Signet's Q1 Sales Rise to $814.3 million
May 10, 07 by IDEX Online Staff Reporter
Terry Burman, Chief Executive of the Signet Group, warned Thursday that the trading environment in the U.S. “appears to have weakened”. Signet Group like-for-like sales rose 3.1 percent in the first quarter of 2007. Total sales for the company were up 10.9 percent to $814.3 million. At constant exchange rates, the increase was 8.1 percent after taking into account the weakening of the U.S. dollar.
Signet is the world's largest specialty retail jeweler.
U.S. like-for-like sales on an underlying basis were up 1.9 percent, while in the UK, like-for-like sales were up 2.6 percent from the fourth quarter of 2006, particularly in Ernest Jones stores.
Sales in the U.S. totaled $574.5 million, remaining the main market for the Group. Sales in the UK and Ireland stood at $159.8 million for the quarter.
