THE RETAIL BULLETIN - The home of retail news
Lest we forget
HOME
RETAIL NEWS
RETAIL EVENTS
Fashion
Department Stores
Shopping Centres & Retail Parks
Home & DIY
Electricals
Health & Beauty
General Merchandise
Entertainment
Sports & Leisure
Retail Solutions
Food & Drink
Interviews
RETAIL INSIGHTS
RETAIL SOLUTIONS
ABOUT US
CONTACT US
SUBSCRIBE FOR FREE
Signet like-for-like sales remain flat in UK

Signet, the US owner of jewellers H Samuel, Ernest Jones and Leslie Davis, has reported flat like-for-like sales in the UK for the 13 weeks to end April but said that losses have narrowed year-on-year.

GENERAL MERCHANDISE

Signet like-for-like sales remain flat in UK

Signet, the US owner of jewellers H Samuel, Ernest Jones and Leslie Davis, has reported flat like-for-like sales in the UK for the 13 weeks to end April but said that losses have narrowed year-on-year.

UK like-for-like sales rose by only 0.2% with total sales rising 4.5% to $149.3m (£92.3m). Net operating loss in the UK decreased from $1.2m (£0.74m) to $0.2m (£0.12m) year-on-year. Like-for-like sales were more encouraging in the US, growing by 12.5%.

Gross merchandise margin in the UK declined by 30 basis points which Signet blamed on rising commodity costs, and higher VAT and currency exchanges.

Mike Barnes, CEO of Signet, said: “We are very pleased with our strong start to the year, leading to record results for the first quarter. Our performance was led by our US division, with the UK division continuing to operate well in a challenging economy."

He added: “We believe we continued profitable market share gains due to favourable reception to our product offerings as a result of superior quality and craftsmanship, attentive customer service and memorable marketing campaigns.”

H Samuel was the best performing Signet brand in the UK with like-for-likes up 2.7% and total sales at £49.1m. Like-for-likes sales decreased by 2.4% at Ernest Jones and Leslie Davis.

Signet has a total of 1,852 shops of which 1,314 are in the US.

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

RETAIL EVENTS

The Retail Design Seminar 2018
The Retail Design Seminar 2018
14 November 2018
The Cavendish Conference Centre
The Retail Design Seminar 2018
Omnichannel Futures Conference 2019
Omnichannel Futures Conference 2019
6 February 2019
Cavendish Conference Centre, London WG1 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy
Customer Engagement Conference 2019
Customer Engagement Conference 2019
5 June 2019
Cavendish Conference Centre, London W1
The 10th Annual Retail Customer Engagement Summit
AI in Retail Conference 2019
AI in Retail Conference 2019
18 September 2019
Cavendish Conference Center, 22 Duchess Mews, London W1G 9DT
Retail marketing is changing pace rapidly by making communication across all platforms personalised, relevant, efficient, and helpful. AI not only helps shoppers find a perfect product but also pre-empts the shopping behaviour and speeds up payment.
The HR Summit 2019
The HR Summit 2019
Tuesday 8 October 2019
The Cavendish Conference Centre, London W1
The 11th HR Summit 2019, The Cavendish Conference Centre, London W1, 8 October 2019
Fix The Dinosaur Roundtable 2018
Fix The Dinosaur Roundtable 2018
19 October 2018
The Euston Suite, The Hallam, 44 Hallam St, London W1W 6JJ
A Masterclass in IBMi Legacy Issues