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Signet Group 52 weeks sales decline by 0.7 percent
25
Feb '08
Signet Group plc the world's largest speciality retail jeweller, announced its sales performance for the 13 and 52 weeks ended 2 February 2008.

The comparable periods for reported sales are the 14 and 53 weeks to 3 February 2007. For sales at constant exchange rates and like for like sales the comparable periods are the 13 and 52 weeks to 3 February 2007.

13 weeks to 2 February 2008:
Group like for like sales declined by 6.7% in the 13 weeks to 2 February 2008. Total sales decreased by 6.1% on a reported basis to $1,384.8 million (14 weeks to 3 February 2007: $1,475.2 million) reflecting an underlying decrease of 3.7% at constant exchange rates.

The breakdown of the sales performance was as follows:
(a) For reconciliation to reported sales see note 1.
(b) H.Samuel like for like sales were down by 1.2% and Ernest Jones by 2.2%.

52 weeks to 2 February 2008:
Group like for like sales declined by 0.7% in the 52 weeks to 2 February 2008. Total sales increased by 3.0% on a reported basis to $3,665.4 million (53 weeks to 3 February 2007: $3,559.2 million) reflecting an underlying increase of 3.2% at constant exchange rates (52 week basis - see note 1).

The average US dollar exchange rate for the period was £1/$2.00 (53 weeks to 3 February 2007: £1/$1.88).
(c) For reconciliation to reported sales see note 1.
(d) H.Samuel like for like sales were up by 1.3% and Ernest Jones by 2.9%.

Terry Burman, Group Chief Executive, commented, “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 had a disappointing Christmas period but saw some improvement in January.


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