Signet's UK division post strong like-for-like sales growth
Signet, the owner of H Samuel and Ernest Jones, has reported its highest UK fourth-quarter like-for-like sales increase in 13 years.
In the 13 weeks to 31 January, UK like-for-like sales rose by at 7.5%. In addition, the division achieved its best operating profit in three years.
US based Signet said the UK performance was driven by strategic initiatives to grow diamond sales as well as strong sales of fashion watches.
The number of transactions and average transaction price for the division increased by 1.6% and 7% respectively, due to a strong performance across the merchandise portfolio which includes watches, branded fashion, and branded bridal.
Mark Light, chief executive of Signet, said: “We had an outstanding finish to another strong year of growth for Signet.
“The disciplined execution of our focused strategies drove broad-based success across all of our divisions and store brands.”
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