Signet Jewelers Issues Statement Regarding Its Longstanding Commitment to Superior Customer Service and Rigorous Product Quality Procedures

HAMILTON, Bermuda–(BUSINESS WIRE)–Signet Jewelers Limited (“Signet”) (NYSE:SIG), the world’s largest
retailer of diamond jewelry, today issued the following statement
responding to misleading allegations about its business practices and
reaffirming its rigorous product quality practices:

“Signet Jewelers’ entire team culture is directed toward ensuring that
we earn and maintain customer trust. Signet Jewelers has a 100-year
history of providing products of impeccable quality and delivering
superior customer service. This commitment to customer care has allowed
Signet to satisfy many millions of customers, year after year. We
understand that every piece of jewelry is much more than an accessory –
that it is often a reflection of a deeply personal and meaningful
moment. Signet has in place vigorous product quality procedures that are
consistently monitored. Our teams review the characteristics of the item
with the customer both when they drop their jewelry off and when they
pick it up following service or repair to ensure their confidence in the
safe return of their original piece. Although our customer service team
has not received an unusual number of complaints related to these
procedures, we take every customer concern seriously and make every
effort to understand, resolve and learn from each one – and when issues
arise, we do everything we can to make things right. In our design and
service centers, we manage more than 4,000,000 service and repair
transactions each year, and over 99% are completed without negative
customer feedback. Of those generating negative customer feedback, many
are related to either repairs taking longer than expected due to our
high standards, or shipping delays, which we work diligently to address
in cooperation with our shipping partners. Signet is an industry leader
and is an accredited member of the Better Business Bureau with an A+
rating.

In addition, we strongly object to recent allegations on social media,
republished and grossly amplified, that our team members systematically
mishandle customers’ jewelry repairs or engage in “diamond swapping.”
Incidents of misconduct, which are exceedingly rare, are dealt with
swiftly and appropriately.

Signet Jewelers remains firmly committed to responding to all customer
concerns, upholding the highest standards of quality and service and
continuing to maintain our customers’ trust.”

Mark Light, Chief Executive Officer of Signet Jewelers, said “The trust
of our customers is not something we take lightly. It has been an honor
to help our customers celebrate life and express love through our high
quality jewelry for almost 100 years, and dedication to superior
customer service and quality control is integral to who we are and how
we conduct business. Our guests are our most precious commodity, and we
are committed to maintaining their trust.”

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 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.

Contacts

Signet Jewelers
Investors:
James Grant, +1 (330) 668-5412
VP
Investor Relations
or
Media:
David Bouffard, +1 (330)
668-5369
VP Corporate Affairs, Signet Jewelers