SIG - Earnings call transcript Q2 2025 | Signet Jewelers Limited

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Operator

Good morning, and welcome to the Signet Jewelers Second Quarter Fiscal 2025 Earnings Call. [Operator Instructions] Please note, this event is being recorded.

Joining us on the call today are Rob Ballew, Senior Vice President of Investor Relations; Gina Drosos, Chief Executive Officer; and Joan Hilson, Chief Financial Strategy and Services Officer.

At this time, I would like to turn this conference over to Mr. President Relations. Vice Senior Ballew, of Investor Rob Please sir. go ahead,

Robert Ballew

to Jewelers morning. Fiscal 'XX Good Quarter Earnings Signet Second Welcome Conference Call.

quarterly During forward-looking language disclosures statements. you to as reports historical will on and results may make other that uncertainties. in by the on We information XX-Q light Form our annual no reports risks we Except report of to events. not and or forward-looking undertake urge materially. Form we of subject facts XX-K, today's X-K. are are risk revise publicly Actual number and required read on law, differ current new to Any statements future discussion, Form obligation or statements a update certain factors, cautionary in

we financial non-GAAP call, the measures. certain discuss will During

the a the For to measures investors our at we most as financial non-GAAP the website of further non-GAAP should measures discussion release measures, reconciliation GAAP financial well of on review directly comparable the posted news as ir.signetjewelers.com.

With that, call Gina. to over I'll turn the

Virginia Drosos

everyone. good start quarter our another thank team Rob, sales Signet and quarter. first to delivering I'd sequential third and the like an for to same-store improvement encouraging of Thanks, morning,

to greatest knowledgeable, That's dedicated Our when and empowered to our competitive you the is members. our the X and leave chance like success. with today. have we our team than at to tangible the never of impact key clear abundantly key time, more advantage me earnings to takeaways I'd see team

to in top momentum acceleration expectations. and quarter, largest by than points is our first delivered COVID. of X trough merchandise X continue improvement results innovative caused This Engagement led and to more more improvement new by as the see higher by fifth consecutive than same-store sales levels Fashion emerge we both from First, the sales of the from same-store in we've quarter years, driven in the of sequential improving sales, we half strong the deliver

merchandise merchandise time margin grew drive or as value our a we dynamic the and for ATV to continues in Second, strategy industry. transaction average performance

deliver guidance, fiscal third same-store 'XX Third, are Engagement momentum growing. now sales on carried track to QX we has on with units turning positive quarter-to-date into our and our

these improved low Let's in by Same-store an each and continued to Services. second detail. in also in in a quarter, sales the single-digit with Bridal of go acceleration decline Fashion, in but strength into improvement led

points This strong the I quarter, As mentioned continue macro is XX% proven second innovative customers. In of In from to last for led broad-based as in environments, core strategy merchandise response largest by Zales X a revenue we Fashion, on banners, pieces. from all and quarter, our sequentially delivered in ago. a focus XX% been there's up this we new, tougher new which this trend X from Jared, our and a in us improved banners, comprised on-trend Kay. quarter, was a and sales banners increase year

August we fact, delivered in sales same-store positive and July, In September-to-date. Fashion

expect trend head of the we key year, season As this gifting to the continue. we toward

maintaining while and to positioned our merchandise be We a grow well penetration merchandise inventory as new our our advantage. nimble competitive to ability are assortment We real further our discipline. of see manage

the to our jewelers, fast we more independent to points. turn new data, consumers, great price as inventory right products at compared Xx of When roughly industry which frequency as means

at is Fashion driver year allows than Diamond quarter XX% and points. that Our innovation attractive chunky Lab Jewelry provide up in last Fashion us includes looks in to continues a more to grow, price ATV. to of the big sculpted gold

diamond to our pieces in also our advance also Bridal Lhuillier. launching branding Beers Neil natural proprietary and the ATV, third several De quarter. We're collections marketing, designs traction new watches leveraging merchandise Citizen We're by aiding new led branded training, natural Monique Lane and diamond seeing in in led Chosen, partnership Further, from by and jewelry is consultant Bulova.

