Monday, 17th January 2005 (3994 views)

Jewellery giant Signet Group has recorded a 3.7 per cent rise in same-store sales for last year's holiday season, compared with 2003.

The world's largest specialty retailer reports that same-store sales for the 2004 holiday season were up 3.7 per cent over the previous year.

For the 48-week period up to January 1st, like for like sales rose 5.1 per cent.

In the US, where the Group operates approximately 1,126 stores, same-store holiday sales soared by 4.9 per cent, compared to 2003.

In the UK, where the group operates approximately 600 stores under the names H.Samuel, Ernest Jones, and Leslie Davis, same-store sales rose 1.5 per cent, when compared to the previous year.

Terry Burman, group chief executive, commented: "Group like for like sales increased by 3.7 per cent over the Christmas period building on the strong growth record of recent years.

"The group did not participate in the higher level of discounting that was generally evident on both sides of the Atlantic and gross margin was broadly maintained during the period."

"Profit before tax for 2004/05 is currently expected to be in the range of £209 million to £215 million, in line with market expectations, after taking account of the further weakening of the US dollar during December."

Mr Burman said the US business significantly outperformed its main competition, with like for like sales rising by 4.9 percent despite strong challenges and total dollar sales rose 8.3 per cent.

He added: "A higher level of television advertising and the continuing implementation of our proven strategy contributed to the sales increase.

"Jared, the off-mall destination superstore concept, performed particularly well and Kay further enhanced its position as the number one specialty jewellery brand in the US."

 

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