cash and no outstanding debt, Signet maintains a strong liquidity position, supported by a $1.2 billion asset-based revolving credit facility.
About SIGNET JEWELERS LTD
Signet Jewelers Limited is the world's largest retailer of diamond jewelry, operating a diverse portfolio of brands across North America and the UK. It offers jewelry, watches, and related services through retail stores and digital channels, emphasizing brand differentiation, customer experience, and loyalty programs. The company leverages supply chain efficiencies, innovative marketing, and flexible financing to serve a broad customer base and foster long-term relationships.
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