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AKRON, Ohio, Jan. 28, 2021 /PRNewswire/ -- Signet Jewelers Limited ("Signet") (NYSE:SIG), the world's largest retailer of diamond jewelry, today announced that for the third consecutive year it has earned inclusion in the Bloomberg Gender-Equality Index (GEI).
"Signet is proud to be among an elite group of companies worldwide to be included in the Bloomberg Gender-Equality Index—and among an even smaller group to earn the recognition three years in a row," said Virginia C. Drosos, Chief Executive Officer. "With Diversity, Equity and Inclusion one of our core values, we are committed to fostering a work environment where all employees feel respected and differences are celebrated. Our commitment to fairness, opportunity and integrity has created a culture that empowers women to seek and excel in positions of leadership."
Studies show that diversity unlocks greater innovation and stronger business results. On January 14, Signet announced its best holiday results in nine years with same-store sales up 5.6% year-over-year, underscoring its ability to pivot in challenging conditions.
Guided by its core values and its Purpose to Inspire Love, Signet proudly fosters a diverse, inclusive and discrimination-free workplace for all employees. Today, women comprise 50% of Signet's board of directors, up from 33% in Fiscal Year 2017, and its four board committee chairs are women. Women hold 42% of Signet's senior management positions (vice president and above), and 82% of Signet team members represent gender or ethnic diversity. The company is advancing ethnic diversity, too – for instance, it recently achieved a 44% increase in Black and African American representation at the director and above level.
"This recognition highlights our ongoing commitment to recruit, develop and retain an increasingly diverse workforce companywide," said Reginald Johnson, Chief Diversity Officer. "We're making strides annually because we believe that companies like ours – and society, in general – can prosper by uniting people regardless of gender, gender identity, race, sexual orientation, age or ethnicity."
Signet is one of only 380 companies across 11 sectors to be included in the 2021 GEI, which expanded in 2021 to represent 44 countries and regions. Companies range from retail, automotive and banking to consumer services, construction and engineering, but Signet is the only specialty jewelry retailer to be recognized.
The GEI brings transparency to gender-related practices and policies at publicly listed companies increasing the breadth of environmental, social, governance (ESG) data available to investors. The comprehensive, transparent GEI scoring methodology allows investors to assess company performance and compare across industry peer groups.
The reference index measures gender equality across five pillars: female leadership and talent pipeline, equal pay and gender pay parity, inclusive culture, sexual harassment policies and pro-women brand.
"The companies included in the 2021 GEI are expanding the ESG data universe to include gender-related data that investors are demanding today," said Peter T. Grauer, Chairman of Bloomberg. "Their commitment to disclosure is making the business case for inclusion and driving transparency in the markets."
Through disclosure of gender-related metrics using the GEI framework, the firms included in the 2021 GEI have committed to providing a comprehensive look at their investment in workplace gender equality and the communities in which they operate, raising the bar of what should be expected from other companies within the same industry. Signet ranked in this year's index for scoring at or above a global threshold established by Bloomberg to reflect a high level of disclosure and overall performance across the framework's five pillars.
Both the framework and the GEI are voluntary and have no associated costs. The GEI is a reference index and is not for use as a financial benchmark. The index is not ranked. While all public companies are encouraged to disclose supplemental gender data for their company's investment profile on the Bloomberg Terminal, those that have a market capitalization of $1 billion are eligible for inclusion in the index. To learn more, visit the GEI website.
Chief Communications Officer
About Signet Jewelers
Signet Jewelers Limited is the world's largest retailer of diamond jewelry. Signet operates approximately 2,900 stores primarily under the name brands of Kay Jewelers, Zales, Jared, 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.
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SOURCE Signet Jewelers Ltd.