ColumnistsMay 12, 2026
It’s Official: We’re Getting ‘Brain Rot’ From Watching Short-Form Videos Peter Smith gives tips on leading meetings, developing marketing, and making trade show appointments in the age of short attention spans.
FinancialsDec 03, 2020
Early Holiday Shoppers Bolster Signet’s Q3 Sales
The company geared up for the holiday rush, equipped with five times the shipping capacity it had this time last year.
Signet’s same-store sales were up 15 percent in the third quarter. The retailer is offering in-store, online, “Buy Online, Pick-Up in Store,” services and curbside delivery options for the holiday season. (Photo courtesy of Signet Jewelers)
Akron, Ohio—Signet Jewelers Ltd.’s sales posted strong third-quarter results with sales and same-store sales climbing double digits.
In the third quarter ending Oct. 31, sales totaled $1.3 billion, up 10 percent year-over-year, with same-store sales climbing 15 percent, the retailer reported Thursday morning.
Brick-and-mortar sales were up 7 percent. Online sales were up 71 percent year-over-year to $238.8 million.
Year-to-date, Signet’s sales have totaled $3.04 billion, down 24 percent year-over-year, with same-store sales sliding 20 percent.
"Our success came from a combination of factors including significant digital, product, and marketing innovations; our ability to capture pent-up demand as our stores reopened; and intentional efforts to capture early holiday shopping to help mitigate traditionally high in-store traffic days in December,” said CEO Gina Drosos in a press release.
Signet has been growing its digital capabilities, implementing a full-time virtual selling team to work virtually with customers from their homes or in stores. A total of 600,000 virtual appointments have been held so far.
“When consultants are involved, we see higher conversion rates and higher transaction value,” said Drosos on an earnings call Thursday morning.
In North America, where Signet’s banners include Kay, Jared and Zales, third-quarter same-store sales were up 16 percent to $1.18 billion.
Brick-and-mortar same-store sales in the region were up 8 percent, while online sales were up 73 percent.
The average transaction value (ATV) was up about 1 percent while the number of transactions was up 14 percent.
In the U.K., same-store sales were up 8 percent.
Brick-and-mortar sales rose about 1 percent while e-commerce sales were up 58 percent. ATV increased 18 percent while the number of transactions dropped 8 percent.
Product-wise, Drosos noted the popularity of brands like Neil Lane, Le Vian, and Vera Wang as well as its newer launches, like its collaboration with bridal gown designer Pnina Tornai and the Royal Asscher collection.
Customized pieces and sentimental gifts, including the Everything You Are line, available at Kay Jewelers and Zales, are also performing well.
Sales in the bridal category rose 13 percent to $612.5 million year-over-year in the third quarter and fell 22 percent to $1.4 billion in the first nine months.
Sales of fashion jewelry were up 16 percent to $420.2 million year-over-year in the third quarter and fell 21 percent to $1.04 billion in the year so far.
In the watches category, quarterly sales were down 13 percent to $67 million year-over-year and down 38 percent to $155.2 million so far this year.
Editors' Picks
Sponsored by
By banner, Piercing Pagoda was the star of the show with quarterly sales climbing 37 percent to $93.7 million. Year-to-date sales were down 9 percent to $204.4 million.
E-tailer James Allen posted quarterly sales of $76.6 million, up 26 percent year-over-year. Year-to-date sales were up 11 percent to 184.7 million.
Zales’s quarterly sales were up 13 percent to $251.4 million while year-to-date sales were down 22 percent to $618.8 million.
Jared’s quarterly sales rose 10 percent to $232.7 million. Year-to-date sales were down 24 percent to $546.6 million.
Kay Jewelers posted quarterly sales of $490.5 million, up 4 percent year-over-year. Year-to-date sales were down 27 percent to $1.15 billion.
Looking at its store count, Signet had 2,893 stores, 22 fewer than the previous third quarter and 315 fewer than the end of fiscal 2020. There will be 380 closures in total for the fiscal year.
As for the holiday season ahead, Signet said same-store sales were up 3 percent so far in the fourth quarter through Nov. 30.
The company has five times the shipping capacity it did last year in preparation for a rise in orders.
For the Thanksgiving weekend, same-store sales were down by low single digits due to weak retail store traffic, though it was somewhat offset by higher conversion rates, a shift to the digital platform, and higher transaction value.
However, the two weeks leading up to Christmas are the strongest for the company, said Signet, adding that same-store sales could be hurt by low traffic, COVID-19 social distancing capacity constraints, and store closures in response to the pandemic.
The company declined to provide financial guidance for the remainder of fiscal 2021 and said it believes the pandemic will have “a more significant negative effect” in December than November.
Signet will announce its holiday sales results Jan. 14, 2021.
More on Financials
The Latest
CollectionsMay 12, 2026
Jessica McCormack Debuts Antique Coin-Inspired Medallions for SummerThe 11-piece “Medallions” capsule collection features five motifs: a crying eye, a heart on fire, a spiral, a flower, and a swallow.
