Signet Group’s revenues up 3% in Q2

At the close of its second quarter ending August 3, 2013, Signet Group recorded a 3 percent increase in revenues (on y-o-y basis) to $880.2 million, while profits slipped 4.7 percent to $67.4 million, reports say. The Group’s same-store sales were up 3.6 percent while the ecommerce channels churned 28.9 percent increase in sales to $31.2 million. Gross margin dipped 35.2 percent (the same was 36.4 percent in the said quarter last year).

Region-wise, revenues from U.S. rose 5.6 percent (on y-o-y basis) to $741.1 million and comparable-store sales rose 4.9 percent. Its portfolio of bridal, colored diamonds and watches delivered higher sales. Same-store sales in U.K. dropped 2.4 percent.

The Group intends to focus on its competitive strengths of sales and merchandise, advertising and ecommerce.