Signet’s UK division same-store sales up 9.7%, a record in 12 years

Signet Jewelers Limited, the largest specialty retail jeweller in the US, UK and Canada announced its sales for the eight weeks ended December 27, 2014, a period it notes as the holiday season. Mark Light , Chief Executive Officer, commented: "Our Company performed well during the holiday period delivering increased same store sales across all divisions driven by the continued successful execution of our product, marketing and omni-channel strategies. This is particularly pleasing given the amount of change we have dealt with during the course of the fiscal year.”

Its same-store sales for its Sterling Jewelers, Zale and UK divisions, together rose 3.6 percent. A highlight was the performance of the UK division, which garnered a 9.7 percent increase in same-store sales, the best in 12 years, as per the company. UK Jewelry division sales increased due to growth in diamonds including branded bridal, besides beads, watches, and the growing popularity of Black Friday-style shopping.

Light further added, “We resisted deep promotions and protected profitability which helped enable us to reaffirm Signet's financial guidance.” Zale division results were driven primarily by incremental investments in marketing, branded merchandise, and strength in Canada. Diamond collections in bridal and fashion performed particularly well. In the Sterling Jewelers division, branded bridal and select diamond fashion jewelry collections performed well.

E-commerce sales increased 90.9 percent, and, excluding the Zale division, increased 20.0 percent. As a percent of Signet's holiday season's total sales, ecommerce increased 160 basis points. Each division delivered higher ecommerce growth and penetration relative to total sales.