Signet Q4 Sales Edge Up in Tough Market to $3.7 Billion

U.S. sales, reflecting 73.8 percent of total group sales, totaled $2.705 billion. Like for like sales in the U.S. declined 1.7 percent. UK sales amounted to $959.8 million.

Group like for like sales for the last quarter declined by 6.7 percent while total sales decreased by 6.1 percent on a reported basis to $1.385 billion, reflecting an underlying decrease of 3.7 percent at constant exchange rates.

U.S. quarterly sales of $1 billion dollars were a 7.2 percent decline on a reported basis. Like for like sales in the U.S. declined a sharp 8.6 percent.

According to Terry Burman, Group chief executive, “In the fourth quarter, the U.S. business faced a very difficult environment with January adversely impacted by a change in promotional activity. The UK division had a disappointing Christmas period but saw some improvement in January.

“For the year as a whole, the U.S. business executed its space growth plan and achieved a 4.1 percent increase in total sales on a 52-week basis. The UK division's like for like sales increased by 2 percent, a good performance given the very challenging fourth quarter.”