Signet Second Quarter Same Store Sales Down 5.5%

Signet Jewelers, the world’s largest specialty retail jeweler, has reported total group sales of $710.9 million in the second quarter, a 7.5 percent drop in same store sales compared to the same quarter last year. In the first half of the fiscal year, group revenues declined 4 percent to $1.47 billion.

U.S. same store sales were down 5.5 percent in the second quarter, “slowing a little from that of the first quarter after the Valentine’s Day period,” according to chief executive Terry Burman. 

“While the outlook on both sides of the Atlantic remains uncertain, the Group will continue to seek to capitalize on market share opportunities with a strong focus on customer service and merchandise initiatives,” Burman added.

Signet is parent company of Kay Jewelers and Jared chains.