GENERAL MERCHANDISE NEWS
US slide takes sparkle off Signet
7 February, 2008 | by Retail Bulletin
Signet confirms problems in the US remain with no uplift in sales since Christmas.
Sales in the period fell 6.7 per cent on a like-for-like basis with the UK down 1.7 per cent and the US dropping by 8.7 per cent.
For the year overall sales fell by 0.7 per cent and a 2 per cent rise in the UK was offset by a 1.7 per cent drop in the US. On a constant currency basis, sales grew by 3.2 per cent.
“In the fourth quarter, the US business faced a very difficult environment with January adversely impacted by a change in promotional activity. The UK division, H Samuel and Ernest Jones, had a disappointing Christmas period but saw some improvement in January,” said chief executive Terry Burman.
