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Monday, 17th January 2005 (5690 views)

Jewellery giant Signet Group has recorded a 3.7 per cent rise in same-store sales for last year's holiday season, compared with 2003.<br/><br/>The world's largest specialty retailer reports that same-store sales for the 2004 holiday season were up 3.7 per cent over the previous year. <br/><br/>For the 48-week period up to January 1st, like for like sales rose 5.1 per cent.<br/> <br/>In the US, where the Group operates approximately 1,126 stores, same-store holiday sales soared by 4.9 per cent, compared to 2003. <br/><br/>In the UK, where the group operates approximately 600 stores under the names H.Samuel, Ernest Jones, and Leslie Davis, same-store sales rose 1.5 per cent, when compared to the previous year.<br/> <br/>Terry Burman, group chief executive, commented: "Group like for like sales increased by 3.7 per cent over the Christmas period building on the strong growth record of recent years. <br/><br/>"The group did not participate in the higher level of discounting that was generally evident on both sides of the Atlantic and gross margin was broadly maintained during the period."<br/><br/>"Profit before tax for 2004/05 is currently expected to be in the range of £209 million to £215 million, in line with market expectations, after taking account of the further weakening of the US dollar during December."<br/> <br/>Mr Burman said the US business significantly outperformed its main competition, with like for like sales rising by 4.9 percent despite strong challenges and total dollar sales rose 8.3 per cent. <br/><br/>He added: "A higher level of television advertising and the continuing implementation of our proven strategy contributed to the sales increase. <br/><br/>"Jared, the off-mall destination superstore concept, performed particularly well and Kay further enhanced its position as the number one specialty jewellery brand in the US."<img src="http://directnews.dehavilland.co.uk/dn.gif?feedid=196&itemid=7584875"/>

 

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