At the end of the second fiscal quarter, group revenues for Signet increased 10.8 percent y-o-y to $797.6 million. The retailer’s net income rose 71.3 percent to $66.3 million. Same-store sales saw a 9.9 percent jump, while cost of sales saw a marginal 4.2 percent rise to $502.8 million.
Region wise, sales in the U.S. rose 11.3 percent to $643 million and same-store sales in this area increased 12.2 percent. The average unit selling price in the U.S. was up 13.5 percent to $462, except for the charm bracelet category.
In U.K. sales were 8.8 percent up standing at $154.6 million while the region’s same-store sale rose 1.4 percent.
The average unit selling price in U.K. increased 5.3 percent to $161.
The company believes its sales in the U.S. and U.K. region were driven by its ‘branded jewelry initiatives’ to deliver well inspite of the challenging retail marketplace.