Signet, the parent company of Kay Jewelers, anticipates maintaining its market position and continuing to invest in growth, as stated by its CEO.

• Gina Drosos, CEO of Signet Jewelers, anticipates increasing its market share in the near future, as she stated on CNBC on Thursday.
• She said the company’s successful transformation has made those ambitions realistic.
• She informed Jim Cramer that she believes it's thrilling that they now have the financial stability to consistently invest in their business and generate share growth over time.

Gina Drosos, CEO of the company, stated on CNBC on Thursday that the company aims to increase its market share in the future, as its successful transformation has made this goal attainable.

Drosos stated in an interview on "Mad Money" that he finds it exciting that the company now has the financial stability to consistently invest in its business and generate share gains over time.

In fiscal 2022, Signet, the parent company of Zales and Kay Jewelers, gained 270 basis points of market share, bringing its percentage to 9.3%. A basis point is equivalent to 0.01%.

Drosos, who has led Signet since 2017, stated that they are confident in their ability to continue to do what they have been doing. Under her leadership, Signet has focused on reducing its physical store locations while expanding its online presence.

Signet's online sales increased by 85.4% in fiscal 2022 compared to fiscal 2020, while overall sales grew by 30.6%.

Signet's emphasis on ecommerce is a crucial element of its comprehensive strategy to increase market share and, consequently, revenue, according to Drosos. Additionally, expanding the overall jewelry market is also essential, the CEO stated.

Signet experienced a significant increase in customers last year, despite the overall category growth being only around 20%. This was due to our targeted marketing approach, which utilized data and analytics to effectively reach new customers with the right message at the right time.

On Thursday, Signet's shares rose approximately 7%, with investors applauding the company's financial results. According to Refinitiv, the fourth-quarter revenue and same-store sales exceeded expectations, while the earnings per share of $5.01 were in line with projections.

Signet's stock has outperformed the S&P 500 by 29% over the past 12 months, ending at $83.14 per share on Thursday.

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