source for be X.X% like basis Services and on strong attachment attachment traction of the ESA. points, in strength ESA post-repair a up Signet, led continues in service quarter, growing by rates Engagement XXX to agreement new early with or products extended

Importantly, the merchandise both Fashion attachment well in Bridal Lab-Diamond rate on is and above jewelry categories. other

of has same-store every be Engagements The also as by Engagements Merchandise past basis. improved particularly in continue sales for sales Services made XX quarter to same-store the a the tailwind approximately points on improve grown the will XXX outpacing basis quarter X as back by Merchandise important points. we've the over an revenue years, half in second increase. year, progress

get ago. to last happening. Engagement we've get least to engaged, As XXX at of years a where now months, XX milestones, than for higher we points up is highest highly is and tracking began likely Engagement the proprietary engaged, milestones of significantly become now are these rings predicted, they Engagement basis recent the couples ready couples few our achieving searches year recovery number Google Instagram since and in seen

approaching the environment, engagement Based well levels. the way on confidence third in said, and and multiyear the to holidays positioned season in we we're recovery cautious indicators these over more leading have That slowing the quarter-to-date, back recovery. Engagement this for macro Engagement seen we've customers unit growth engagement pre-pandemic that separately, the positive upcoming a are peak

ago our visiting a than making are before sites XX% customers year more purchase. often a example, For

as our expect pieces, custom API ahead improvement making been improvements for the first in XXX compared experience, We points also to updated We're Digital Our expanded communication the season. assortment. our now more sales steady merchandise have Banners to of the website to third vendor further the and majority we've new customer real-time basis we significantly with same-store progress sequential quarter. the quarter into saw more and holiday of connections be we vendor improvement connections has of facilitating corrected,

is industry both margin promotional merchandise grew My pressure. ATV takeaway today second that and we despite

strategic value while value at right balance pressure on long-term working balancing price Our the loose diamonds. is competitive the market to merchandise offset This margins right deliver share, and to diamonds. strategy natural is products of

For ATV nearly second was America example, North in Bridal the flat quarter.

mid ATV quarter in margins. drove up helped Further, America our second merchandise single-digits merchandise innovation expand Fashion the North and

We fleet training Wi-Fi are experience. additional for the improve of further storefronts, consultants, as enhanced the rollout holiday across to of well as digital our jewelry store customer shopping investing than This ahead personalized renovations. includes more XXX

and of invested most relevant personalize delivering At second we're leveraging capability in XXX including our renovating In of curate assortment, to products. increasingly self-learning double-digits stores we've ATV over quarter. Jared, up-tiering data to features, on nearly year. search which Kay, we're this will listings the At our marketing, the messaging. fleet the both up and and the Fashion digital, AI number a results we're new launching In websites in

over the year price This of these believe decreases banner combination has We tight net wide-scale advantage incremental drive availability investments all strategy in merchandise Since holidays. Signet. sales a been XXXX, and will for competitive ongoing merchandise have in our In our quarter Diamonds and across driven seen margins, fiscal and strengths XXXX strategy We've takeaway our diamond my on period, an been growth, is time on both with third sales this Lab in and on-trend story. and ATV second final in longer same-store to expertise. The merchandise, this merchandise remains new environment. by and we the that delivered right our we on to promotions expectations. with progression the believe value, track deliver me in strong of This guide. are and the navigate focused branding our sourcing, to we leads dynamic playbook have track the and shape consumer

guide. confidence achieve to Our by our the supported also is multiple ways

drive operating half current the year in half provided continued to expect in sequential operations flexible range. to continue to we sales promotional is Engagement not increase deliver will second and target leading upto help merchandise while to positive improvement of continue of the These our new And for million. it's would units savings efforts cost go model the to of back year. We the our $XXX believe within streamline Further, balance the environment we both Fashion as our continued strong our categories, savings pace maintaining we into sales. us simply our the assortment will required, expect year, and

