Signet Jewelers: successful completion of the first phase of strategic outsourcing of our credit portfolio

HAMILTON, Bermuda, 2017-Oct-25 — /EPR Retail News/ — Signet Jewelers Limited (“Signet”) (NYSE: SIG), the world’s largest retailer of diamond jewelry, announced today the completion of the first phase of the strategic outsourcing of its in-house credit program, including:

  • The sale of its prime-only credit quality accounts receivable to the Columbus, Ohio-based card services business of Alliance Data Systems Corporation (“Alliance Data”) (NYSE: ADS) for par value of $960 million at the time of closing;
  • Outsourcing of the credit servicing function of its existing and future non-prime accounts receivable to Genesis Financial Solutions (“Genesis”); and
  • Implementation of its lease-purchase program in partnership with Progressive Leasing.

Virginia C. Drosos, Chief Executive Officer of Signet, said: “The successful completion of the first phase of strategic outsourcing of our credit portfolio has allowed us to reduce our outstanding debt and return capital to our shareholders. In addition, the transaction enables us to optimize our business model with greater organizational focus on driving the growth of our OmniChannel retail platforms and delivering a true Customer First experience.”

Ms. Drosos added: “A key priority of our credit transaction has been to minimize impact on our credit customers and substantially maintain our net sales. This has been achieved through our partnership with Alliance Data and Genesis to continue to provide the full suite of our credit offerings for our customers, and adding an incremental lease-purchase financing option with Progressive Leasing. I want to thank our partners and Signet team for their hard work in executing this complex transaction on time.”

As previously announced, Signet and Alliance Data have entered into a seven-year program agreement under which Alliance Data will become the primary provider of credit, including funding, underwriting, servicing and associated program functions, to Signet’s U.S. stores. Signet will receive future payments from Alliance Data under an economic-sharing agreement.

Signet and Genesis have entered into a five-year servicing agreement, under which Genesis will provide credit servicing functions for Signet’s existing non-prime accounts receivable, as well as future non-prime account originations. Signet will retain the existing non-prime accounts receivable on its balance sheet and continue to originate the majority of new accounts until the expected completion of the second phase of credit outsourcing.

Finally, Signet implemented a lease-purchase program in partnership with Progressive Leasing across its U.S. stores. Lease-purchase is an incremental payment option available for customers who do not qualify for Signet’s credit programs, or do not wish to pursue a credit option to finance the purchase of our merchandise. Signet believes the program represents an incremental growth opportunity.

As part of the transaction, nearly all existing Signet team members supporting credit operations have been transferred to Alliance Data or Genesis, or retained by Signet to facilitate a smooth transition for Signet’s team members and customers.

In the first phase of strategic outsourcing of credit, Signet completed the sale of approximately 55% of its credit portfolio to Alliance Data and outsourced servicing of its full credit programs. Signet is in ongoing discussions with several interested funding partners related to the second phase, which is expected to be completed in the first half of calendar year 2018. In the second phase, Signet expects to sell remaining accounts receivable on its balance sheet at the time of the transaction and fully outsource new account originations to a third party.

Use of Proceeds, Accounting Considerations and Financial Impact

Signet received $960 million of proceeds from the sale of its prime-only accounts receivable to Alliance Data. As previously indicated, Signet directed the sale proceeds to fully repay its $600 million securitization facility and repurchase shares earlier in the year based on opportunistic market conditions. In the second quarter of Fiscal 2018, the Company repurchased 12% of its outstanding shares using cash on hand and revolver borrowings. Therefore, the remaining $360 million of sale proceeds will be used to repay the $350 million short-term loan used to finance the R2Net acquisition, which would otherwise be financed through revolver borrowings.

As previously disclosed, Signet will report a $10 million pre-tax, non-cash gain at closing reflecting the future profit sharing agreement with Alliance Data. Total transaction costs related to legal, advisory, implementation and retention expense were $36 million for the full year Fiscal 2018, of which $30 million was recognized in the third quarter and $6 million was recognized in the second quarter.

The table below provides information on the Fiscal 2018 Operating Profit and EPS impact of outsourcing on Signet’s financial statements as disclosed on August 24, 2017.

