"Our Signet team delivered strong second quarter top and bottom line performance with continued execution of our Inspiring Brilliance strategy, enabling us to maximize jewelry category strength and capture share over the last year," said Virginia C. Drosos, Chief Executive Officer. "Our performance this quarter demonstrates that our banner value propositions, product newness, always-on marketing and connected commerce experiences are resonating with new and loyal customers. We are raising our guidance for the year reflecting our business strength and confidence in our growth strategy while remaining cautious regarding the impacts of the macro environment, particularly in the fourth quarter. I'm proud and appreciative of our team - they continue to embrace our new consumer inspired capabilities with excellence."
"We expanded our share repurchase authorization to $225 million, reflecting our confidence in Signet's long-term growth opportunities. Our performance this quarter generated strong cash flow from operating activities as well as incremental cost savings. Our cash position reflects the efficiency and focus of our now 3.5 years of transformation and provides for further investment as we remain focused on our capital priorities to invest in our growth strategy, progress toward our leverage goals, as well as return capital to shareholders," said Joan Hilson, Chief Financial and Strategy Officer.
Second Quarter Fiscal 2022 Highlights:
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