By Janet H. Cho

Signet Jewelry stock could shine brighter with Valentine's Day spending expected to hit a record $29.1 billion, including $7 billion on jewelry purchases.

Signet, based in Hamilton, Bermuda, is the U.S.'s largest publicly traded specialty jewelry retailer, with about 2,600 stores under brands including Kay Jewelers, Zales, Jared, Banter by Piercing Pagoda, Diamonds Direct, and Blue Nile.

Jewelry is expected to be the largest chunk of this year's Valentine's Day spending, according to National Retail Federation's annual survey conducted by Prosper Insights & Analytics. Another $6.3 billion is projected to be spent on an evening out, $3.5 billion on clothing, and $3.1 billion on flowers.

Last year, jewelry spending was estimated around $6.5 billion.

Signet's stock is up 7.8% year to date and 69.5% over the past year. The retailer is thriving while the broader jewelry industry faces obstacles, including waning demand for diamond jewelry, increased interest in cheaper lab-grown diamonds, and reduced consumption by affluent Chinese consumers.

Mining giant Anglo American is struggling to sell its De Beers mining business despite taking a $2.9 billion write-down last year and $1.6 billion charge in 2024. It said last week that it might consider taking a third write-down this year. Anglo American CEO Duncan Wanblad said last week that the separation of De Beers is "progressing."

Still, Signet on Dec. 2 raised its guidance for the fiscal 2026 year that includes Valentine's Day, saying it expects sales of $6.70 billion to $6.83 billion, up from $6.67 billion to $6.82 billion previously. It forecasts earnings of $8.43 to $9.59 a share, from $8.04 to $9.57 previously.

CEO J.K. Symancyk told the Raymond James TMT and Consumer Conference on Dec. 9 that that Signet's business is about 50% fashion jewelry and about 50% bridal and engagement, according to a transcript.

Symancyk elaborated what he told Barron's last June, about Signet tailoring its 11 brands to cater to different customer demographics, such as Kay Jewelers for engagements and milestone jewelry, disproportionately bought by men. Jared's target customer, meanwhile, is "a little more affluent, a little more established," and more open to higher price points and more natural diamonds and timepieces. "Zales leans a little bit more diverse, but also leans a little bit more female, " with buyers thinking about rounding out their wardrobes.

Symancyk said that when Signet gets asked about diamonds, "it's often pitched as a sort of lab versus natural. I think that's probably the wrong way to think about it. They're both part of the assortment... the same way gold and silver are. ... We believe both are vital, both are points of strength."

Write to Janet H. Cho at janet.cho@dowjones.com

This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.

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February 13, 2026 01:30 ET (06:30 GMT)

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