GENERAL MERCHANDISE NEWS
Signet’s like for likes rise
10 August, 2007 | by Retail Bulletin
Signet said like-for-like sales rose by 3.4 per cent in its second quarter with total sales ahead by 7.4 per cent.
Ernest Jones saw sales up 9 per cent on a like-for-like basis in the 13 weeks to 4 August, while H Samuel saw trading up 4.4 per cent. Total sales were up by 7.4 per cent on a reported basis to $787.2 million. The US business, comprising the Kay Jewelers and Jared the Galleria of Jewelry brands, has failed to match UK trading since the start of the year and has dragged down overall performance. Terry Burman, Group Chief Executive, commented, ‘In the first half Group like for like sales were up 3.2%. Against the background of a challenging retail environment in their respective markets, both divisions performed well.