We're also are the margins and track continues on we sales We're year. $XXX successfully positive. target increasing same-store to turned our progress $XXX has deliver X-year from ATV, and summary, managing our savings to million. In million and

Joan. With turn to it that, over I'll

Joan Hilson

week quarter QX normalize gap related is of we the this XXrd Thanks, down early in the shifted X.X% year, QX, to shopping total Revenue were same-store good for Digital last everyone. to Banners morning, basis gap down billion, Gina, the Same-store reflects sales between and X.X%, from Mother's quarter as to the XXX of sales half sales the points. year. expect was Day from and year. it $X.X our The larger last approximately same-store drag back to continued the and revenue

newness, quarter, effectively North Fashion America push is strategy a we expanding also that up accelerated our was ATV as merchandise this X.X% margin. into

flat Fashion this revenue. up was and ATV of ATV single-digits. despite million lower up XX Importantly, to year sales Bridal was of We margin XX% basis delivered gross quarter, points or last $XXX nearly mid

cost at continued offsetting merchandise deleverage. basis strength drove fully strength products and a a of fixed points, new The penetration XXX higher of higher margins, Services margin Fashion of expansion

to quarter market in the $X.XX, down as amendment Expense shares for $XX operating higher open higher or than the a of X.X% count expense. basis interest sales was million Adjusted XXX and EPS Turning as retirement sales. revenue down by to modestly the for income $XX.X from the the less to million to million was quarter and due share and lower SG&A. convertible SG&A points of decline preferred Adjusted $XXX repurchases. operating deleveraged well share income was due for XX.X% the to marketing quarter. income of

during evaluation the result non-cash a primarily of impairment integration engagement of factors time banners, and took As frame annual impacting the the of our our were charges we trade second result a digital and quarter which $XXX recovery. goodwill names, included million lengthened of slower that

Banners. a a over-indexed may you Bridal diamonds, engagement quarter and Digital operating recovery impacts Signet Lab-Created loss caused on from to pricing material has into for more declines strongly Banners degree, a GAAP as basis. on Digital and a Diamond compared in to loose that This whole. This impact our charge slower the means and, the market EPS recall, negative lesser the As our an

half, Digital QX, further to sales we improvement Banners improvement on delivered mentioned quarter-to-date same-store our X-point As a back and earlier, in trends. the based expect

quarter than the more ended We below to $X down inventory. billion, X% just at last to year. Turning

approximately in banners, a compared to of plan new X New we up XX% more inventory higher penetration drive to to We of continue ago. head our core as points holiday. than product into year comprises merchandise

the in be the for pace at buying approximately quarter, of price. shares the take customers to a share this share value-focused $XX second XXX,XXX wide year, newness increased in and of We range advantage price million of believe our pullback will points. provides We the assortment repurchases nearly

repurchases the We continue and second share with of multiyear remaining over quarter $XXX ended capital attractive to our see use as authorization. in an million

retirement $X.X quarter. a As reminder, which million the of allocating open second and are share through repurchases over to shares billion we of in redemption executed preferred 'XX, the of debt, market fiscal already up $XXX common we've to

will share actions reduce on also over annualized profile. improve an these diluted our Importantly, our and basis by count XX% leverage

also Turning similar balance terms attractive X-year existing recently reduced sheet. a inventory our few associated now savings at undrawn which provide last to to now secured We The to as extension next to the ABL significantly balance. as liquidity billion years X was facility, to for our years. the the provides fees our ABL $X.X in well with lower our lower to on to align base

Looking pleased pricing, to in and agility new to sourcing quarter, on our competitive balancing deliver merchandise, we savings expectations. second are our the guidance, with

cost a We in provides this, back year. this the continue savings of with strategy in competitive will additional combined our believe environment. flexibility We the half

Turning to third the quarter.

