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Jewellery retailer Signet confirms 10% rise in Q1
10 Jun '05
3 min read
The bad debt ratio was comparable to the first quarter of last year.
United Kingdom (circa 30% of Group annual sales)
As previously indicated, the period saw a marked deterioration in the general retail environment. Consequently like for like sales fell by 6.2% resulting in an operating loss of £0.4 million (Q1 2004/05: profit £2.6 million). Total sales were £91.3 million (Q1 2004/05: £96.1 million) and gross margin showed an increase. H.Samuel's like for like sales were down 6.4% and those of Ernest Jones down 6.0%. Both chains saw a further increase of diamonds in the sales mix.
Group Costs, Financing Costs and Net Debt
Group costs were unchanged at £1.5 million. Financing costs were £1.6 million (Q1 2004/05: £2.1 million). Net debt at 30 April 2005 was £76.0 million (1 May 2004: £68.2 million).
Signet - One business, two markets Signet Group is the world's largest speciality retail jeweller and operates in the US and UK. As at 30 April 2005, Signet operated 1,769 speciality retail jewellery stores. These include 1,170 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 operated 599 stores in the UK, where the Group trades as "H.Samuel", "Ernest Jones" and "Leslie Davis."TheThese include 1,170 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 operated 599 stores in the UK, where the Group trades as "H.Samuel", "Ernest Jones" and "Leslie Davis."
United Kingdom (circa 30% of Group annual sales)
As previously indicated, the period saw a marked deterioration in the general retail environment. Consequently like for like sales fell by 6.2% resulting in an operating loss of £0.4 million (Q1 2004/05: profit £2.6 million). Total sales were £91.3 million (Q1 2004/05: £96.1 million) and gross margin showed an increase. H.Samuel's like for like sales were down 6.4% and those of Ernest Jones down 6.0%. Both chains saw a further increase of diamonds in the sales mix.
Group Costs, Financing Costs and Net Debt
Group costs were unchanged at £1.5 million. Financing costs were £1.6 million (Q1 2004/05: £2.1 million). Net debt at 30 April 2005 was £76.0 million (1 May 2004: £68.2 million).
Signet - One business, two markets Signet Group is the world's largest speciality retail jeweller and operates in the US and UK. As at 30 April 2005, Signet operated 1,769 speciality retail jewellery stores. These include 1,170 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 operated 599 stores in the UK, where the Group trades as "H.Samuel", "Ernest Jones" and "Leslie Davis."TheThese include 1,170 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 operated 599 stores in the UK, where the Group trades as "H.Samuel", "Ernest Jones" and "Leslie Davis."
Signet Group plc
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