Signet Jewelers Posts Record Q3 Sales of $716 Million
November 21, 12 by IDEX Online Staff Reporter
(IDEX Online News) – Signet Jewelers reported record earnings in the third quarter. Total sales of $716.2 million for the quarter increased 0.8 percent compared to last year.
Group same store sales were up 1.4% in the October 27 ending quarter.
Sales by the U.S. division were $575.6 million up 2.2% year-over-year. Same store sales in the U.S. increased 1.2%, driven primarily by Kay, which saw a 5.5% increase in same store sales.
In the UK, sales of $140.6 million compared declined 4.7% compared to last year despite a 2.3 percent increase in same store sales.
CEO Mike Barnes said Superstorm Sandy created some disruption and November sales so "has been challenging."
He also reported that they will convert the majority of the recently purchased Ultra stores to Kay Outlets.
