Lab-Grown Diamond Jewelry Lifts Kay, Zales And Jared Sales By 6%
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“Lab-grown diamonds have flipped from a headwind to a tailwind for Signet, igniting an inflection in growth and earnings,” wrote Jefferies Randal Konik. getty Signet Jewelers is entering its vital fourth quarter with spring in its step, as it modestly elevated year-end guidance to between $6.7 and $6.83 billion in sales and adjusted operating income from $465 to $515 million. Last year, net sales were $6.7 million and operating income was $498 million. Building Signet’s confidence is strong 6% same-store sales growth in the third quarter for its three largest brands—Kay Jewelers, Zales, and Jared—and growing customer demand to trade up to fashion jewelry set with lab-grown diamond stones, replacing lower-priced, non-stone selections. With lab-grown diamonds and their attractive pricing relative to natural diamonds already commanding about 40% of Signet’s bridal jewelry sales, it sees tremendous upside potential for fashion jewelry set with LGDs in key gifting price points under $500 and under $1,000 this holiday season. Holiday sales peak for Signet in the last ten days before Christmas. “Our balanced diamond assortment strategy, alongside ongoing stabilization in diamond retail prices, is driving growth and expanded average retails in both bridal and fashion,” CEO J.K. Symanck said in a statement. “Looking forward, we believe we are well positioned for the holiday season with a focused assortment in key categories and price points.” Three Quarters Of Growth Coming off a challenging fourth quarter last year with net sales down nearly 6%—performance was hampered by the extra 53rd week comparative and inventory shortages in key gifting price points—Signet has enjoyed three consecutive quarters of positive growth this year. Third quarter sales of $1.4 billion were up 3.1% over previous year, following a 2% increase first quarter and 3% in the second. Third quarter fiscal 2026 ended on November 1. Overall, third quarter…
