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Thursday, 5th February 2004 (6086 views)

The world's largest speciality retail jeweller, Signet, has announced its fourth quarter performance figures, with like for like sales rising by seven per cent.<BR/><BR/>Analysts say the figures are an indication of current demand for precious metals such as gold, with total group sales up by 9.7 per cent at £659.7 million.<BR/><BR/>Signet includes companies in the US and a host of regional names, as well as UK stores such as H Samuel, Ernest Jones and Leslie Davis also part of the group.<BR/><BR/>The group offers a range of gold products, with white, yellow and two colour gold products available for both men and women, with a variety of designs, from 9 to 18 carat gold.<BR/><BR/>UK business appeared to do best in the results, suggesting a greater demand from consumers, with like for like sales increasing by 5.5 per cent for the year. Stores Ernest Jones and H Samuel did best with sales increasing by 10.3 per cent and 4.3 per cent respectively.<BR/><BR/>Looking at US results, chief executive of the group, Terry Burman, said: 'In the US trading conditions improved as the year progressed, culminating in a very good fourth quarter when like for like sales were up by 7.2 per cent. The division consistently outperformed its main competition during the year and gained further market share with a 4.6 per cent like for like sales increase.'<BR/><BR/>Sales were good for the Christmas period and Mr Burman explained that January performed well, building on the Christmas trend.<BR/><BR/>At the time figures were compiled, Signet was operating 1,707 jewellery stores.

 

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