Signet Group, the world’s second largest specialty retail jeweler and parent of Sterling Inc. in the United States, posted a 13.5% sales gain for the year ending Feb. 2. Sterling had a 15.1% increase.
London-based Signet operates 1,631 jewelry stores. They include 1,025 stores in the United States, under the names Kay Jewelers, Jared-The Galleria of Jewelry, and several regional names. In the United Kingdom, Signet operates 606 stores, under the names H, Samuel, Ernest Jones and Leslie Davis.
Total sales for the year for the Group for the 53-week period came to about $2,270,736,000, with a total comparable stores’ gain of 3.1%. For the UK group, sales tallied $649,440,000, a 10.2% gain. Comparable stores sales rose 9.4%.
For Akron, Ohio-headquartered Sterling, the second largest U.S retail jeweler, total sales came to 1,621,296,000 (71.4% of the Group total), with comparable store gains of 0.6%.
For the fourth quarter ending Feb. 2, Group sales were $976,896,000, a 13.4% gain. All comp stores sales rose 6.1%. The UK stores took in $284,544,000, a 13.3% increase. Comp stores were 9.7%.
In the United States, Sterling `s fourth quarter sales came to $692,352,000, a 13.5% increase (and 70.9% of the total). Comp stores sales increased 4.6%.
Terry Burman, Signet Group’s chief executive and chairman of Sterling, said he was “very pleased” with the results. “The U.S. business again outperformed its main competitors and achieved a further increase in market share,” he noted.