Sales up at Signet 13th June 2006

Like for like sales have seen an increase from major global jewellery retailer Signet during the first quarter of 2006.

It reported that like for like sales were up by 2.8 per cent, with total sales up by 13.7 per cent, to £419.6 million.

The company said that sales figures had also been damaged by the late timing of Mother's Day in the US this year.

Sales were strongest in the $59 billion US jewellery market, where like for like sales rose by 3.9 per cent, whereas like for like sales were down slightly by 0.7 per cent in the UK.

"This was a good performance given the adverse impact of the timing change of Mother's Day in the US and the continuation of demanding trading conditions in the UK," said Terry Burman, group chief executive.

"In the US, like for like sales were up by over seven per cent after adjusting for the change in timing of Mother's Day."

Signet's jewellery store brands include Kay Jewelers and Jared The Galleria Of Jewelry in the US.

It also trades as H Samuel, Ernest Jones and Leslie Davis in the UK.

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