Tag Archives: Signet Jewelers Limited

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Signet Jewelers Limited recognized for its corporate social responsibility and sustainability efforts

HAMILTON, Bermuda, 2017-Aug-11 — /EPR Retail News/ — Signet Jewelers Limited (the “Company”) (NYSE: SIG), the world’s largest retailer of diamond jewelry, has been recognized for its corporate social responsibility and sustainability efforts by being named as a component of the FTSE4Good US and Global Indices in 2017. Signet joins this group of other publicly traded companies with strong environmental, social and governance (ESG) practices.

“Signet is proud of our commitment to reducing our energy consumption and raising our efficiency levels across our business. Our responsible sourcing efforts have lead the industry as 1 of 4 US companies to have reported a conflict-free gold supply chain for 4 consecutive years,” said Lynn Dennison, Chief Legal, Risk and Corporate Affairs Officer at Signet Jewelers.

This year marks the 15th anniversary of the FTSE Russell’s ESG Index, FTSE4Good. Investors around the world use the indices as indicators to determine if investment funds and other products are socially responsible and engage in ethical activities.

According to FTSE Russell, the last 15 years have brought a measurable shift in the investment landscape. The inclusion of ESG factors in investment decisions has evolved from a niche concept to a core investment strategy among many asset managers.

Signet Jewelers’ tradition of corporate social responsibility has always been about doing the right thing for all of our stakeholders. This is a part of our Core Values. We firmly believe that CSR makes our business stronger and more sustainable over the long-term.

To learn more about Signet Jewelers Corporate Social Responsibility please visit: http://www.signetjewelers.com/CSRreport2016

About Signet Jewelers:

Signet Jewelers Limited is the world’s largest retailer of diamond jewelry. Signet operates approximately 3,600 stores primarily under the name brands of Kay Jewelers, Zales, Jared The Galleria Of Jewelry, H.Samuel, Ernest Jones, Peoples and Piercing Pagoda. Further information on Signet is available at www.signetjewelers.com. See also www.kay.com, www.zales.com, www.jared.com, www.hsamuel.co.uk, www.ernestjones.co.uk, www.peoplesjewellers.com and www.pagoda.com.

Contact:
Investors:
James Grant
VP Investor Relations
1-330-668-5412
James.Grant@signetjewelers.com

Media:
David Bouffard
VP Corporate Affairs
1-330-668-5369
David.Bouffard@signetjewelers.com

Source: Signet Jewelers Limited

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Signet Jewelers Limited appoints R. Mark Graf as an Independent Director

HAMILTON, Bermuda, 2017-Jun-22 — /EPR Retail News/ — Signet Jewelers Limited (the “Company”) (NYSE: SIG), the world’s largest retailer of diamond jewelry, today announced that its Board of Directors has appointed R. Mark Graf as an Independent Director effective July 1, 2017. Mr. Graf currently serves as Chief Financial Officer at Discover Financial Services and has more than 30 years of experience in treasury, financial planning, accounting, corporate development and business line management.

H. Todd Stitzer, Chairman, commented, “Mark brings to Signet a deep, balanced and diversified finance, credit and leadership experience, which will make him a valuable addition to the Signet Board of Directors. On behalf of the Board, I welcome him, and we look forward to benefiting from his knowledge and insight.”

Prior to joining Discover Financial Services, Mr. Graf was an Investment Advisor at Aquiline Capital Partners, a private equity firm specializing in investments in the financial services industry. Prior to that, he served as Partner at Barrett Ellman Stoddard Capital Partners from 2006 to 2008 and Chief Financial Officer of Fifth Third Bancorp from 2004 to 2006.

Mr. Graf holds a BS in Economics from the University of Pennsylvania, Wharton School.

Additionally, Mr. Dale W. Hilpert notified the Company of his decision to retire from the Board of Directors for personal reasons, effective June 28, 2017.

Mr. Stitzer added: “On behalf of the Board, I thank Dale for his significant and valued contribution to Signet over the last 14 years and wish him all the best in his retirement.”

SOURCE: Signet Jewelers

Contacts

Investors:
James Grant
VP Investor Relations
1-330-668-5412
James.Grant@signetjewelers.com

Media:
David Bouffard
VP Corporate Affairs
1-330-668-5369
David.Bouffard@signetjewelers.com

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Signet Jewelers Limited announces organizational changes

Expands Digital Expertise through Appointment of Brian A. Tilzer to Board of Directors

HAMILTON, Bermuda, 2017-Feb-01 — /EPR Retail News/ — Signet Jewelers Limited (NYSE:SIG), the world’s largest retailer of diamond jewelry, announced several organizational changes designed to enable execution of key business priorities including strengthening customer service, enhancing digital capabilities and driving profitable growth

Senior Organizational Changes Include:

