Signet Group Plc reported second-quarter sales at stores open at least a year increased 6%, when compared to the same period a year ago.
Total sales were reported at to $598.4 million, an 8.7% rise when compared to the same period a year ago at constant exchange rates, with the increase at actual exchange rates being 1.1%, reflecting the weakening of the U.S. dollar, the company said. The reporting period ended July 31. The U.S. accounts for nearly three quarters of total sales.
Same-store sales climbed 6.8% in the United States for the quarter. The company attributed this growth to “a changeable retail environment.” Signet operates 1,126 stores in the U.S., where the Group trades as “Kay Jewelers,” “Jared The Galleria Of Jewelry,” and under a number of regional names. The company gets almost three-quarters of its revenue from the U.S.
Same-store sales rose 4.4% in the United Kingdom for the quarter. The company operates 599 stores in the UK, where the Group trades as “H.Samuel,” “Ernest Jones,” and “Leslie Davis.”
Total Group same-store sales in half-year period to the end of July rose 7.4%. Total sales were $1.2 billion for the period, a 10.2% increase at constant exchange rates and a 0.8% increase at actual exchange rates.
The company is scheduled to announce its half-year earnings on Sept. 1.