Signet Jewelers (SIG) Q4 2025 Earnings Call Transcript

Signet Jewelers (SIG 17.50%)
Q4 2025 Earnings Call
Mar 19, 2025, 8:30 a.m. ET

Contents:

• Prepared Remarks
• Questions and Answers
• Call Participants

Prepared Remarks:

Operator

Good morning and welcome to the Signet Jewelers fourth quarter fiscal 2025 earnings call. Please note that this event is being recorded. Joining us today on the call are Rob Ballew, senior vice president of investor relations; J.K. Symancyk, chief executive officer; Joan Hilson, chief operating and financial officer.

At this time, I would like to turn the call over to Rob. Please go ahead.

Rob Ballew — Senior Vice President, Investor Relations

Good morning. Welcome to Signet Jewelers fourth quarter fiscal ’25 earnings conference call. During today’s discussion, we will make certain forward-looking statements. Any statements that are not historical facts are subject to a number of risks and uncertainties.

Actual results may differ materially. We urge you to read the risk factors, cautionary language, and other disclosures in our annual report on Form 10-K, quarterly reports on Form 10-Q, and current reports on Form 8-K. Except as required by law, we undertake no obligation to revise or publicly update forward-looking statements in light of new information or future events. During the call, we will discuss certain non-GAAP financial measures.

Further discussion of the non-GAAP financial measures, as well as a reconciliation of the non-GAAP financial measures to the most directly comparable GAAP measures, investors should review the news release we posted on our website at ir.signetjewelers.com. With that, I’ll turn the call over to J.K.

J.K. Symancyk — Chief Executive Officer

Thanks, Rob, and good morning, everyone. I’d first like to thank our Signet team. Your efforts positioned us well to deliver positive same-store sales over the last three months, including Valentine’s Day. Thank you for all your hard work.

Alongside my remarks, we’ve provided a summary presentation on our website to accompany what I’m covering today. Before we talk about the year ahead and my observations on the business, let’s quickly recap the holidays and the actions we’ve taken since. Bridal and services were in line with our expectations over the holidays. However, key gifting price points underperformed in the two weeks before Christmas, leading to a softer fashion performance.

While we saw 40% growth in lab-grown diamond fashion, we didn’t have enough of the right inventory to meet demand, particularly at the $200 to $500 price point. Since the holidays, the team has been focused on filling these assortment gaps and expanding the availability of on-trend merchandise. Clearly, there’s more progress to be made, but I’m pleased with the team’s quick adjustments, which delivered positive comp sales in January and quarter to date in both bridal and fashion. We will continue to make changes to our assortment this spring to drive improvement for the next two major gifting seasons, Mother’s Day and the winter holidays, and we are tracking to deliver relevant products throughout the coming months.