Signet figures sparkle in the UK but held back by US
H.Samuel and Ernest Jones outperforming the UK retail sector.
Group like for like sales declined by 2.5 per cent in the first quarter. Total sales were up by 1.0 per cent on a reported basis to $822.3 million (13 weeks to 5 May 2007:$814.4 million) reflecting an underlying increase of 0.7 per cent at constant exchange rates. Terry Burman, Group Chief Executive, commented, ‘US like for like sales were down 4.7%, reflecting a difficult trading environment partly offset by better
weather over Valentine’s Day. The results from the price increases implemented in the US in February and March remain encouraging, although a full evaluation will only be completed in the summer. In the UK, like for like sales rose by 5.3%, with both H.Samuel and Ernest Jones outperforming the UK retail sector in
a demanding marketplace.’