  • Creating a new President & Chief Customer Officer role to sharpen Signet’s focus on delivering an exceptional and unified omni-channel customer experience across brick-and-mortar, mobile and digital retail platforms
  • Creating a new Chief Retail Insights and Strategy Officer role to consolidate and enhance retail analytics, consumer insights and strategy functions to drive strategy across the business
  • Consolidating responsibility for IT modernization, transformational initiatives and achieving operational efficiencies throughout Signet’s supply chain under the Chief Operations Officer
  • Announcing the retirement of two long-time executives: Ed Hrabak, Signet Chief Operations Officer; and Tryna Kochanek, EVP, North American Store Operations
  • Expanding Signet’s overall digital capabilities by adding a digital expert to Signet’s Board of Directors

Chief Executive Officer Mark Light said, “We continue to align our organization and priorities with our Vision 2020 strategy and the changing retail environment, characterized by evolving shopping habits and increasing customer expectations for an outstanding digital experience. We are investing and directing more resources to improve the overall customer omni-channel journey, re-emphasizing our commitment to the customer experience and enhancing our analytics function to ensure we are offering products and services that appeal to today’s and tomorrow’s customers. These changes and investments support the long-term growth of our business and build upon our competitive strengths and leading market position.”

Exceptional Customer Experience

The Company announced the promotion of Sebastian Hobbs, UK Managing Director, to the newly created role of President and Chief Customer Officer.

“We view this new role of President & CCO as critically important to the future success of our organization,” said CEO Mark Light. “As the world’s largest diamond jewelry retailer, Signet is committed to continually earning the trust of our customers and ensuring they have a world-class experience. Seb’s experience uniquely positions him to succeed in this newly created role which reflects the importance we place on the customer experience at Signet. We are confident Seb will provide the leadership necessary to provide our customers with a strong voice and build a highly attentive and responsive omni-channel organization.”

Mr. Hobbs will report directly to Signet’s CEO and have global responsibility for leading all three of Signet’s critical, customer-facing functions: Store Operations, Merchandising and Marketing, including the continued development of a best-in-class omni-channel experience. Mr. Hobbs’ experience includes nearly six years at Signet, along with broad retail General Management and Commercial executive experience, and successful leadership of the UK Division’s business.

Signet also announced that Emma Hayward will be promoted to Executive Director of the UK Division, reporting to Mr. Hobbs, who will continue to oversee UK operations in his role as President & CCO. Currently UK Store Operations Director, Ms. Hayward has more than 20 years of experience in increasing retail leadership responsibilities, including 12 years in a number of management roles leading store operations at Signet.

Mark Light added, “Emma Hayward will be promoted to Executive Director of the UK Division, reporting to Seb, who will continue to oversee UK operations. We believe her commitment and experience will ensure an unparalleled customer experience across our UK businesses.”

Ensuring Efficiency and Infrastructure Excellence

Bryan Morgan, EVP, Supply Chain Management and Repair, has been promoted to Signet’s new Chief Operations Officer reporting to CEO Mark Light.

“The ongoing modernization of Signet’s IT systems is critical to meeting increasing consumer demand and supporting an exceptional online shopping experience,” said Light. “Bryan will be responsible for working closely with our Chief Information Officer to deliver against our IT systems objectives.”

Mr. Morgan will also lead Signet’s transformational initiatives and operational efficiency objectives, in addition to his current responsibilities for the expansion and harmonization of Signet’s international distribution centers and logistics, implementing enhancements to customer repair procedures, and continuously improving the Company’s strategic procurement processes.

Leveraging Consumer Insights and Analytics

George Murray, Chief Merchandising and Marketing Officer, has been named to the new role of Chief Retail Insights and Strategy Officer, reporting to CEO Mark Light. The move reflects the increasing complexity and scope of the business and a greater emphasis on retail and consumer data to drive strategy across the business.

Mr. Murray will continue to play a key role on Signet’s Executive Committee. He will also focus on identifying strategic opportunities for future growth, building out a world-class retail analytics function and fully integrating our retail analytics capabilities with the Strategy team.

Expanding Digital Expertise on Signet’s Board of Directors

In a companion press release, Signet has announced that Brian A. Tilzer, currently Chief Digital Officer at CVS Health, has been appointed to the Signet Board of Directors.

“Brian’s deep experience from his digital and e-commerce roles at major retailers, combined with his current work developing a breakthrough customer experience through digital in an omni-channel environment, are perfectly aligned with our priorities, said Mark Light. “We are thrilled that Brian will be joining our Board, and we look forward to benefitting from his outstanding digital and retail expertise as we continue to enhance our omni-channel capabilities.”

Mr. Tilzer has more than 20 years of experience in strategic business development, operations and information technology, with a deep concentration in corporate and ecommerce strategy. Prior to joining CVS Health, Tilzer was the Senior Vice President of Global e-Commerce withStaples, where he developed and led several multi-channel digital innovation strategies. Tilzer holds a BA from Tufts University and an MBA from The Wharton School.

