Strategic Changes Signet Jewelers Pay Off

Jewelry
03/09/2021 13:43

US retailer Signet Jewelers reported its May, June & July sales more than doubled to $1.79 billion compared to the same period last year, says Rapaport. The company outperformed expectations in this second fiscal quarter, concluding their strategic changes more than paid off. 

“Inspiring Brilliance, Signet’s new action plan focusing on innovation and sustainable growth, made our company capitalize on robust jewelry demand”, explained CEO Virginia Drosos. She also emphasized sales benefited from the US government stimulus, tax refunds, and consumer enthusiasm in reaction to vaccines rollouts.

After revenues in the first fiscal quarter jumped 98% compared to the same period last year, it’s the second consecutive three-month period in which Signet’s sales beat all forecasts and expectations. Signet Jewelers predict sales between $6.8 billion and $6.95 billion for the current financial year.

Image: Signet Jewelers