Signet posts 7% sales gain

The Signet Group, the world’s largest specialty retailer of jewelry, posted a 7% gain in sales to $1.4 billion for the nine months ending Nov. 2, the London-based company announced. Same store sales were up 4.8%. Third quarter sales alone rose 3.7%, to almost $432.3 million, with same store sales up 6.3%.

Nine-month sales of Sterling Inc., the group’s Akron, Ohio-based U.S. division, which provides two thirds of its revenues, rose 5.4%, to almost $1.1 billion. Same store sales were up 6.3%. Its third quarter revenues rose 3%, to almost $291 million, with same store sales up 4.8%.

In the United Kingdom division, nine-month sales rose 8.5% to $426 million, and a 6.7% gain in same store sales. For just the third quarter, the U.K. division rang up almost $141.4 million in sales, a 5.4% gain, and boosted same store business 4.8%.

As of Nov. 2, Signet operated 1,660 jewelry stores, including 1,049 in the United States (where it trades under the name Kay Jewelers, Jared The Galleria of Jewelry and several regional names) and 611 in the Great Britain (trading under the names H. Samuel Ernest Jones and Leslie Davis).

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