FY18 Net impact from outsourcing credit portfolio¹
Operating Diluted
Profit EPS
Elimination of bad debt, net of late fee income $10 $0.10
Elimination of finance charge income ($38) ($0.36)
SGA savings (net of servicing costs, Alliance Data net economic
profit sharing and elimination of in-house credit operations) $6 $0.06
Interest expense savings from repayment of $600 million ABS facility $0.04
Net impact ($22) ($0.16)
FY18 Net transaction costs including gain on sale of prime A/R
Operating Diluted
Profit EPS
Q2 gain recognized in reclassification of portfolio as assets held for sale $21 $0.19
Q2 transaction costs recognized² ($6) ($0.06)
Q3 transaction costs to be recognized² ($30) ($0.28)
Q3 beneficial interest gain recognized upon closing $10 $0.09
Net impact ($5) ($0.05)
Share repurchase acceleration
Operating Diluted
Profit EPS
Q2 share repurchases associated with A/R sale proceeds $ – $0.50
Net impact $ – $0.50
(1) Impact is almost entirely in Q4 of FY2018.
(2) Credit transaction costs related to legal, advisory, implementation and retention expense.

About Signet Jewelers 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, Piercing Pagoda and JamesAllen.com. 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, www.pagoda.com and www.jamesallen.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, the benefits of the credit portfolio sale including future financial and operating results, the timing and expected completion of the second phase of the credit outsourcing, general economic conditions, the impact of hurricanes on Signet’s business, 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 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 2017 Annual Report on Form 10-K filed with the SEC on March 16, 2017 and quarterly reports on Form 10-Q filed with the SEC. 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 Limited

Investors:

Signet Jewelers

James Grant, 1 330-668-5412

VP Investor Relations

James.Grant@SignetJewelers.com

or

Media:

Signet Jewelers

David Bouffard, 1 330-668-5369

VP Corporate Affairs

David.Bouffard@SignetJewelers.com

Signet Jewelers extends its “Conflict-Free” reporting under Section 1502 for four consecutive years

Signet Jewelers extends its “Conflict-Free” reporting under Section 1502 for four consecutive years

 

HAMILTON, Bermuda, 2017-Jun-02 — /EPR Retail News/ — Signet Jewelers Limited (“Signet”) (NYSE:SIG), the world’s largest retailer of diamond jewelry, recently submitted its fourth consecutive Conflict Minerals Report to the SEC in accordance with Section 1502 of the Dodd-Frank Act.

Signet was one of only four companies to have its Gold “Conflict-Free” filing with the SEC independently audited in line with the Section 1502 requirements in 2014, 2015 and 2016. Now Signet has extended its “Conflict-Free” reporting under Section 1502 for a fourth consecutive year.

Signet believes that a responsible, conflict-free supply chain is fundamental to the reputation of the jewelry industry. Signet is, therefore, committed to continuing our longstanding efforts to advance responsible sourcing throughout the global jewelry industry supply chain.

Coupled with Signet’s efforts to source “conflict free” gold, we also aim to lead the continuous improvement in the integrity of the global jewelry supply chain. To this end, over the last four years, our accomplishments include:

  • Signet is one of the founding members of the OECD’s Multi-Stakeholder Group which developed the Due Diligence Guidance for Responsible Supply Chains on Minerals from Conflict Affected and High-Risk Areas and which has been active in its further development and implementation. Signet is also a member of OECD’s expert working group developing the OECD Minerals Handbook covering guidance for all minerals.
  • We have collaboratively developed and launched the “open source” Signet Responsible Sourcing Protocols for Gold, 3Ts, Diamonds, Silver and Platinum Group Metals. We are actively developing a Protocol for Colored Gemstones, thereby covering all of the main materials used in the fine jewelry industry.
  • We have instituted a process of on-going dialogue and collaboration within the jewelry industry, governments, civil society, and other organizations, which has contributed to the consistency and harmonization of responsible sourcing standards for the jewelry industry and beyond.
  • Signet is the first major non-electronics industry company to be a member and support development of the Conflict Free Sourcing Initiative.
  • Signet’s position as a Founding and Certified Member of the Responsible Jewellery Council (RJC) has enabled us to encourage all of our Suppliers to become RJC members as well. The total number of Signet Suppliers who are RJC members has more than quintupled since 2014. Moreover, harmonization of industry standards with Signet’s Protocols has resulted in more efficient and consistent verification of responsible sourcing standards across the jewelry industry.