of between revenue in $X.XXX $X.XX same-store the to expect with to up billion, We down X% range billion X.X%. sales

million $XX adjusted and million between to million. million income operating $X expect $XX between $XX and EBITDA We adjusted

sales in for quarter-to-date quarter. same-store turned have through is our half while cushion the past of variability Our the low-end positive, provides throughout guide, some reflected upper this weekend which the

into the shift the expected in of modestly upcoming in the to marketing somewhat, is spend third with election. rate deleveraging quarter ahead the part margin due Gross quarter of to expand SG&A

our path near the middle the for of reaffirming expectations. are operating are deliver the expect We on guidance year. adjusted We of margin our our range range rate now or to revenue and low-end near better

consumer up meet the engagements to X% inventory for within range have we flexibility of year. a Importantly, down X% for to demand

recent view to compared In expected trends. prior addition, roughly year, X%. of of nearly expected is based Digital be impact is materially sales Fashion our on negative Banner down of be less a now impact to performance better this down to also The X% at

$XXX to million real $XXX estate spend to our investments in expect million to capital continue also We track. with in on expenditures

for seeing our Before each like the in we Signet business. momentum thank continue go their are inspired I to passion let's our team now be move our customers questions. by Q&A, to we and and to to I'd on commitment to other. Operator,

Operator

question of Our Instructions] Ike the from comes Boruchow [Operator Wells first from line Fargo.

Irwin Boruchow

Question for margin gross line. on the me

consistent in to the remain into half from modestly in third margin up or believe the the margins around there the merch up reason Joan quarter, had less should So the trajectory would you've X just back comps for I second quarters improve? as the XXX Gina. merch there and first offsets then deleverage question, Is And the be year. of maybe that bps guess,

some your volume comp us you It's probably variables kind thoughts makes give just any to us, do. you don't obviously, could breaks of out it year, you -- on much point expectations given the Can it's helpful. holiday or know can around if guardrails give how guys the Just that would us specifically. whether you there's I exactly what are, other be some

Joan Hilson

of Thanks, year. Ike, questions. the to the there's within And drive penetration mentioned, With as that respect back into assortment. a half we the inventory increase continue of gross Fashion push to our margin, to newness the I for

that margin So is expansion is us. for what driving the

We single-digits. second up was the said quarter Fashion in flat Bridal and mid ATV was

expect we margin us really to Fashion that So level. at a continue see the margin providing for expansion to merchandise

to year. in Services We will half of amplify continue drive the the back and

rate Bridal increase. has we're seeing increasing units And as notably, the attachment Bridal been

store in XX into we're I over And would penetration third looking say XX% up attachment increasing. And Fashion that -- is quarter. so the as also now and our is the rate

components expect providing expansion to provide is continue those us So the in that of also the half margin expansion. year. would the margin we And back to for

we better, back you us, quarters expect said, to enables can what our holiday, guidance see be as the what or mid-point, the -- With quarter thinking I at the respect to and is. about the third range for top-line

And with Bridal the so very for that's in for lined assortment assortment, amount is the the Bridal. in the we're also up half, pleased we that newness back of coming have

So expect continue. the -- Engagement to we and recovery

So engagements also very bear holiday in for December important critical mind, that, a is head that period. we and the selling like, and as -- into timing

the strong we're And Engagement So that we're response. assortments seeing we believe we're happen. our -- recovery a is strong. seeing

slower, customer it's cautious, Although, as Gina visit we more they rate XX% before than higher The mentioned, a make visiting bit little purchase. had actually is anticipated. -- the

So considered your it. all see fourth we important. of prepared that for we're is to within point, quarter that our guidance. But And is

Irwin Boruchow

Got at Can that worsening? would kind probably us of too. spoke it. you then the Juts, How give was anything be X just call kind promo competitions, last high on a where update the later? go of kind of the going flat helpful margin. Is what of to about just a was out? months that lot length Is that about an conference talk improving? on Is the And there just it guys playing at to gross you it lining, that. back environment, is level,