Key Retirements

In addition to the new leadership position appointments, Signet is announcing the retirement of two long-time executives: Ed Hrabak, Signet Chief Operations Officer; and Tryna Kochanek, EVP, North American Store Operations. Each executive has committed to ensuring a smooth transition prior to departure.

“With a career spanning nearly 40 years, including 30 years at Signet in key Merchandising and executive leadership roles, Ed has earned a distinguished global reputation throughout the jewelry industry. As he steps down from his COO role, we want to recognize his values-driven leadership, which has been instrumental in our rapid profitable growth and performance excellence.”

Mr. Light continued, “We greatly value Tryna’s many contributions to our organization since she began her career at Signet 30 years ago. Tryna has taken on increasingly significant Store Operations leadership roles throughout her career and her dedication to developing team members and her commitment to measurable excellence had a tremendous impact on Signet’s growth and success.”

“We want to express our heartfelt appreciation for Ed’s and Tryna’s dedication and countless contributions to Signet over these past three decades and we wish them the very best in their retirements.”

About Signet and Safe Harbor Statement

Signet Jewelers Limited is the world’s largest retailer of diamond jewelry. Signet operates approximately 3,600 stores primarily under the name brands of Kay Jewelers, Zales, Jared The Galleria Of Jewelry, H.Samuel, Ernest Jones, Peoples and Piercing Pagoda. Further information on Signet is available at www.signetjewelers.com. See also www.kay.com, www.zales.com, www.jared.com, www.hsamuel.co.uk,www.ernestjones.co.uk, www.peoplesjewellers.com and www.pagoda.com.

This release contains statements which are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements, based upon management’s beliefs and expectations as well as on assumptions made by and data currently available to management, appear in a number of places throughout this document and include statements regarding, among other things, Signet’s results of operation, financial condition, liquidity, prospects, growth, strategies and the industry in which Signet operates. The use of the words “expects,” “intends,” “anticipates,” “estimates,” “predicts,” “believes,” “should,” “potential,” “may,” “forecast,” “objective,” “plan,” or “target,” and other similar expressions are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to a number of risks and uncertainties, including but not limited to general economic conditions, to general economic conditions, regulatory changes following the United Kingdom’s announcement to exit from the European Union, a decline in consumer spending, the merchandising, pricing and inventory policies followed by Signet, the reputation of Signet and its brands, the level of competition in the jewelry sector, the cost and availability of diamonds, gold and other precious metals, regulations relating to customer credit, seasonality of Signet’s business, financial market risks, deterioration in customers’ financial condition, exchange rate fluctuations, changes in Signet’s credit rating, changes in consumer attitudes regarding jewelry, management of social, ethical and environmental risks, security breaches and other disruptions to Signet’s information technology infrastructure and databases, inadequacy in and disruptions to internal controls and systems, changes in assumptions used in making accounting estimates relating to items such as extended service plans and pensions, risks related to Signet being a Bermuda corporation, the impact of the acquisition of Zale Corporation on relationships, including with employees, suppliers, customers and competitors, and our ability to successfully integrate Zale Corporation’s operations and to realize synergies from the transaction.

For a discussion of these risks and other risks and uncertainties which could cause actual results to differ materially from those expressed in any forward looking statement, see the “Risk Factors” section of Signet’s Fiscal 2016 Annual Report on Form 10-K filed with the SEC on March 24, 2016 and Part II, Item 1A of Form 10-Q filed November 29, 2016. Signet undertakes no obligation to update or revise any forward-looking statements to reflect subsequent events or circumstances, except as required by law.

Contact:

Investors:
James Grant
1-330-668-5412
VP Investor Relations

Media:
David Bouffard
1-330-668-5369
VP Corporate Affairs

Source: Signet Jewelers Limited

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Signet Jewelers Limited expands its board to 12 members with the appointment of Brian A. Tilzer

HAMILTON, Bermuda, 2017-Feb-01 — /EPR Retail News/ — Signet Jewelers Limited (NYSE:SIG), the world’s largest retailer of diamond jewelry, today (January 31, 2017) announced that the Signet Board of Directors has voted to expand the board to 12 members and has appointed Brian A. Tilzer to fill the newly created board position effective immediately. Mr. Tilzer currently serves as Chief Digital Officer at CVS Health and has more than 20 years of experience in strategic business development, operations and information technology, with a deep concentration in corporate and ecommerce strategy. Prior to joining CVS Health, Mr. Tilzer was the Senior Vice President of Global e-Commerce with Staples, where he developed and led several multi-channel digital innovation strategies.

