Signet pushes up US sales
Jewellery retailer combats tougher market
July 8 2003
Signet has seen its US sales increase despite challenging trading conditions.
The specialist jewellery retailer told shareholders at its AGM in London that US sales, which account for around 70 per cent of the business, “have demonstrated an improving trend” in the second quarter.
Chairman James McAdam also said UK trading has continued at a satisfactory level.
Signet has seen its US income affected by the weaker dollar as well as lower consumer spending. In the first quarter, group like-for-like sales rose by 2.2 per cent, with 1.1 per cent increase in the US balanced by a stronger 5.4 per cent increase in the UK.
Signet operates more that 1,600 jewellery stores, including the US Kay Jewelers and Jared
The Galleria Of Jewelry stores in te US, and H.Samuel, Ernest Jones and Leslie Davis in the UK.
