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Signet's CEO Presents At Goldman Sachs 2012 Global Retailing Conference (Transcript)

So we really appreciate you coming here and we look forward to taking your questions today. The opportunities are really endless for us that we see. So, with that, we’ll keep it short, because we know we don’t have a lot of time and we’ll throw it out for questions to you guys.

William Hutchings - Goldman Sachs

Yeah. So for those of you who are on day two of this conference, we just get through the standard questions that we’re asking every company. So, first of all, what are your expectations for the latter half of the year and if you can comment, obviously, if you went to on 2013 and how it’s looking for you from where we are today?

Mike Barnes

Thank you very much. I appreciate the fact that you think that we’re all economist out here. But, no, seriously, we had a great first half of the year. We just announced our second quarter a while back and we had the strong comp stores sales in the U.S. and relatively speaking in the U.K. where we had positive comps in that market in a very, very tough environment.

Our business continues to get better overtime. I think the back half of the year is promising. We can’t control whether it’s going to happen in the macro environment, but we feel like we’re very well-positioned to meet our objectives for the back half of the year.

We had a lot of merchandise that we tested in the front half of the year that actually tested very, very well for us and we’re doing a lot of rollouts in the back half of the year into both Kay and Jared, with some of these brand extensions.

If you look at a brand like Neil Lane, Neil Lane has been a fantastic fairly new store Bridal range for us and has performed excellently. We have now tested it and expanded it into the design area, into the fashion area, the test went extremely well. And we’re going to roll it into all Kay and Jared stores for the back half of the year. So that’s going to be a fantastic, new brand for us going in.

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