Signet believes that Section 1502 has been a global driving force in the supply chains of 3TG to establish and maintain responsible, conflict-free supply chains. Signet acknowledges that Section 1502 has had some unintended consequences leading some industry participants to avoid minerals from the DRC and neighboring countries. However, Signet believes that this can be corrected by amending Section 1502 to align with the OECD’s Due Diligence Guidance, whereby US companies are required to undertake and report on due diligence in their supply chains in accordance with the OECD Guidance. Thus, supplies from these “covered countries” can be sourced providing they are verified and certified as “conflict-free.”

For additional information on Signet Jewelers’ Responsible Sourcing efforts, please see our 2016 Corporate Social Responsibility Report: 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.ukwww.ernestjones.co.uk, www.peoplesjewellers.com and www.pagoda.com.

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

###

Signet Jewelers appoints former federal Judge Barbara S. Jones to conduct review of its workplace policies and practices

HAMILTON, Bermuda, 2017-Apr-20 — /EPR Retail News/ — Signet Jewelers Limited (“Signet”) (NYSE:SIG), the world’s largest retailer of diamond jewelry, announced today that its new Board Committee focused on Respect in the Workplace has appointed former federal Judge Barbara S. Jones, a partner at Bracewell LLP, to conduct a thorough review of the company’s policies and practices regarding equal opportunity and workplace expectations. The company first announced plans to commission the review last month during an earnings call.

“Judge Barbara Jones’ integrity is impeccable. She and her team have had a distinguished career in matters relating to workplace compliance issues and she will bring that experience to the company as she conducts a review of company policy and practices,” said Helen McCluskey, Signet Director and Chair of the committee. “Judge Jones will help us ensure our programs are functioning as intended and to identify areas where we can further improve.”

Judge Jones previously served a 16-year term in the U.S. District Court for the Southern District of New York, presiding over a wide range of cases. Prior to her U.S. District Judge nomination in 1995 by President Bill Clinton, she served as Chief Assistant to Robert M. Morgenthau, then-District Attorney of New York County. Along with workplace compliance issues, she has focused on corporate monitorships, internal investigations, arbitrations and mediations since leaving the bench.

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.ukwww.ernestjones.co.uk, www.peoplesjewellers.com and www.pagoda.com.

Source: Signet Jewelers Limited

Signet Jewelers

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

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

Signet Jewelers releases its Corporate Social Responsibility (CSR) Report

HAMILTON, Bermuda, 2017-Apr-18 — /EPR Retail News/ — Signet Jewelers Limited (“Signet”) (NYSE: SIG), the world’s largest retailer of diamond jewelry, today (April 17, 2017) released a Corporate Social Responsibility (CSR) Report that benchmarks the Company’s industry-leading responsible sourcing and global CSR initiatives.

The Signet Corporate Social Responsibility Report focuses on Signet’s four key pillars: People, Responsible Sourcing, Environmental Stewardship and Corporate Giving. This is the Company’s first formal CSR Report.

“We are committed to ensuring our jewelry is sourced and made responsibly, we continue our long tradition of giving back to the communities in which we live and work, we incorporate environmentally responsible best practices; and we champion our Team Members,” said Mark Light, Chief Executive Officer of Signet Jewelers.

Eugenia Ulasewicz, Signet Board Member and 2017 Incoming Chair of the CSR Board Committee said, “I would like to thank Dale Hilpert for all that he accomplished as Chair of Signet’s CSR Board Committee over the last three years that made this report possible. For Signet, our 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.”

