Signet Jewelers Sees Strong US Performance in Q3, UK Weak

(IDEX Online News) - Signet Jewelers’ group sales increased 5 percent to $641.8 million in the quarter ended October 31 and same store sales increased by 7.2 percent, the company announced Tuesday. Pre-tax income totaled $12 million compared to a $13.3 million loss in the third quarter of 2009.

In the U.S., total sales were up by 8.8 percent to $497 million and same store sales increased by 9.7 percent. Operating income increased to $25.7 million.

Conversely, the company’s UK division saw total sales decrease 6.2 percent to $144.8 million as same store sales were down by 0.6 percent, leading the division to a an operating loss of $1.6 million.

Year-to-date, total group sales rose by 4.3 percent to $2.17 billion, backed by a 6.8 percent rise in sales in the U.S. Operating income increased by 85.6 percent to $162 million and pre-tax income rose 131.6 percent to $140.8 million. 

“We are delighted with our third quarter results,” CEO Terry Burman said today. “In particular, the 9.7 percent U.S. same store sales increase was a very good performance, which drove strong operating leverage and a return to third quarter profitability.”