“Brian brings to Signet deep, innovative digital and e-commerce experiences at major retailers,” said Chairman H. Todd Stitzer. “There is a valuable connection between Brian’s very specific experience and the strong growth opportunities ahead for Signet. Brian is a successful innovator in the digital space and we believe his knowledge and insight will make Brian a valuable addition to the Signet Board of Directors.”

In his role as Senior Vice President and Chief Digital Officer for CVS Health, Mr. Tilzer is responsible for developing and leading the teams driving CVS Health’s company wide digital innovation efforts. He is also focused on connecting current and future digital initiatives and ensuring that CVS Health continues to use the most innovative technology available to seamlessly meet customers’ needs.

Mr. Tilzer holds a BA from Tufts University, an MBA from The Wharton School, and is a member of the Mass Technology Leadership Council (MassTLC), a leading technology association and the premier network for tech executives, entrepreneurs, investors and policy leaders.

About Signet and Safe Harbor Statement:

Signet Jewelers Limited is the world’s largest retailer of diamond jewelry. Signet operates approximately 3,600 stores primarily under the name brands of Kay Jewelers, Zales, Jared The Galleria Of Jewelry, H.Samuel, Ernest Jones, Peoples and Piercing Pagoda. Further information on Signet is available at www.signetjewelers.com. See also www.kay.com, www.zales.com, www.jared.com, www.hsamuel.co.uk,www.ernestjones.co.uk, www.peoplesjewellers.com and www.pagoda.com.

This release contains statements which are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements, based upon management’s beliefs and expectations as well as on assumptions made by and data currently available to management, appear in a number of places throughout this document and include statements regarding, among other things, Signet’s results of operation, financial condition, liquidity, prospects, growth, strategies and the industry in which Signet operates. The use of the words “expects,” “intends,” “anticipates,” “estimates,” “predicts,” “believes,” “should,” “potential,” “may,” “forecast,” “objective,” “plan,” or “target,” and other similar expressions are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to a number of risks and uncertainties, including but not limited to general economic conditions, to general economic conditions, regulatory changes following the United Kingdom’s announcement to exit from the European Union, a decline in consumer spending, the merchandising, pricing and inventory policies followed by Signet, the reputation of Signet and its brands, the level of competition in the jewelry sector, the cost and availability of diamonds, gold and other precious metals, regulations relating to customer credit, seasonality of Signet’s business, financial market risks, deterioration in customers’ financial condition, exchange rate fluctuations, changes in Signet’s credit rating, changes in consumer attitudes regarding jewelry, management of social, ethical and environmental risks, security breaches and other disruptions to Signet’s information technology infrastructure and databases, inadequacy in and disruptions to internal controls and systems, changes in assumptions used in making accounting estimates relating to items such as extended service plans and pensions, risks related to Signet being a Bermuda corporation, the impact of the acquisition of Zale Corporation on relationships, including with employees, suppliers, customers and competitors, and our ability to successfully integrate Zale Corporation’s operations and to realize synergies from the transaction.

For a discussion of these risks and other risks and uncertainties which could cause actual results to differ materially from those expressed in any forward looking statement, see the “Risk Factors” section of Signet’s Fiscal 2016 Annual Report on Form 10-K filed with the SEC on March 24, 2016 and Part II, Item 1A of Form 10-Q filed November 29, 2016. Signet undertakes no obligation to update or revise any forward-looking statements to reflect subsequent events or circumstances, except as required by law.

Contact:

Investors:
James Grant
1-330-668-5412
VP Investor Relations

Media:
David Bouffard
1-330-668-5369
VP Corporate Affairs

Source: Signet Jewelers Limited

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Signet Jewelers Limited to announce 3Q FY 2017 financial results on Tuesday, November 22, 2016

HAMILTON, Bermuda, 2016-Nov-07 — /EPR Retail News/ — Signet Jewelers Limited (NYSE:SIG), intends to announce its results for the 13 weeks ended October 29, 2016 at approximately 7:00 a.m. ET on Tuesday, November 22, 2016.

On that date there will be a conference call at 8:30 a.m. ET and a simultaneous audio webcast and slide presentation available at www.signetjewelers.com. The slides will be available to be downloaded from the website ahead of the conference call.

The call details are:

Dial-in: +1 647 788 4901
Confirmation Code: 99499993

Investors Contact:
James Grant
VP Investor Relations
1-330-668-5412

Media Contact:
David Bouffard
VP Corporate Affairs
1-330-668-5369

Source: Signet Jewelers Limited

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Signet Jewelers Limited finalizes $625 investment in Leonard Green & Partners, L.P.

HAMILTON, Bermuda, 2016-Oct-10 — /EPR Retail News/ — Signet Jewelers Limited (NYSE:SIG), the world’s largest retailer of diamond jewelry, announced today (October 5, 2016) that it has closed the previously announced transaction with Leonard Green & Partners, L.P. (“LGP”), a leading private equity firm, pursuant to which affiliates of LGP invested $625 million in the form of convertible preferred shares. In connection with the closing of the transaction, Jonathan Sokoloff, Managing Partner of LGP, was added to the Signet board of directors.