Key highlights from Signet’s CSR Report include:

Responsible Sourcing

  • Signet leads the industry as 1 of 4 US companies to have reported a conflict-free gold supply chain for 3 consecutive years to the SEC, as verified through independent audits.
  • In 2016, the Company launched the Signet Responsible Sourcing Protocol for Diamonds, requiring suppliers to be in full auditable compliance in 2017. The Protocol is another protection to ensure due diligence on the source of all diamonds delivered to Signet.
  • Signet continues to work with industry, governments, trade associations and NGOs to drive change and ensure supply chain integrity.

Environmental Stewardship

  • Over the past four years, Signet has reduced its energy consumption by 24% in offices and retail space and saved over 2 million gallons of water by implementing efficiency measures.
  • Ongoing initiatives to further reduce its impact include employing best practices to optimize its transportation services and employing green building principles.

People

  • The Company launched a new “On the Move Challenge” in 2016 to encourage and support employees in their health and wellness. More than 4,200 employees around the globe participated in the program by setting personal goals, tracking their movement and sharing their successes.

Corporate Giving

  • Signet raised $10 million in 2016 alone through Team Member, Guest and Corporate contributions to support national, regional and local charitable organizations around the world.
  • Since 1999, Signet has raised nearly $60 million to support the lifesaving work of St. Jude Children’s Research Hospital®. This year, Signet expanded the number of US stores participating in its successful give-at-the-register program to help reach its goal of $90 million in contributions to St. Jude.

About Signet Jewelers

Signet Jewelers 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.

Contacts:
Investors:
James Grant
VP Investor Relations

Signet Jewelers
+1 (330) 668 5412

Media:
David Bouffard
VP Corportate Affairs

Signet Jewelers
+1 (330) 668 5369

Source: Signet Jewelers

Signet Jewelers Holiday Season total sales up 5.0% over the prior year

HAMILTON, Bermuda, 2016-01-13 — /EPR Retail News/ — Signet Jewelers Limited (“Signet”) (NYSE and LSE: SIG), the world’s largest retailer of diamond jewelry, today announced its sales for the eight weeks ended December 26, 2015 (“Holiday Season”) and guidance for the 13 weeks (“Fourth Quarter”) ending January 30, 2016.

Holiday Season Sales Highlights:

  • Total sales of $1,947.8 million, up 5.0% over the prior year.
  • Same store sales increased 4.9% compared to an increase of 3.6% in the prior year.
  • Financial guidance narrowed to top end of previously provided guidance.

Mark Light, Chief Executive Officer, said, “Signet delivered excellent holiday sales as a result of the successful execution of our product, marketing, and omni-channel selling strategies, as well as our superior customer experience. These results were driven by broad-based success across strategic store brands, merchandise categories and selling channels. The implementation of store operations initiatives in the third quarter combined with investment in our recently launched innovative merchandising and marketing programs positioned Signet well for a strong fourth quarter and beyond.

“The continuation of strong sales and profitability combined with operating expenses that were in-line with expectations, including as-anticipated credit-related expense trends, enabled us to narrow our fourth quarter earnings guidance as well as our same store sales guidance to the top end of the previously provided guidance.

“I would like to thank all Signet team members very much for their dedication, hard work, and solid execution of our strategies during the holiday selling period.”

Fourth Quarter Financial Guidance:

Currently Formerly
Same Store Sales 4.6% to 5.0% 3.5% to 5.0%
Earnings per Share $3.44 to $3.50 $3.30 to $3.50
Adjusted Earnings per Share $3.54 to $3.60 $3.40 to $3.60

Holiday Season Fiscal 2016 Sales Highlights:

Total sales were $1,947.8 million, up $93.4 million or 5.0%, compared to $1,854.4 million in the eight weeks ended December 27, 2014 (“prior year”). Total sales at constant exchange rate increased 6.3% compared to prior year. Same store sales increased 4.9% compared to an increase of 3.6% in the prior year driven primarily by mall-based and outlet concepts in the U.S. as well as Ernest Jones stores in the U.K. Signet’s e-commerce sales in the Holiday Season were $139.7 million, up $13.7 million or 10.9% compared to $126.0 million in the prior year.