Joan Hilson

and Well, guidance, in of dynamic. we the competitive pacing strong to are we particularly that that prepared remain our the we strategy margins, with environment will the balanced is flexibility promotions have Fashion, within the guidance such as in continue newness our meet Ike, to included for idea with -- competitive will And at promotion. and of

be in will quarter of the we that year. we So components the leveraging balance did second for the same the

Operator

from question next Paul Citi. Lejuez the line from Our of comes

Paul Lejuez

within hit sales quarter-to-date? that XQ have units units it guess, And you Engagement Engagement what I and running to the curious Can down. X% you year? up the still plus say see to then for sounds quarter-to-date, are being And like what are in year-to-date do

versus talk you when can maybe to year? average ticket looks last specifically So like it in how about and Lab. average that the ticket you specifically engagement compare Naturals

Virginia Drosos

don't jump Sure. Paul. in. Why that? can you Joan, on And I start then

just guidance track fiscal was this our happening. throughout remarks, our as to Engagement we the units, of continue will is now guide. But that to pace through that that terms in where indicates just of we're if for year. to the doesn't in other growth would need think that, flattens recovery deliver still year, data is, it we deliver. And In order of right within continues all we unit and accelerate I said the us in Joan the saying, words, prepared seeing that our

that engines them. So we track. external different as across that search milestones at, like the highest as searches that proprietary we've everything see seen that we're are looking Those at their data we well

to year number ready versus So engaged. couples last up points XXX in get terms basis of of

a don't have order good to see we but to on in we achieve tailwind So that our Engagements, guide. have

then asked question a you also And about LCD.

to to had customers since We have up And in strategy a have continued if interested we that. LCD. do trade beginning they're

see So in higher attachment ESA a pieces higher do LCD LCD ATV a on see we result. rate actually on than we a as of natural. We

in we're worked hard across of to innovation maintain diamonds. a also context, So natural very great diamonds. our And seeing value on strong team that has lot come

we're availability. opportunity think that where in but value cheaper, very are they that over understand uniqueness context seem been difference. the potentially and understand they up and the consumers more point have time, specialness They with to because that to that's understand there's of able getting LCD, has I the a natural trade interested diamonds to to an it's have and

Paul Lejuez

would Got of follow consistent end X% with the just then? guidance it. be up high to that plus the the year, And for with

Joan Hilson

hit now. our running X% a guide, Bridal. plus would Fashion positively think have X% scenarios in overall we a Paul, right Gina's of to I high comments, you of end When Yes. earlier units the say, it's range, But to to guidance several minus there's

positive. units running Bridal have We

end high the the has one Bridal. units of of of but combinations So X% there's those end for combination outcomes to guide, a at plus high deliver

Paul Lejuez

the right. that sorry, And X%? do quarter And, get do what then to need you to fourth in plus to

Joan Hilson

-- on in is that quarter trajectory And in get the to quarter-to-date high the the we're up would high importantly, of end double-digit we're single-digit, in toward be is low guide. fourth Bridal. running quarter that The shows the to today units units third Bridal that

us. it's So for trend positive a

Paul Lejuez

luck. Thank Good you, guys.

Joan Hilson

Thank you.

Operator

from next the Hutchinson from Lorraine question America. Bank comes Our of of line

Lorraine Maikis

from your I'd customers the Has Fashion? the different changed it's an perception prices hear if Lab-Created-Diamond hearing feedback in as option? of curious and that you're volatility Bridal between just be and customers' to

Virginia Drosos

the Lorraine, for thanks question.

interesting of lab-created tend phenomenon, I So as we a it's to the of available been broadly kind XXXX. is jewelry think thing new but think since in

