Signet Sees 3.6 Percent Comp Rise

Signet is becoming a juggernaut, producing yet another set of solid results for the first quarter of fiscal 2016 (ended May 2).
 
The company’s overall comps rose 3.6 percent, and each division saw increases:
 
– Its U.K. division, which until recently had been considered a laggard, saw same-store sales rise an impressive 6.2 percent.
 
– The recently acquired Zale division enjoyed an also-impressive 5.6 percent rise.
 
– And its Sterling division (Kay, Jared, and regional brands) saw a 2.3 percent comp increase, its 22nd consecutive quarterly comp increase.
 
The company also saw a 25.6 percent increase in earnings per share. It will also repurchase $21.9 million in stock.