Signet 2Q Total Sales Down 7.5 percent

Signet Jewelers LTD, the world’s largest specialty retail jeweler, today announced that total sales fell by 7.5 percent with US same store sales down 5.5 percent for the UK-based company’s 13 week period ending on August 1.

Figures were also released for the company’s 26 week period, which indicated same store sales were down by 4.0 percent with total sales down 7.4 percent. 

Terry Burman, Chief Executive, says: "US same store sales were down 5.5 percent in the second quarter, slowing a little from that of the first quarter after the Valentine’s Day period.  In the UK same store sales were down 4.3 percent, in line with the first quarter.  While the outlook on both sides of the Atlantic remains uncertain, the Group will continue to seek to capitalize on market share opportunities with a strong focus on customer service and merchandise initiatives."