Signet’s sales slip 2.5%

During the 13-week term ending October 29, 2016, Signet Jewelers’ sales dipped 2.5 percent to $1.2 billion, as per reports. The company noted that it expected a drop in sales effected by the challenging market conditions. But it also noted that its ‘continuing ability to execute in a difficult environment led to results that were somewhat better than our expectations’. The company cited good performance from its diamond, gold, fashion and bridal jewellery segments, as per reports.

The company’s same-store sales slipped 2 percent. Its integration with the Zale brand it recently acquired is progressing well and is expected to deliver ‘cumulative synergies of $225 million to $250 million by end of next fiscal year’, the company stated, as per reports.