Jewellery retailer Signet reported a strong first quarter today with like-for-like UK sales up 6.7%.
The owner of Ernest Jones and H Samuel saw UK turnover rise to £97.2m for the 13 weeks to 1 May, which included an “exceptionally good performance” over the Valentine’s Day period.
Ernest Jones saw a like-for-like rise of 10.2% while at H Samuel the figure was 4.2%.
The group operates 602 stores in the UK, including the Leslie Davis chain.
Across the whole group, which includes 1,115 US stores, like-for-like sales were up 8.7%, from £342.9m last year to £344.5m.
The total increase at constant exchange rates was 11.5%, but only 0.5% at actual rates, reflecting the weakening of the US dollar.
The like-for-like increase in the US, where Signet trades as Kay Jewelers and Jared The Galleria of Jewelry, was 9.5%.
Chief executive Terry Burman said the UK division had again outperformed the general retail market with Ernest Jones doing particularly well.
In March, Signet unveiled record profits of £211.9m for the 12 months to 31 January.
References: EGi News 06/05/04
