Overview Key strengths Key risks Robust market presence serving a wide range of consumers. Operates in an intensely competitive and highly discretionary industry. Diversified banner portfolio of well-recognized physical and digital brands. Susceptible to commodity cost fluctuations and supply chain risks due to heavy reliance on diamonds. Enhanced digital presence and continued investment to develop omnichannel capabilities. Significant seasonality, with substantial sales and cash flow generated in the fourth quarter. We anticipate Signet?s S&P Global Ratings-adjusted leverage will be high-1x over the next 12-18 months. This is modestly higher than its S&P Global Ratings-adjusted leverage of 1.5x at the end of 2022 (ended January 2023) and 1.4x in the prior year and is due to lower projected sales and profitability.