Mark Light, Chief Executive Officer of Signet Jewelers said, “We are pleased to welcome Leonard Green as a long-term strategic investor who will provide a strong foundation to our shareholder base and bring added retail and financial expertise to our board of directors. We view Leonard Green’s significant investment in Signet as a strong vote of confidence in our business and our long-term growth prospects, and we look forward to working together to further grow and shape the Signet portfolio of brands.”

The investment in Signet by certain funds affiliated with LGP is in the form of convertible preferred shares that accrue a 5% p.a. dividend, payable quarterly in arrears, in cash or by increasing the stated value, at the option of Signet. The preference shares are convertible into 6.7 million Signet common shares based on a conversion price of $93.8712. This represents a premium of 18% to the volume weighted average price of the common shares for the 20 trading days following Signet’s second quarter earnings announcement on August 25, 2016. LGP will be subject to a two-year lock-up period (subject to certain exemptions) and Signet will also have the right to force conversion after two years if the volume weighted average price of Signet common shares is greater than $164.2746 for 20 consecutive trading days.

Accelerated Share Repurchase to Offset Dilution

The Signet board, as previously disclosed, increased its authorized share buyback program by $625 million on August 25, 2016. In connection with today’s transaction, Signet has entered into an accelerated share repurchase (“ASR”) agreement with J.P. Morgan Securities LLC, as agent for JPMorgan Chase Bank, National Association, London Branch (“JPMorgan”) in order to offset the convertible preferred share dilution.

Key features of the ASR, which will be funded by the proceeds of the preferred share issuance, are as follows:

  • Signet will repurchase its common shares at an aggregate purchase price of $525 million.
  • The total number of common shares to be purchased ultimately by Signet under the ASR will generally be based on the average of the daily volume-weighted average prices of Signet’s common shares during the term of the ASR minus a discount.
  • Signet may receive, or be required to pay, a future price adjustment upon final settlement of the ASR. The price adjustment may be settled in cash or Signet’s common shares.
  • The ASR is expected to be completed over approximately three months.

The balance of the authorized share repurchases, representing an amount of $100 million, were made by the company on the open market at various points prior to transaction close to offset dilution. Signet’s share repurchase activity is expected to result in an EPS-neutral financial transaction.

Advisory and consulting fees incurred in connection with the preferred securities were approximately $13 million.

About Signet Jewelers and Leonard Green & Partners

Signet Jewelers Limited is the world’s largest retailer of diamond jewelry. Signet operates approximately 3,600 stores primarily under the name brands of Kay Jewelers, Zales, Jared The Galleria Of Jewelry, H.Samuel, Ernest Jones, Peoples and Piercing Pagoda. Further information on Signet is available at www.signetjewelers.com. See also www.kay.com, www.zales.com, www.jared.com, www.hsamuel.co.uk, www.ernestjones.co.uk, www.peoplesjewellers.com and www.pagoda.com.

Leonard Green & Partners, L.P. is a leading private equity investment firm founded in 1989. Based in Los Angeles, the firm partners with experienced management teams to invest in market-leading companies. Since inception, LGP has invested in over 80 companies in the form of traditional buyouts, going-private transactions, recapitalizations, growth equity, and selective public equity and debt positions. The firm’s primary sectors of focus are consumer/retail, healthcare/wellness, business/consumer services, and distribution. Select past and current investments include Whole Foods Market, Life Time Fitness, Shake Shack, Activision, Jetro Cash & Carry, CHG Healthcare, and Petco. For more information, please visit www.leonardgreen.com.

Safe Harbor Statement

This release contains statements which are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements, based upon management’s beliefs and expectations as well as on assumptions made by and data currently available to management, appear in a number of places throughout this document and include statements regarding, among other things, Signet’s results of operation, financial condition, liquidity, prospects, growth, strategies and the industry in which Signet operates. The use of the words “expects,” “intends,” “anticipates,” “estimates,” “predicts,” “believes,” “should,” “potential,” “may,” “forecast,” “objective,” “plan,” or “target,” and other similar expressions are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to a number of risks and uncertainties, including but not limited to general economic conditions, a decline in consumer spending, the merchandising, pricing and inventory policies followed by Signet, the reputation of Signet and its brands, the level of competition in the jewelry sector, the cost and availability of diamonds, gold and other precious metals, regulations relating to customer credit, seasonality of Signet’s business, financial market risks, deterioration in customers’ financial condition, exchange rate fluctuations, changes in Signet’s credit rating, changes in consumer attitudes regarding jewelry, management of social, ethical and environmental risks, security breaches and other disruptions to Signet’s information technology infrastructure and databases, inadequacy in and disruptions to internal controls and systems, changes in assumptions used in making accounting estimates relating to items such as extended service plans and pensions, risks related to Signet being a Bermuda corporation, the impact of the acquisition of Zale Corporation on relationships, including with employees, suppliers, customers and competitors, and our ability to successfully integrate Zale Corporation’s operations and to realize synergies from the transaction.

