Signet recordes hike in sales

The Signet Group announced that it has noted increased group sales for the 13 weeks prior to November 3. The total group sales increased by 7.9% at constant exchange rates, while same store sales increased by 3.2%, during the said period.

Signet’s total sales in U.S. recorded a surge of 10.1% to value at $488.2 million, while same store sales hiked by 2.5%. The stores noted an operating profit of $11.5 million. Mentioning that the profit before tax was slightly below in the year to date, as compared to last year’s level, Terry Burman, Group CEO said that it reflected a more challenging retail marketplace in the US said commented. Burman also said that it would be difficult to realise what the analysts had predicted for Signet’s profits and a wider than normal range of profit before tax estimates would be appropriate.