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Thursday, 5th May 2005 (5831 views)

Signet has reported an increase in its like-for-like sales as it released its first quarter performance results today.<br/><br/>The largest speciality retail jeweller in the world reported a 3.3 per cent increase in like-for-like sales during the 13-week period from January 30th to April 30th 2005.<br/><br/>In addition, total sales increased by 6.9 per cent. <br/><br/>Terry Burman, group chief executive, commented: "The 3.3 per cent increase in group like-for-like sales was a solid result which illustrates the benefit of the company's geographic spread. <br/><br/>However, he added: "In the UK, as previously indicated at the time of the preliminary results announcement on April 6th, the period has seen a marked deterioration in the general retail environment. Divisional like-for-like sales declined by 6.2 per cent and trading conditions continue to be very difficult."<br/><br/>Latest information for the period showed Signet operated 1,769 speciality retail jewellery stores.<br/><br/>Stores include 1,170 stores in the US, where the group trades as Kay Jewelers, Jared The Galleria Of Jewelry and under a number of regional names. In addition, it operated 599 stores in the UK, where the group trades as H.Samuel, Ernest Jones and Leslie Davis.<img alt="track" src="http://directnews.dehavilland.co.uk/dn.gif?feedid=196&itemid=8432675"/>

 

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