For a discussion of these risks and other risks and uncertainties which could cause actual results to differ materially from those expressed in any forward looking statement, see the “Risk Factors” section of Signet’s Fiscal 2016 Annual Report on Form 10-K filed with the SEC on March 24, 2016. Signet undertakes no obligation to update or revise any forward-looking statements to reflect subsequent events or circumstances, except as required by law.

Contact:

Investors:
James Grant
VP Investor Relations
1 330-668-5412

Media:
David Bouffard
VP Corporate Affairs
1 330-668-5369

Source: Signet Jewelers Limited

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Signet Jewelers Limited announced its results for the 13 weeks ended July 30, 2016

HAMILTON, Bermuda, 2016-Aug-27 — /EPR Retail News/ — Signet Jewelers Limited (“Signet”) (NYSE: SIG), the world’s largest retailer of diamond jewelry, today ( August 25, 2016) announced its results for the 13 weeks ended July 30, 2016 (“second quarter Fiscal 2017”).

Summary:

  • Same store sales down 2.3%. Total sales $1.4 billion down 2.6%. Total sales at constant exchange rate down 1.3%.
  • Second quarter Fiscal 2017 diluted earnings per share (“EPS”) $1.06. Adjusted EPS $1.14.
  • Zale integration continues to progress well. On track to deliver cumulative synergies of $158 million to $175 million by end of this fiscal year and $225 million to $250 million by end of next fiscal year.
  • Repurchased over 2.8 million shares in second quarter for $250 million along with insider buying.
  • Credit review process proceeding according to plan.
  • Leonard Green & Partners (“LGP”) commits to $625 million convertible preferred investment in Signet.
  • Annual financial guidance revised downward based on current trends.

Mark Light, Chief Executive Officer of Signet Jewelers said, “We are disappointed by our Q2 results and market conditions have been challenging particularly in the energy-dependent regions. This has contributed to a downward revision in our annual guidance.

“We achieved some important wins in the second quarter. Select diamond fashion jewelry, bracelets, and earrings sold well. We saw success in a variety of selling channels including outlets, kiosks, and on-line due to improvements in our consumer websites and mobile sites. The Zale integration is running well and synergies remain on target. We remain confident in the medium and long-term prospects of our business.

“Demonstrating our confidence in our company, we repurchased nearly four percent of our outstanding common stock during the quarter coupled with purchases by our Directors and Officers. As announced, and in a further demonstration of confidence in our company, LGP, one of the world’s preeminent retail investors, agreed to purchase a $625 million stake in Signet. Finally, our credit review process is proceeding according to plan.”

Mr. Light concluded, “We have experience and success in navigating through the kind of uncertain business conditions we are seeing today. We are confident that our organization will do so again this year. We are intensely focused on preparations for the fourth quarter when we will launch new initiatives around merchandising, marketing, digital, and the customer experience. I want to thank all Signet team members for their dedication and hard work as we move in to the all-important holiday season.”

Contact:
Investors:
James Grant
VP Investor Relations
1 330-668-5412

Media:
David Bouffard
VP Corporate Affairs
1 330-668-5369

Source: Signet Jewelers Limited

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Leonard Green & Partners to invest $625 million in Signet Jewelers Limited in the form of convertible preferred shares

HAMILTON, Bermuda, 2016-Aug-27 — /EPR Retail News/ — Signet Jewelers Limited (NYSE:SIG), the world’s largest retailer of diamond jewelry, announced today (August 25, 2016 ) that affiliates of Leonard Green & Partners, L.P. (“LGP”), a leading private equity firm, will invest $625 million in the form of convertible preferred shares. Signet will use the proceeds from the LGP investment to fund a repurchase of up to $625 mm in common stock either in the open market or through privately negotiated transactions. In conjunction with this transaction, Signet will expand its Board of Directors from ten to eleven and appoint Jonathan Sokoloff to the Signet Board upon the closing of the transaction, which is expected to occur in the third quarter of FY 2017.

Mark Light, Chief Executive Officer of Signet Jewelers, said, “We are very pleased to announce this strategic partnership with Leonard Green, one of the most experienced and successful investors in the retail industry. For more than 25 years, Leonard Green has successfully partnered with some of the best known companies in the retail sector and worked to create significant shareholder value. We view Leonard Green’s significant investment in Signet as a strong vote of confidence in our business and its long term growth prospects.”

Todd Stitzer, Chairman of Signet Jewelers, said, “We found in Leonard Green a long term partner who will provide a strong foundation to our shareholder base and will bring additional retail and financial expertise to our Board of Directors to help us further grow and shape the Signet portfolio of brands in a continuously evolving retail landscape.”

