Signet’s Sales Rise 1.2%



Signet Jewelers’ same-store sales for the first quarter of 2013 rose a lower-than-usual 1.2 percent, even as overall profits rose 9.4 percent.

However, CEO Michael Barnes noted that the sales were impacted by the Mother’s Day calendar shift to the second quarter. He added that Mother’s Day comps were up double digits.

“We delivered strong financial results in the first quarter and increased our earnings per share by 10.3 percent to $0.96 as we anticipated the impact of the Mother’s Day promotional calendar shift and managed our business accordingly,” Barnes said in a statement.

Overall sales were up 1.4 percent, to $900 million, from $887.3 million the prior year.

Highlights of Signet’s financial statement (first quarter ended April 28):

  • Diluted earnings per share: up 10.3 percent
  • U.S. division sales: $751.5 million, up 1.8 percent
  • U.S. same-store sales: Up 1.2 percent
  • Kay same-store sales: Up 2.9 percent
  • Jared same-store sales: Up 0.2 percent
  • U.K. division sales: $148.5 million, down 0.5 percent
  • U.K. same-store sales: Up 1.2 percent