Signet Jewelers conducted its earnings call for the quarter ending December 31, 2024, on March 19, 2025, at 8:30 a.m. Eastern Time. The call featured key figures such as Rob Ballew, Senior Vice President of Investor Relations, J.K. Symancyk, Chief Executive Officer, and Joan Hilson, Chief Operating and Financial Officer.
During the prepared remarks, the operator introduced the event, noting it was recorded. Rob Ballew kicked off the discussion by mentioning the subject of forward-looking statements, which are not guarantees of future performance and are subject to risks and uncertainties. He emphasized the importance of reviewing the company’s annual and quarterly reports for further details on these risks.
J.K. Symancyk then praised his team for their efforts in achieving positive same-store sales, particularly over Valentine’s Day. He provided an overview of recent performance, noting bridal and services met expectations, although fashion items underperformed before Christmas. He highlighted a strategic focus on addressing inventory gaps and expanding on-trend merchandise to improve future sales for key gifting seasons.
Symancyk outlined a new strategy named “Grow Brand Love,” aimed at transformative growth, driven by product innovation, experience creation, and brand loyalty. This plan shifts focus from a banner mindset to a brand-centric approach, leveraging brand loyalty across major brands like Kay, Zales, and Jared. Symancyk elaborated on strategic pivots, including a revised operating model and real estate portfolio, and emphasized the importance of differentiating each brand’s identity.
An update from Joan Hilson detailed the financial performance, highlighting a 6% revenue decrease year-over-year but noted improvements in same-store sales and merchandise average unit retail (AUR). The financial strategy focuses on inventory management and maximizing future sales and profit growth. She explained the strategy for maximizing pricing through centralized sourcing and highlighted the planned store closings.
The Q&A session included questions from various analysts, focusing on strategic shifts between bridal and fashion segments, guidance projections, and the implications of lab-grown diamonds on the business. Symancyk reiterated the need for alignment across various strategies to enhance customer engagement and drive market share.
Joan Hilson provided insights on financial guidance, articulating conservative estimates given the current consumer environment and potential variability in consumer spending throughout the year. She assured that inventory discipline and reported tax management are key components of their financial plan.
In closing remarks, J.K. Symancyk reinforced the strategy’s focus on growth and shareholder value, expressing confidence in the company’s potential and readiness to update stakeholders on future advancements.
