Disappointing Christmas takes shine off Signet
Like for like sales for the 8 weeks to 29 December 2007 were down 3.1 per cent.
At home the group said like for like sales fellin the Christmas period but are ahead for the year to date and added that like-for-like sales in the US were disappointing.
Terry Burman, Group Chief Executive, said ‘In a very challenging consumer environment on both sides of the Atlantic, Group like for like sales were down 6.8 per cent over the eight week period. Profit before tax for 2007/08 is currently expected to be between $330 million and $340 million. Against the background of more difficult economic conditions, the Group’s strong balance sheet, superior operating metrics and sector leading execution are vital medium and long term competitive advantages.’
‘In the US, the like for like sales performance over the Holiday season was clearly disappointing. We remain focused on implementing our proven strategy and on gaining profitable market share.’
