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Signet Jewelers Releases 2018 Corporate Social Responsibility Report

John Jannarone

HAMILTON, Bermuda–(BUSINESS WIRE)–Signet Jewelers Limited (“Signet”) (NYSE: SIG), the world’s largest
retailer of diamond jewelry, today released its 2018 Corporate Social
Responsibility (CSR) report that highlights the Company’s global CSR
initiatives.


The report includes Signet’s progress toward goals set across its four
CSR key areas: People, Responsible Sourcing, Environmental Stewardship
and Charitable Giving. For the first time, the company produced an
integrated CSR report with its annual report, streamlining the way
Signet communicates with stakeholders and investors.

“At Signet, we know that our sphere of influence goes beyond just the
places we do business,” said Virginia C. Drosos, Chief Executive
Officer. “We recognize that our people, values and culture require that
we take responsibility wherever we have an impact. Instilling trust
among our key stakeholders — investors, employees and customers — means
that we are transparent about our CSR goals, and that we must integrate
them into our daily operations.”

Signet is committed to leading in CSR in an authentic and sustainable
way. For example, Signet is one of very few public companies to have a
Board-level CSR Committee, which has been in place for five years. The
Committee provides strategic direction and governance oversight on goals
and progress for Signet’s four CSR key areas.

“The Board CSR Committee believes that our CSR commitment clearly
supports the company’s business strategy for long-term growth,” said
Eugenia Ulasewicz, Signet Board Member and Chair of the Board CSR
Committee. “CSR is central to our culture, reflected in our core values,
and essential for us to remain both an industry leader and a competitive
company.”

Highlights from Signet’s CSR report in each area include:

People

  • The only jewelry retailer selected for the 2019
    Bloomberg Gender Equality Index
    .
  • 74 percent of Signet’s field leadership are women.
  • 43 percent of senior management (VP and above) are women, as are 50
    percent of the Signet Board of Directors.
  • Over 11,000 Signet team members certified as experts in diamontology
    or gemology.

Responsible Sourcing

  • Signet leads the industry as 1 of 4 U.S. companies to have reported a
    conflict-free gold supply chain for five consecutive years to the U.S.
    Securities and Exchange Commission, as verified through independent
    audits.
  • More than 99 percent of gold sourced by Signet is verified
    conflict-free.
  • Signet is the first retailer to join De Beers’ innovative new
    blockchain program, Tracr. The program aims to establish a unique and
    completely secure way to trace diamonds.

Environmental Stewardship

  • Signet reduced its absolute energy consumption in the past year by 7
    percent and saved more than 11 million kilowatt hours.
  • Signet reduced its greenhouse gas emissions by more than 25 percent,
    versus Fiscal 2014.
  • Water consumption was lowered by more than 60 percent at Signet’s
    factory in water-scarce Botswana.

Charitable Giving

  • In 2018, Signet collectively raised nearly $6 million in 2018 for our
    national and international charitable giving partners.
  • Since 1999, Signet customers and team members have raised more than
    $71 million to support the lifesaving mission of St. Jude Children’s
    Research Hospital®.

Signet’s full 2018 CSR Report can be found at: CSR
Report
and its Annual Report is available at this link: Annual
Report
.

About Signet and Safe Harbor Statement:

Signet Jewelers Limited is the world’s largest retailer of diamond
jewelry. Signet operates approximately 3,300 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.comwww.zales.comwww.jared.comwww.hsamuel.co.uk,
www.ernestjones.co.ukwww.peoplesjewellers.comwww.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: our ability to
implement Signet’s transformation initiative; the effect of US federal
tax reform and adjustments relating to such impact on the completion of
our quarterly and year-end financial statements; changes in
interpretation or assumptions, and/or updated regulatory guidance
regarding the US federal tax reform; the benefits and outsourcing of the
credit portfolio sale including technology disruptions, future financial
results and operating results; deterioration in the performance of
individual businesses or of the company’s market value relative to its
book value, resulting in impairments of fixed assets or intangible
assets or other adverse financial consequences, including tax
consequences related thereto, especially in view of the company’s recent
market valuation; our ability to successfully integrate Zale Corporation
and R2Net’s operations and to realize synergies from the Zale and R2Net
transactions; general economic conditions; potential regulatory changes,
global economic conditions or other developments related to the United
Kingdom’s announced intention to negotiate a formal exit from the
European Union; a decline in consumer spending or deterioration in
consumer financial position; the merchandising, pricing and inventory
policies followed by Signet; Signet’s relationships with suppliers and
ability to obtain merchandise that customers wish to purchase; the
reputation of Signet and its banners; the level of competition and
promotional activity in the jewelry sector; the cost and availability of
diamonds, gold and other precious metals; changes in the supply and
consumer acceptance of gem quality lab created diamonds; regulations
relating to customer credit; seasonality of Signet’s business; the
success of recent changes in Signet’s executive management team; the
performance of and ability to recruit, train, motivate and retain
qualified sales associates; the impact of weather-related incidents on
Signet’s business, financial market risks; exchange rate fluctuations;
changes in Signet’s credit rating; changes in consumer attitudes
regarding jewelry; management of social, ethical and environmental
risks; the development and maintenance of Signet’s OmniChannel
retailing; the ability to optimize Signet’s real estate footprint;
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 credit outsourcing fees,
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; Signet’s ability to protect its intellectual property;
changes in taxation benefits, rules or practices in the US and
jurisdictions in which Signet’s subsidiaries are incorporated, including
developments related to the tax treatment of companies engaged in
Internet commerce; and an adverse development in legal or regulatory
proceedings or tax matters, any new regulatory initiatives or
investigations, and ongoing compliance with regulations and any consent
orders or other legal or regulatory decisions.

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 2019 Annual Report on Form 10-K filed with the SEC on April 3,
2019 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.

Contacts

Investors:
Randi Abada
SVP Corporate Finance Strategy &
Investor Relations
+1 330 668-3489
randi.abada@signetjewelers.com

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