Signet Jewelers Ltd., the U.S.-based group behind jewelry chains Zales, Jared, and Kay Jewelers, has raised its full-year sales outlook following stronger-than-expected consumer demand. Despite broader caution in discretionary spending, jewelry remains a top choice among gift and occasion-based purchases.
Signet lifts outlook as bridal jewelry demand holds strong – Instagram: @diamondsdirect
The company now expects annual revenue between $6.67 billion and $6.82 billion, up slightly from its earlier projection. In its most recent quarter, Signet also exceeded analyst forecasts on both adjusted earnings per share and total sales.
Signet’s performance comes ahead of the critical engagement season, which typically spans from Thanksgiving through Valentine’s Day. Approximately half of the group’s revenue is generated by bridal-related purchases, positioning the brand as a key player in the North American wedding jewelry segment.
The company’s stock rose by around 7% in premarket trading following the earnings release. It has gained roughly 9% since the beginning of the year.
