Signet's stock at last check rocketed 15% to $8.46 after the Hamilton, Bermuda, retailer reported adjusted diluted earnings per share of $3.67 for the quarter ended Feb. 1.
That came in higher than analysts' consensus estimate of earnings of $3.47 a share for the quarter.
Signet also reported somewhat better than expected revenue as well, hitting $2.15 billion compared with the analyst estimate of $2.12 billion.
Signet reported a same-store-sales rise of 2.3% for the quarter, with this key metric up 2.9% for its stores in North America.
Still, the latest results don't reflect the coronavirus-driven economic turmoil that has slammed Signet and companies worldwide over the past two months.
Signet earlier this week temporarily closed all its North American stores in response to the coronavirus pandemic.
In the United States as of Thursday, more than 65,000 people have been infected and 930 have died.
Signet has said it will not be able to provide guidance for its fiscal 2021.
The jewelry giant recently said it would be borrowing $900 million from its revolving credit line, raising its cash stockpile to $1.2 billion. Signet said it also had $292 million still available on the asset-based revolving credit line.
Signet has also decided not to pay out any dividends to common-share holder for the current quarter, which ends May 1, while making in-kind payments to owners of its preference shares.