  • Sterling Jewelers division results were driven primarily by higher sales at Kay Jewelers and the success of key collections and categories such as recently introduced Ever Us two-stone rings as well as diamond earrings and bracelets. Jared delivered higher sales year-over-year driven by the combined impact of new consumer-research-driven initiatives around store operations, marketing, and merchandising.
  • Zale division sales were driven by material increases at the flagship Zales stores as well as Piercing Pagoda kiosks. Ever Us and select other fashion and bridal brands were important drivers at Zales; as well as gold jewelry sales in the kiosk channel.
  • UK Jewelry division total sales were driven by higher same store sales largely offset by unfavorable foreign currency exchange rates. Same store sales increases were driven primarily by branded bridal, diamond fashion jewelry, and beads – most notably at Ernest Jones.

Quarterly Dividend:

Signet’s board declared a quarterly cash dividend of $0.22 per share for the fourth quarter of Fiscal 2016, payable on February 26, 2016 to shareholders of record on January 29, 2016, with an ex-dividend date of January 28, 2016. This reflects the Board’s confidence in the strength of the business, Signet’s ability to invest in growth initiatives, and the Board’s commitment to building long-term shareholder value.

Conference Call:

There will be a conference call today at 8:30 a.m. ET (1:30 p.m. GMT and 5:30 a.m. PT) and a simultaneous audio webcast and slide presentation available at www.signetjewelers.com. The slides are available to be downloaded from the website ahead of the conference call. The call details are: Dial-in 1-647-788-4901. Access code 3157781.

A replay of the conference call and a transcript of the call will be posted on Signet’s website as soon as is practical after the call has ended and will be available for one year.

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.ukwww.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 Jewelers

Investors:

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

or

Media:

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

Uta Werner joins the world’s largest retailer of diamond jewelry Signet Jewelers as Chief Strategy Officer

AKRON, Ohio, 2015-11-12 — /EPR Retail News/ — Signet Jewelers (“Signet”) (NYSE and LSE: SIG), the world’s largest retailer of diamond jewelry, announced thatUta Werner has joined the Company as Signet Chief Strategy Officer.

As Chief Strategy Officer, Werner will be responsible for strategy development and execution and will be focused on the identification of growth opportunities, strategic planning, and mergers and acquisitions. Werner’s other responsibilities include monitoring long-term trends, gathering competitive intelligence, driving cross-business-unit initiatives, and sustaining business model innovation. She will report to Signet Chief Executive Officer Mark Light and serve on Signet’s Executive Committee.

“Uta will help us further differentiate and strengthen our position as the world’s largest retailer of diamond jewelry,” said Light. “This role is critical to the transformation of Signet and the creation of an organization that supports Signet’s Vision 2020 and our future growth. Vision 2020 represents a well-planned strategic framework for growth and future success. We are all very excited for Uta to join the team at Signet and look forward to her contributing to our success.”

Prior to joining Signet, Werner was Executive Vice President, Global Product Leadership at Nielsen, a leading global performance management company that provides a comprehensive understanding of what consumers Watch and Buy. In this role, Werner led Nielsen’s Global Sales Effectiveness Practice, building a highly-differentiated Advanced Analytics business that helps consumer products manufacturers and retailers leverage Big Data to systematically optimize and manage in-store and on-line sales drivers. Werner has more than 20 years of experience as an advisor to senior management and investors, and prior to Nielsen was Chief Strategy Officer of Xerox Corporation , a Fortune 200 firm in the Technology / Business Process Services sector.

Werner holds the equivalent of an MS in Mathematics and an MBA from the Technical University in Aachen Germany, as well as a Master of Public Administration from the John F. Kennedy School of Government at Harvard University . She is also a Board Member of Forte Foundation , a non-profit consortium of major corporations and top business schools working together to launch women into fulfilling, significant business careers through access to business education, opportunities and a community of successful women.

About Signet Jewelers
Signet Jewelers is the world’s largest retailer of diamond jewelry. Signet operates approximately 3,600 stores primarily under the name brands ofKay 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.ukwww.peoplesjewellers.com and www.pagoda.com.

Source: Signet Jewelers

Signet Contact

Press: David Bouffard, Signet Vice President, Corporate Affairs

DBouffard@jewels.com, 1 (330) 668-5369