So consumers point-in-time of Diamond has Lab way a trade-up the to opportunity what time but over have. is that have in the dropping they the diamond a been have that that lab that are They're same that And seeing a we're story story period. they its I to hold -- understanding that. value pricing created, with natural don't consistent that believe over larger diamonds it necessarily expectation potentially seeing will traditionally time

educated difference. our what the somewhat different, do think is at So I over about and is would that's it time more somewhat that research Engagement least different think jewelry is that consultants And Fashion. seeing it consumer we're and a in I our indicate

would bling the to have really So that, to Fashion to where LCD too offers been chance previously. do expensive add it pieces

continued to we ATVs So LCD. to see Fashion higher opportunity using trade-up in

Operator

Jim question Northcoast the comes Research. next Sanderson of line from Our from

James Sanderson

more little a about marketing bit talk to spending. wanted Just

anticipation you holidays. starting that time? of an can the you on are an drive back of near-term budget this mentioned Is and quarter current into a just point something traffic? to how how to lean But could that at acceleration be should see expect you line dollar Is might foot that marketing give we look stronger you an think to us step in item? that investment over idea grow I you operating in as income, -- that pressure

Virginia Drosos

Sure. our see advantage marketing real we as for a of Jim, area competitive company.

of biggest different jewelry in We banners. our away the across and are all far category the spender

data that, Google create to that we that's working partners, bring a of more can as our our who match with us whether great of personalized Meta so all to agencies create And or and partnerships data result use we, loyalty or with our marketing. are

in we've leaning investments So into been marketing.

more gosh, winning I more And for, these to continued spent or banners to we've because as transformation our what each drive think, time since traffic it see and our sense. began brand more brands. of stands more great to differentiating just opportunity a we've makes

the a ago, we're I I of think now while might We end the banners of of talked year, that positioned couple have of to as jewelry customers. fact have category. last XX% it to jewelry appeal been of about our calls the X% share

headwind communicate customers. really lot that we it's headroom, is different I'm how our of see or sorry, what our So to a value as proposition to and

question dollars drive into So in I differentiating capability our brand both answer think to leaning time is, marketing and been and that your big to drive picture traffic behind we've really investing the and of our those online. to yes, equities banners over into and media stores

Joan Hilson

both Jim, to Sorry, do we've in expect. the in for to the we both question And a deleverage dollars as reported of we the just dollars. regarding quarter that part expect third said second year. We -- [indiscernible] be the and that see SG&A would quarter, the spend dimension as up

James Sanderson

growth? grow years? I'm to the broader And Or then So think what line see brand though, tandem expect that's at. awareness getting that really I some revenue several investment do that item would going something Understood. with think you should next of in to is drive we over forward,

Joan Hilson

our Gina investment, said, to capabilities spend. The to in-store. would in clearly, as business. And to speak, and for Yes. to And that investment, online, efficiencies we it the building, we foot-traffic while within refined of personalized driving so investment But efficiencies expect in. build continue and that and us to those all an drive as is we're doing marketing we algorithms continue we're work expect our our Jim, would

James Sanderson

Understood.

follow-up what date? lab-grown a on to you category. mix update the on is Could us quick Just Lab-Grown-Diamond How that's your changed?

Joan Hilson

higher, roughly get It's from terms then we a about when single-digit is -- So alone, a think I penetration. the mix think to growing a it's mid to it diamond lab-grown. mid-teens. similarly sales is bit penetration up of but like in terms growing of in And total

Operator

the next Serna Mauricio Our comes line of question from from UBS.

Mauricio Serna Vega

total more could revenues for think are about I want get to I'm scenario a about trying like of seeing guidance just third what a high just would the and low in to the understand takes the quarter. Just bit you quarter, If what particular maybe guess, are little -- be guys to want implied single-digit fourth guidance -- on end but the just for like talk I that puts thinking decline the I the for range, you margins. that be? to conservative, have I like another follow-up I then scenario? And quick for

Joan Hilson

Yes.

