Signet puts in strong performance in the UK
Signet Jewelers, the largest retail jeweller in the US, UK and Canada, has reported strong Christmas trading at its UK division with sales rising by 9.7% in the eight weeks to 27 December.
While sales at Ernest Jones climbed by 11.9% year-on-year, sales at H Samuel grew by 8.1%. The combined total sales for both retailers was $215.1 million.
Signet attributed the sales increase to growth in diamonds including branded bridal. Other drivers included beads, watches and the growing popularity of Black Friday style shopping.
Mark Light, Signet chief executive, said: “Our UK division led our performance with an outstanding 9.7% comp increase – its best in 12 years and on top of a very strong comp last year. These results were driven by fresh, trend-right merchandise offerings and strategic collaboration with the Sterling division. “
