The Newsroom

Investigations  /  01.08.2018

Signet Jewelers Ltd.

Signet Accused of Failing to Reveal True Negative Impact of its IT System Conversion

According to the complaint, on October 23, 2017, Signet announced the successful completion of the first phase of the company’s strategic outsourcing of its in-house credit program. Signet emphasized that it “has allowed us to reduce our outstanding debt and return capital to our shareholders.” While touting the promising potential of the company’s new credit program, Signet failed to disclose that the magnitude of in-store process changes related to the program were negatively impacting sales. On November 21, 2017, Signet revealed that its Q3 2017 same store sales were down five percent due to disruptions in the company’s IT systems and processes during the credit outsourcing transition. On this news, Signet’s stock fell $23.05 per share, or over 30%, to close at $52.79 per share on November 21, 2017.

Shareholder Information

  • Please Note: Neither the submission to nor the receipt of information by Robbins Arroyo LLP or one of its attorneys through this website constitutes an agreement by our firm to represent the individual and does not create an attorney-client relationship. Please do not send confidential or sensitive information through this website. This information should be communicated through a direct contact with an individual at the firm.

Please Note: Neither the submission to nor the receipt of information by Robbins Arroyo LLP or one of its attorneys through this website constitutes an agreement by our firm to represent the individual and does not create an attorney-client relationship. Please do not send confidential or sensitive information through this website. This information should be communicated through a direct contact with an individual at the firm.

How can we help you?

CONTACT US TODAY | 1-800-350-6003 or info@robbinsarroyo.com

Tell us your concerns