For assumed low earlier. we it we units single-digits. mentioned end direction, Fashion also of low the be down end low X%, In to that guide, as you're could kind on Mauricio, could the down directing Engagement be of

we're So high trend our range, don't the that need current need don't we as stay within do guidance than better -- to seeing. to see the we

response low- with newness to what feel QX-to-date we towards really related to seeing So that, the and of in we're we're to margin to -- at the that EBIT. positioned seeing the midpoint have squarely better or on revenue middle-end well it's be on the guidance we guidance the and we're as as that expansion

the year. into trajectory and that might feel we our solid business half the of really So we flexibility and that the guidance of variability promotion factored on see around across the the the back

also on that in upto delivering That flexibility we've us savings outlined, margins. our gives $XXX we've increased to million. cost the So again

Mauricio Serna Vega

does on just the I think, margin, And then just points. quick on fourth it. year-over-year basis like actually, expansion it over a doing margin side, follow-up the imply like quarter numbers operating XXX again, at the Got a

that margin that like single-, good where like like contemplated SG&A dollars from? Just are Just what understand really be trying is acceleration, to fourth that really going double-digits? down is quarter? gross to Is high into understand better coming to low trying

Joan Hilson

Yes. We'll margin cost. expansion you is a Services. mentioned, of the will we SG&A the we see quarter. to naturally have you'll come comps penetration would third And see the drive from both Services fixed in highlight Fashion as that that within a positive continue expand are and what to quarter. deleveraged I've And And I recovery, and help leveraging second that Engagement as with for can also higher in you

tools as help of So in services in on our help consistent leverage newness on have the fixed offset leverage positive us it's or well the we factored consistent us pricing that are to Those as well the drive that in we cost the comp components. leverage competitive as our as to base.

Mauricio Serna Vega

it. was the standpoint? XXrd that how to And in Got that an SG&A from have mind? -- in Just dollar much bear mind week

Joan Hilson

off of -- to don't the I have We'll have top that head. my

get on we'll So back to you that, Mauricio.

Operator

Our question Group. from comes Dana from the Telsey line Telsey of next

Dana Telsey

that during like in whether it's last As physical of of what Digital sounds banner? Banners, you side, estate, just the an the you meaningful. be margin think to Is or -- about think are Banner I the terms Services margins? How And increasing it quarter, you the what And real also, you estate a did performance improvement terms real now? to see margins -- had follow-up on then get is Digital the in margin seeing can and some that of continues quarter of up the on XXX points. to location contribution you basis

Joan Hilson

So the X down point move the [ it we've it terms to Digital impact of in comp indicated Banners improvement that back seeing past of in of we're half the a having ], and year. in the X% negative -- was

top-line improvement to some well some the or of helping Banners. Digital for a of fixed in us That's sequential XXX costs. leverage basis offset So the costs as point the fixed

it's point. at margin slight albeit, So this expansion, we're seeing Dana, bottom-line

Gina integration of Banners, but also drive -- adding that Fashion the we'll top-line. some as Digital to -- importantly, drive new well. the continue drive The we to we're as adding are have But we the respect we so their finished which continue we And will and margin products products, remarks to fixed API there vendors. in in with expansion gross and is mentioned her efficiencies keep itself as majority

for has has help we'll look team testing performance the made, respect anticipation with banner. banner a for positioned. were that on that we've -- So real that relative -- seeing the done e-commerce the that into strategic improved With and We're the that we Zales Digital it's we see fourth the stores -- more traffic, as coming stores and the estate, that believe really overall of we've pleased we've we it's we banner. see are of lift We're that e-commerce an and completed to we'll nice the as quarter to drive a relatively business. already by move the flat, top based into complete to see of of was quarter. the our heading helpful, been important, Fashion the and We product into banner that that the stores renovating holiday. on line balance well that And in influx overall,

Operator

this further Drosos I'd the at like to final to turn closing over There for no questions call now Ms. back time. are comments.

Virginia Drosos

one business. everyone. momentum Their you, execution started call to with competitive is same I'd and key experienced, highlighting this in thank Well, are I dedicated accelerating like our the to we today, of the the knowledgeable a We that but the called advantages out delivering end morning, team. number

in today, joining So call December. thank forward you and look our speaking we again all to to you all for

Operator

for Thank for participating disconnect you, lines. a call your this you and Have ma'am. you lovely and please gentlemen, Ladies ask conference that your thank concludes day. We today.

Signet Jewelers Limited (SIG) 12 Sep 242025 Q2 Earnings call transcript