Jonathan Sokoloff added, “Signet Jewelers is an outstanding company – an innovator in its industry with some of the world’s most recognizable store banners and jewelry brands. We are pleased to make this investment and look forward to our partnership with the Board and management team.”

The investment by Green Equity Investors VI, L.P., an affiliate of LGP, in Signet will include the following terms:

  • $625mm in convertible preference shares
  • The convertible preference shares accrue a 5% p.a. dividend, payable quarterly in arrears, in cash or by increasing the liquidation preference, at the option of Signet
  • The preference shares will be convertible into Signet common shares at a premium of 18% to the volume weighted average price of the common shares for the 20 trading days immediately following Signet’s second quarter earnings announcement on August 25, 2016, with a maximum conversion price of $100 per share
  • LGP will be subject to a two year lock-up period and Signet will also have the right to force conversion after two years subject to Signet’s common shares achieving a specific price threshold

As a part of the transaction, Signet is increasing its Board authorized share repurchase program by $625 million, bringing the total authorization to$1.1 billion when combined with the $511 million remaining under the previously authorized repurchase program. The transaction is expected to close in the third quarter of FY 2017, subject to the receipt of customary regulatory approvals. Additional information regarding the investment will be included in a Form 8-K to be filed today by Signet with the Securities and Exchange Commission.

J.P. Morgan Securities LLC acted as financial advisor and Weil, Gotshal & Manges LLP acted as legal advisor to Signet. Guggenheim Securitiesacted as financial advisor and Latham & Watkins LLP acted as legal advisor to Leonard Green & Partners, L.P.

About Signet
Signet Jewelers Limited is the world’s largest retailer of diamond jewelry. Signet operates approximately 3,600 stores primarily under the name brands of Kay Jewelers, Zales, Jared The Galleria Of Jewelry, H.Samuel, Ernest Jones, Peoples and Piercing Pagoda. Further information on Signet is available at www.signetjewelers.com. See also www.kay.com, www.zales.com, www.jared.com, www.hsamuel.co.uk, www.ernestjones.co.uk, www.peoplesjewellers.com and www.pagoda.com.

About Leonard Green & Partners
Leonard Green & Partners, L.P. is a leading private equity investment firm founded in 1989. Based in Los Angeles, the firm partners with experienced management teams to invest in market-leading companies. Since inception, LGP has invested in over 80 companies in the form of traditional buyouts, going-private transactions, recapitalizations, growth equity, and selective public equity and debt positions. The firm’s primary sectors of focus are consumer/retail, healthcare/wellness, business/consumer services, and distribution. Select past and current investments include Whole Foods Market, Life Time Fitness, Shake Shack, Activision, Jetro Cash & Carry, CHG Healthcare, and Petco. For more information, please visit www.leonardgreen.com.

Safe Harbor Statement
This release contains statements which are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements, based upon management’s beliefs and expectations as well as on assumptions made by and data currently available to management, appear in a number of places throughout this document and include statements regarding, among other things, Signet’s results of operation, financial condition, liquidity, prospects, growth, strategies and the industry in which Signet operates. The use of the words “expects,” “intends,” “anticipates,” “estimates,” “predicts,” “believes,” “should,” “potential,” “may,” “forecast,” “objective,” “plan,” or “target,” and other similar expressions are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to a number of risks and uncertainties, including but not limited to general economic conditions, a decline in consumer spending, the merchandising, pricing and inventory policies followed by Signet, the reputation of Signet and its brands, the level of competition in the jewelry sector, the cost and availability of diamonds, gold and other precious metals, regulations relating to customer credit, seasonality of Signet’s business, financial market risks, deterioration in customers’ financial condition, exchange rate fluctuations, changes in Signet’s credit rating, changes in consumer attitudes regarding jewelry, management of social, ethical and environmental risks, security breaches and other disruptions to Signet’s information technology infrastructure and databases, inadequacy in and disruptions to internal controls and systems, changes in assumptions used in making accounting estimates relating to items such as extended service plans and pensions, risks related to Signet being aBermuda corporation, the impact of the acquisition of Zale Corporation on relationships, including with employees, suppliers, customers and competitors, and our ability to successfully integrate Zale Corporation’s operations and to realize synergies from the transaction.

For a discussion of these risks and other risks and uncertainties which could cause actual results to differ materially from those expressed in any forward looking statement, see the “Risk Factors” section of Signet’s Fiscal 2016 Annual Report on Form 10-K filed with the SEC on March 24, 2016. Signet undertakes no obligation to update or revise any forward-looking statements to reflect subsequent events or circumstances, except as required by law.

