Speciality retail jeweller Signet like for like sales up 5.4% in Q3
06 Nov '06
3 min read
Signet Group plc the world's largest speciality retail jeweller, announced its sales performance for the 13 weeks and for the 39 weeks to 28 October 2006.
13 WEEKS TO 28 OCTOBER 2006 Group like for like sales rose by 5.4 percent in the 13 weeks to 28 October 2006. Total sales were up 9.5 percent at constant exchange rates (see note 1) and by 5.7 percent on a reported basis to 328.3 million pounds Sterling (13 weeks to 29 October 2005: 310.5 million pounds).
The increase in total sales for the quarter as reported has been adversely impacted by the retranslation of the first half US dollar sales at the cumulative average exchange rate for the year to date.
Group like for like sales rose by 5.3 percent in the 39 weeks to 28 October 2006. Total sales were up by 10.2 percent to 1,138.8 million pounds (39 weeks to 29 October 2005: 1,033.4 million pounds) reflecting an underlying increase of 9.8 percent at constant exchange rates.
The average US dollar exchange rate for the period was 1 pounds/$1.83 (39 weeks to 29 October 2005: 1 pounds/$1.84).
Terry Burman, Group Chief Executive, commented "The Group has had another good quarter with like for like sales up by 5.4 percent.
Total sales rose by 9.5 percent at constant exchange rates. For the year to date, like for like sales increased by 5.3 percent and total sales by 9.8 percent at constant exchange rates.
"In the quarter, the UK division continued its improving trend with like for like sales growth of 3.0 percent. Both Ernest Jones and H.Samuel showed increases for the period. The US business continued to perform strongly with like for like sales 6.5 percent ahead."
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