3/8/2023 0 Comments Brilliance jewelers![]() ![]() Of the 4 Cs of diamonds, cut is what matters the most, as it can affect over 50% of the value of a diamond. These diamonds achieve the highest cut grade possible on both the GIA and AGS grading reports. Each Brilliance Diamond® comes with two certificates: one from GIA and one from AGS. The use of the words "expects," "intends," "anticipates," "estimates," "predicts," "believes," "should," "potential," "may," "preliminary," "forecast," "objective," "plan," or "target," and other similar expressions are intended to identify forward-looking statements.This process means that each diamond has been carefully chosen to be considered a Brilliance Diamond®. 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. This release contains statements which are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Further information on Signet is available at See also and Safe Harbor Statement: ![]() Samuel, Ernest Jones, Peoples, Piercing Pagoda, and and the jewelry subscription service, Rocksbox. Signet operates approximately 2,800 stores primarily under the name brands of Kay Jewelers, Zales, Jared, H. Signet is a Great Place to Work –Certified™ company and has been named to the Bloomberg Gender-Equality Index for three consecutive years. As a purpose-driven and sustainability-focused company, Signet is a participant in the United Nations Global Compact and adheres to its principles-based approach to responsible business. Signet Jewelers Limited is the world's largest retailer of diamond jewelry. Genesis continues to be Signet's long-term third-party credit servicer providing a seamless experience for our customers.Īlongside other financial service partners, such as Affirm and Progressive Leasing, the Company provides customers with a wide range of payment options. customers, which includes the recently enhanced agreements with Comenity Bank and Genesis Financial Solutions ("Genesis"). Further, when viewed within the breadth of Signet's payment options, the Company has strengthened its financial service offerings available to U.S. The arrangements with the Purchasers represent the final step in fully outsourcing Signet's credit offerings and removing consumer credit risk from its balance sheet. The agreements are in effect through June 30, 2023, at which point annual renewal options become available. Effective June 30, 2021, these agreements include the continued purchase of add-on receivables on the Purchasers' existing accounts, as well as the purchase of the Signet-owned credit card receivables portfolio for accounts that had been originated through Fiscal 2021. Signet recently finalized receivable purchase agreements with acquisition trusts, the beneficial interests of which are owned by investment funds managed by CarVal Investors, L.P. Importantly, and consistent with the Company's capital priorities, the extension and availability of the ABL provides the Company flexibility to pursue continued investments in the business, as well as an additional option to address Signet's 2024 maturity obligations for its senior notes and preference shares, if necessary.įinancial Services Transformation Removes Consumer Credit Risk Signet's $1.5 billion asset based lending facility ("ABL") has been extended by nearly two years until July 2026 with terms that reflect the Company's strengthened balance sheet and strong profitability. These actions further our mission to enable all consumers to Celebrate Life and Express Love ™ with our high-quality jewelry and services."Īsset Based Lending Extension Further Supports Capital Priorities Second, we have entered into new, long-term receivable purchase agreements, which provide us with improved terms and fully remove consumer credit risk from our balance sheet. ![]() "These actions, as well as S&P's recent upgrade of Signet's issuer credit rating resulting from our enhanced financial profile, demonstrate the progress we are making with our Inspiring Brilliance growth strategy.įirst, we have renegotiated our $1.5 billion asset based lending facility, which now matures in 2026, contains less restrictive covenants, and affords us greater financial flexibility. "We are excited to announce two significant financial milestones today," said Joan Hilson, Chief Financial & Strategy Officer. 3, 2021 /PRNewswire/ - Signet Jewelers Limited ("Signet") (NYSE: SIG), the world's largest retailer of diamond jewelry, today announced further updates to initiatives aligned with its Inspiring Brilliance strategies. ![]()
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