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Signet Jewelers Limited (NYSE:SIG ) Q2 2024 Earnings Call Transcript August 31, 2023 8:30 AM ET Company Participants Rob Ballew - SVP of IR Gina Drosos - CEO Joan Hilson - Chief Financial, Strategy and Services Officer Conference Call Participants Ike Boruchow - Wells Fargo Lorraine Hutchinson - Bank of America Brandon Cheatham - Citi Mauricio Serna - UBS Jim Sanderson - Northcoast Research Dana Telsey - Telsey Group Operator Good morning, ladies and gentlemen, and welcome to the Signet Jewelers Q2 Earnings Conference Call. At this time all lines are in a listen-only mode.
Signet reported declining revenue and earnings but still topped estimates. The company raised its full-year guidance slightly on the bottom line.
Shares of Signet Jewelers Ltd. rallied Thursday after the jewelry retailer, which has store brands including Kay Jewelers, Zales, Jared and Blue Nile, raised its full-year profit outlook, citing signs that the number of couples getting engaged will start increasing in the coming months.
Signet Jewelers Limited (NYSE:SIG) is upping its earnings guidance for full year 2023 after beating second quarter estimates on strong demand for its jewelry. The firm reported an adjusted EPS of $1.55, which beat estimates by nearly $0.10, as sales for the quarter reached $1.61 billion, also ahead of the estimated $1.58 billion expected by analysts.
Signet (SIG) came out with quarterly earnings of $1.55 per share, beating the Zacks Consensus Estimate of $1.34 per share. This compares to earnings of $2.68 per share a year ago.
The company raises its guidance and anticipates betrothals will heat up again after a lull.
BHLB, SIG and NYMT have been added to the Zacks Rank #5 (Strong Sell) List on August 3, 2023.
Signet (SIG) announces the extended rollout of a fine jewelry rental program for special occasions and weddings.
SK Signet told Reuters on Friday that it has signed a deal to supply 1,000 electric vehicle chargers to Francis Energy, in a move to tap federal funding on charging stations nationwide.
Signet (SIG) continues to benefit from its solid digital efforts. SIG's Inspiring Brilliance growth strategy appears impressive as well.