Signet Jewelers reported steady Q3 gains for Fiscal 2026, with same store sales rising 3% as Kay, Zales and Jared led demand in Bridal and Fashion categories. Total sales reached $1.39 billion, up 3.1% year on year, supported by higher average unit retails in both segments.
Operating income more than doubled to $23.9 million, while adjusted operating income rose to $32 million. Merchandise margins improved despite tariffs and higher gold costs. Free cash flow strengthened by more than $100 million compared to last year as inventory levels were trimmed by 1%.
International performance remained mixed, with the segment posting a 4.4% reported sales increase but continuing to operate at a loss. The North America division delivered 3% growth and expanded profitability.
For the full year, Signet raised its guidance, projecting total sales between $6.70 billion and $6.83 billion and adjusted diluted EPS between $8.43 and $9.59. Holiday expectations remain cautious due to recent external disruptions and uneven consumer confidence.
Signet continued share buybacks, having repurchased 2.8 million shares year to date, and declared a quarterly dividend of $0.32 per share payable in February 2026.