IndependentsMay 12, 2026
State of Retail: 6 Things Retailers Should Know About Consumers TodayFrom Gen Z’s view of luxury to “doom spending,” these are the six consumer trends to note this year.
Brought to you by
How Modern Training Is Becoming a Competitive Advantage for Jewelry RetailersWith the trade and customer trust in mind, GIA® developed NextGem™ – on-demand training designed specifically for retail.
Events & AwardsMay 12, 2026
The Tiffany & Co. x CFDA Jewelry Designer Award Is BackThe partners have announced the second cycle of the program, which has expanded to include a $25,000 student scholarship.
Weekly QuizMay 07, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
IndependentsMay 11, 2026
Kansas Jeweler Closing After 70 YearsThe owners of Staats Jewelers are heading into retirement.
TrendsMay 11, 2026
Former Macy’s CEO Joins Signet Jewelers BoardJeffrey Gennette, who retired in 2024 after 41 years with Macy’s, is the newest member of the jewelry retailer’s board of directors.
Brought to you by
Discover Timeless Treasures: A Showcase of Antique Jewelry & Timepieces in Las VegasGain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.
TrendsMay 11, 2026
Amanda’s Style File: Lucky May May babies are lucky to have emeralds, a gemstone admired for centuries, as their birthstone, writes Amanda Gizzi.
TechnologyMay 11, 2026
Clientbook’s New Tool Helps Jewelers Plan In-Store EventsThe new module allows retailers to plan, promote, and measure the success of events from a single dashboard.
Lab-GrownMay 08, 2026
NDC Publicly Criticizes Pandora Over ‘Misleading’ Natural Diamond ClaimsNDC said in an open letter that Pandora’s statements about the carbon footprint of lab grown versus natural diamonds are inaccurate.
SourcingMay 08, 2026
Ronnie VanderLinden Takes Over as WDC President The diamantaire and industry leader succeeds Feriel Zerouki and said he will focus on being a “champion” for natural diamonds.
TrendsMay 08, 2026
Rihanna Chooses ‘Desert Diamonds’ for 2026 Met GalaShe wore our Piece of the Week, Glenn Spiro’s “Old Moghul Golconda” earrings, featuring fancy brown-yellow diamonds totaling 51.90 carats.
Events & AwardsMay 08, 2026
JA Announces 2026 CASE Award WinnersTwo pieces were named “Best in Show,” one from the retail category and one from the supplier category.
AuctionsMay 07, 2026
‘Spectacular’ Kashmir Sapphire Headlines Heritage Spring Jewelry SaleLed by the 6.59-carat sapphire, the sale garnered $9.7 million, a record total for a Heritage jewelry auction.
MajorsMay 07, 2026
Gannon & Scott Names New Regional Account ExecutiveIn his new role, sales specialist Billy Welshoff will focus on the eastern United States.
WatchesMay 07, 2026
Chrono24 Names New CEOJosé Gaztelu has been promoted to the role, which has been vacant since last year.
Events & AwardsMay 07, 2026
JA Accepting Applications for 2026 Scholarship ProgramIt has also opened the application period for the Seymour & Evelyn Holtzman Bench Scholarship through June 30.
SourcingMay 06, 2026
Canada’s Oldest Diamond Mine Faces Uncertain FutureThe owner of the Ekati mine, which opened in 1998, has filed for insolvency protection amid the significant decline in diamond prices.
MajorsMay 06, 2026
Saks Global Begins Layoffs, Reorganization Plans Closer to ApprovalThe retailer will cut 16 percent of its corporate workforce as part of its plan to exit bankruptcy.
AuctionsMay 06, 2026
Steve McQueen’s Heuer Monaco Watch Heads to Sotheby'sOf the many examples used in the filming of “Le Mans,” this one is believed to have spent the most time on Steve McQueen’s wrist.
EditorsMay 05, 2026
This Ohio Designer’s Jewelry Made It to the Met GalaMegan Piccione dressed Lauren Wasser in layers of diamond jewelry, making her stand out in a crowd that included celebrities like Beyoncé.
SourcingMay 05, 2026
Doug Hucker Returns to His RootsFollowing decades of association leadership, the “semi-retired” colored gemstone expert is turning his focus to gemstone education.
Events & AwardsMay 05, 2026
AMNH to Showcase Famous Jewelry, Trophies in Sports HistoryThe museum’s new exhibition will feature one of Jesse Owen’s Olympic medals, Yogi Berra’s crown, Super Bowl rings, and more.
Events & AwardsMay 05, 2026
JIS Launches Brand Exposure ProgramThe new program provides access to media exposure and editorial opportunities for exhibitors and retailers.
CollectionsMay 04, 2026
Melanie Georgacopoulos Turns Pearls Into Light for ‘Eclipse’ CollectionThe “Eclipse” jewelry collection captures the fleeting moment where light and shadow align though onyx, diamonds, and freshwater pearls.
ColumnistsMay 04, 2026
The Key Mindset for Better Trade Show BuyingBuying discipline at trade shows starts with clarity about your inventory levels, Smith writes.
