AKRON, Ohio, Feb. 25, 2021 /PRNewswire/ -- Signet
Jewelers (NYSE: SIG) today announced it will raise its U.S. minimum
wage to $15 an hour, continuing the
latest expansion of pay and benefits for its employees. The move
follows the company's Love Takes Care™ Appreciation Award, a bonus
paid recently to full-time and part-time hourly employees to
recognize their work during the pandemic. When fully rolled out by
the spring of 2022, the company's new minimum wage will cover all
full-time and part-time positions, including newly created roles
such as virtual jewelry consultants.
"As a purpose-driven company that puts our people first, we
believe that raising our minimum wage is the right thing to do,"
said Signet CEO Gina Drosos. "Our
team showed incredible agility, creativity and compassion this past
year – learning new capabilities that accelerated our
transformation, exceeded customers' expectations and delivered the
best holiday season we've had in nine years. As we enter the next
phase of our Path to Brilliance, we do so with the firm belief that
businesses that prioritize their team will deliver better results
by unlocking even more innovation."
Signet's ongoing investments in its people
The wage initiative is the latest example of Signet's ongoing
investments in its people over the last 12 months. Additional
- Newly created jobs – Since last spring, Signet has created
hundreds of new positions that support its transformation into a
best-in-class omnichannel retailer capable of meeting customers
wherever, whenever and however they want to shop. The new roles
include seasonal in-store concierges and 700 virtual jewelry
consultants. Also, Piercing Pagoda is actively recruiting 200
facial piercing artists as it expands its piercing service
- Evolved employee experience – New initiatives include
additional paid time off for parental care, community service,
voting, and vaccinations. In addition, Signet leaders including CEO
Gina Drosos have led candid employee
discussions about challenging societal issues such as social
justice and racism and have continued to accelerate inclusion as a
company priority, consistent with Signet's purpose and values.
- Love Takes Care™ store safety program – To fight COVID-19 in
its stores and distribution centers, the company last year
introduced a suite of robust health and safety protocols to
heighten safety for store employees, visitors and communities in
collaboration with health experts.
- Signet Team Member Relief Fund – Signet last year activated
this fund with new donations specifically to assist employees
experiencing financial challenges due to COVID. It has since helped
hundreds of employees.
"Signet's business is based on the enduring power of
relationships and love," said Mary Liz
Finn, Signet Chief People Officer. "Our team members
nurture relationships with customers and the many communities we're
a part of each day, in every part of our business. Continuing to
invest in our team members helps ensure that they can thrive at
work and at home, build long-term careers, and contribute to their
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,
Safe Harbor Statement
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 prospects, growth and strategies. 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. These forward-looking statements are not guarantees of
future performance and are subject to a number of risks and
uncertainties which could cause the actual results to not be
realized. For a discussion of the risks and uncertainties
which could cause actual results to differ materially from those
expressed in any forward looking statement, see the "Risk Factors"
and "Forward-Looking Statements" sections of Signet's Fiscal 2020
Annual Report on Form 10-K filed with the SEC on March 26, 2020 and quarterly reports on Form 10-Q
and the "Safe Harbor Statements" in current reports on Form 8-K
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."
Chief Communications Officer
VP, Media Relations
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SOURCE Signet Jewelers Ltd.