Signet Q2 Sales +11% to $797.6 Million

(IDEX Online News) – Signet Jewelers Limited reported a 10.8 percent increase in sales to $797.6 million in the second quarter. Same store sales at the world's largest specialty retail jeweler popped 9.9 percent in the period.

The rising revenues resulted in income before income taxes and diluted earnings of $99.8 million, up from $54.7 million in the second quarter of the previous fiscal year.

Net income for the second quarter of fiscal 2012 increased by 71.3 percent to $66.3 million.

The U.S. is growing in dominance for the group, accounting for 80.6 percent of sales ($643 million) in the quarter. Same store sales in the U.S. soared 12.2 percent compared to the 1.4 percent increase by the group's UK stores.

CEO Mike Barnes said the record results reflect the ongoing success of Signet's strategies to present differentiated and sought-after product ranges and develop compelling branded offerings.