Signet’s Holiday Sales Down 3.7%
January 10, 08 by IDEX Online Staff Reporter
Signet Group’s like-for-like sales for the November-December period were down 6.8 percent over the previous year (down 8.1 percent in the U.S. and 3.1 percent in the UK). Total sales for the holiday season were down 3.7 percent.
Total sales year-to-date increased 3.7 percent. The group’s profit before tax for 2007/2008 is expected to be between $330 and $340 million.
In the U.S., where 74 percent of Signet’s annual sales are made, like-for-like holiday season sales were down 8.1 percent, and total sales fell by 3.6 percent. The company noted that the average selling price marginally increased in both Jared and the mall brand stores.
Signet operates specialty retail jewelry stores in the U.S. and UK, under the brand names Kay Jewelers, Jared the Galleria of Jewelry, H.Samuel, Ernest Jones and Leslie Davis.
