Signet Jewelers Ltd (NYSE:SIG) Q2 2021 Earnings Conference Call - Final Transcript

Sep 03, 2020 • 08:30 am ET


Signet Jewelers Ltd (NYSE:SIG) Q2 2021 Earnings Conference Call - Final Transcript


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Hello, and welcome to the Signet Jewelers Second Quarter Fiscal 2021 Earnings Conference Call. [Operator Instructions] Please note this event is being recorded.

I would now like to turn the conference over to Vinnie Sinisi. Please go ahead, sir.

Vincent Sinisi

Thanks very much, Alisa, and good morning, everyone. Welcome to our second quarter earnings conference call. On the call today are Signet's CEO, Gina Drosos; and CFO, Joan Hilson.

During today's presentation, we will make certain forward-looking statements. Any statements that are not historical facts are subject to a number of risks and uncertainties, and actual results may differ materially. We urge you to read the risk factors, cautionary language and other disclosure 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 take -- 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. For further discussion of the non-GAAP financial measures, as well as reconciliation of the non-GAAP to most directly comparable GAAP measures, investors should review the news release we posted on our website at

And with that, I will turn the call over to Gina.

Virginia Gina C. Drosos

Thank you, Vinnie. Good morning, everyone. And thank you for joining us on our second quarter call this morning. Recall that in Q1 as stores closed we pivoted to a digital first strategy and accelerated many elements of our Path to Brilliance transformation. At the same time, we tightly managed cash and expenses to offset negative impacts of the COVID-19 pandemic and preserve our ability to invest in and grow our business. Now in Q2, we are seeing our strategic efforts yield results.

Before I discuss our Q2 results, I want to first acknowledge and thanks to Signet team. I am inspired everyday by our team's agility to operate in this new retail environment and meet our customer's needs, guided by our purpose and core values safety and the well-being of our team members and customers remains a top priority. This is why we launched our Love Takes Care safety program this quarter in partnership with leading healthcare experts to ensure that we are doing everything possible to create safe places to shop and work.

Our teams care and compassion fueled the launch of our Signet team member relief fund for our colleagues most impacted by COVID. We activated our voice and partnered with the NAACP Legal and Defense Fund to fight racism, as well as support a glad to comfort equality and justice for all.

We are resilient and I want to full heartily express my gratitude to our Signet team. Along with our vendor partners and loyal customers, our team is at the core of my belief that we will together emerge from this crisis stronger.

I would like to now discuss our Q2 results, as well as provide additional strategic perspective on how we are learning and