Jewellery retailer Signet total group sales rise 7.9%

25 Dec '07

3 min read

Signet Group plc, the world's largest speciality retail jeweller announced its unaudited third quarter results for the 13 weeks and 39 weeks to 3 November 2007.

In the 13 week period to 3 November 2007, Group total sales rose by 7.9% at constant exchange rates (see note 11); the reported increase was 10.0% to $678.7 million (13 weeks to 28 October 2006: $616.8 million). Like for like sales increased by 3.2%. Profit before tax was $2.5 million (13 weeks to 28 October 2006: $8.0 million) and operating profit was $7.5 million (13 weeks to 28 October 2006: $13.4 million).

In the 39 week period, Group total sales increased by 7.0% at constant exchange rates (see note 11); and by 9.4% on a reported basis to $2,280.5 million (39 weeks to 28 October 2006: $2,084.0 million).

Like for like sales were up by 3.2%. Profit before tax declined slightly to $111.5 million (39 weeks to 28 October 2006: $113.6 million) and operating profit was $124.4 million (39 weeks to 28 October 2006: $125.7 million). The average exchange rate for the period was £1/$2.00 (39 weeks to 28 October 2006: £1/$1.83). Earnings per share were unchanged at 4.2c.

In the 13 week period to 3 November 2007, total sales increased by 10.1% to $488.2 million (13 weeks to 28 October 2006: $443.4 million). Like for like sales were up by 2.5%, with August and September being stronger than October. US operating profit was $11.5 million (13 weeks to 28 October 2006: $19.1 million).

More Signet Group plc News... More Fashion News - United Kingdom...