Thursday, 5th May 2005 (4098 views)

Signet has reported an increase in its like-for-like sales as it released its first quarter performance results today.

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.

In addition, total sales increased by 6.9 per cent.

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.

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."

Latest information for the period showed Signet operated 1,769 speciality retail jewellery stores.

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.

 

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