Why Signet Jewelers Stock Jumped Today

Why Signet Jewelers Stock Jumped Today

Shares of Signet Jewelers (NYSE: SIG) were up 20% at 11:13 a.m. ET on Tuesday after the company reported better-than-expected earnings results for the third quarter. It's encouraging to see Signet post a sales increase of 4.2% year over year, excluding currency changes, especially given inflation and other macroeconomic headwinds. Adjusted operating profit was cut nearly in half to $58 million, although Signet is operating in a much better position than before the pandemic, when the company was less profitable.