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Home / Knowledge / News / Fashion / Fine jewelry retailer Signet's sales grow 12.8%

Fine jewelry retailer Signet's sales grow 12.8%

06
Feb '06
World's largest speciality retail jeweller, Signet Group plc announced its sales performance for the 13 weeks and year ended 28 January 2006.

Group sales increased by 12.8 percent to 719.1 million pounds Sterling in the 13 weeks to 28 January 2006 at constant exchange rates sales were up by 5.5 percent.

Like for like sales rose by 1.8 percent.

Sales figures in this announcement have been reported using International Financial Reporting Standards ("IFRS").

52 WEEKS TO 28 JANUARY 2006

Group sales increased by 8.5 percent to 1,752.4 million pounds in the 52 weeks to 28 January 2006 at constant exchange rates sales were up by 6.1 percent, the US dollar having strengthened from $1.86/1 pound to $1.80/1 pound.

Group like for like sales rose by 2.4 percent.

Terry Burman, Group Chief Executive, commented, "In the fourth quarter, the US business again significantly outperformed its main competition with like for like sales up by 6.4 percent.

In the UK, trading conditions remained difficult and like for like sales declined by 8.6 percent.

"For the year as a whole, the Group benefited from a combination of strong space and like for like sales growth in the United States which more than offset the effect of the trading environment in the UK."

Signet operated 1,814 speciality retail jewellery stores at 28 January 2006; these included1,221 stores in the US, where the Group trades as "Kay Jewelers," "Jared The Galleria Of Jewelry" and under a number of regional names.

At the same date Signet also operated 593 stores in the UK, where the Group trades as "H.Samuel," "Ernest Jones" and "Leslie Davis.

Signet Group plc


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