Signet CEO Visits Woman Who Claimed Diamond Switch

Mark Light said sales had not declined following the bad publicity

Signet CEO Mark Light personally went to Baltimore to visit a woman who claimed her diamond was switched during a repair at Kay Jewelers, he told The Wall Street Journal.

That woman’s account, and others, were the subject of a BuzzFeed article that, along with questions about the company’s credit policies, has caused a steep fall in its stock.

Light said the company was still investigating the allegations.

He added that the company had not seen sales decline following the spate of bad publicity.

Still, he stressed to both The Wall Street Journal and CNBC that such incidents are rare.

“I just had our people do an analysis [of] how many customer complaints we’ve had over the last year alone, and it’s 0.2 percent complaints about our repairs,” he said. “That’s way too much for me.”

He added the idea that the company engages in systematic stone-switching is “absurd.”

JCK News Director