Contact:

Investors:
James Grant
1-330-668-5412
VP Investor Relations

Media:
David Bouffard
1-330-668-5369
VP Corporate Affairs

Source: Signet Jewelers Limited

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Signet Jewelers Limited to release its holiday sales results on Thursday, January 7, 2016

HAMILTON, Bermuda, 2015-12-28 — /EPR Retail News/ — Signet Jewelers Limited (NYSE and LSE: SIG), intends to announce its holiday sales results at approximately 7:00 a.m. EST on Thursday, January 7, 2016.

On that date there will be a conference call at 8:30 a.m. EST and a simultaneous audio webcast and slide presentation available at www.signetjewelers.com. The slides will be available to be downloaded from the website ahead of the conference call.

The call details are:
Dial-in: +1 (647) 788 4901
Confirmation Code: 3157781

Source: Signet Jewelers Limited

Signet Jewelers Limited

James Grant, VP Investor Relations, 1-330-668-5412

or

David Bouffard, VP Corporate Affairs, 1-330-668-5369

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Jared® The Galleria Of Jewelry will upgrade more than 200 of its established stores to include new PANDORA boutiques

AKRON, Ohio, 2015-12-7 — /EPR Retail News/ — Signet Jewelers (“Signet”) (NYSE and LSE: SIG), the world’s largest retailer of diamond jewelry, announced that it will elevate its already well-established relationship with PANDORA Jewelry, one of the world’s largest affordable luxury jewelry brands, in its number one destination jewelry store in the United States, Jared® The Galleria Of Jewelry.

As part of this effort, Jared will upgrade more than 200 of its established stores to include new PANDORA boutiques.

“We’re thrilled with our long-term and successful relationship with PANDORA. For more than seven years, Jared Guests have come to rely on an extensive collection of PANDORA jewelry matched with a great customer service experience, helping build new relationships,” said Mark Light, Chief Executive Officer of Signet Jewelers. “The PANDORA brand has been attracting an incremental customer base to Jared for years and we’re confident that the more branded presence of a shop-in-shop, a successful model of watch and jewelry boutiques in Jared and other Signet store brands, will serve an even greater number of PANDORA collectors, especially with the planned assortment expansion.”

Starting in 2016, Signet will begin the process of installing enhanced PANDORA boutiques in more than 200 Jared stores, which will increase thePANDORA footprint to approximately 150 square feet, and support the growth of other PANDORA jewelry categories including rings, earrings, etc. Currently, PANDORA is available in 239 Jared stores.

About Signet and Safe Harbor Statement:
Signet Jewelers Limited is the world’s largest retailer of diamond jewelry. Signet operates approximately 3,600 stores primarily under the name brands of Kay Jewelers, Zales, Jared The Galleria Of Jewelry, H.Samuel, Ernest Jones, Peoples and Piercing Pagoda. Further information on Signet is available at www.signetjewelers.com. See also www.kay.com, www.zales.com, www.jared.com, www.hsamuel.co.uk, www.ernestjones.co.uk, www.peoplesjewellers.com and www.pagoda.com.

This release contains statements which are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements, based upon management’s beliefs and expectations as well as on assumptions made by and data currently available to management, include statements regarding, among other things, Signet’s results of operation, financial condition, liquidity, prospects, growth, strategies and the industry in which Signet operates. The use of the words “expects,” “intends,” “anticipates,” “estimates,” “predicts,” “believes,” “should,” “potential,” “may,” “forecast,” “objective,” “plan,” or “target,” and other similar expressions are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to a number of risks and uncertainties, including but not limited to general economic conditions, risks relating to Signet being a Bermuda corporation, the merchandising, pricing and inventory policies followed by Signet, the reputation of Signet and its brands, the level of competition in the jewelry sector, the cost and availability of diamonds, gold and other precious metals, regulations relating to customer credit, seasonality of Signet’s business, financial market risks, deterioration in customers’ financial condition, exchange rate fluctuations, changes in Signet’s credit rating, changes in consumer attitudes regarding jewelry, management of social, ethical and environmental risks, security breaches and other disruptions to Signet’s information technology infrastructure and databases, inadequacy in and disruptions to internal controls and systems, changes in assumptions used in making accounting estimates relating to items such as extended service plans and pensions, the impact of the acquisition of Zale Corporation on relationships, including with employees, suppliers, customers and competitors, and our ability to successfully integrate Zale’s operations and to realize synergies from the transaction.

For a discussion of these and other risks and uncertainties which could cause actual results to differ materially from those expressed in any forward-looking statement, see the “Risk Factors” section of Signet’s Fiscal 2015 Annual Report on Form 10-K filed with the SEC on March 26, 2015. Signet undertakes no obligation to update or revise any forward- looking statements to reflect subsequent events or circumstances, except as required by law.

Source: Signet Jewelers

Signet

David Bouffard, Vice President, Corporate Affairs
1-330-668 5369
DBouffard@jewels.com