Signet UK reports flat third quarter like-for-likes

The owner of H Samuel and Ernest Jones said UK like-for-like sales slipped 0.5% in the 13 weeks ending October 29. Overall UK sales rose 1.9% to $147.5m (£92.4m).

In the 39 weeks to October 29, UK sales were down 0.8% at constant exchange rates while same stores sales increased by 0.4% compared with a decline of 0.5% last year and Signet said it is “pleased” with performance in the fourth quarter so far.

H.Samuel reported sales up by 6.9% to $239.2m (£152.9m) for the 39-week period and Ernest Jones’ sales rose 3.2% to $212.2m (£135.6m).

Internationally Signet, which does most of its business in the US, reported total sales of $710.5m (£454.1m) in the third quarter, up 10.7% with same store sales up 10.6%.

Signet chief executive Mike Barnes said: “We are pleased with the start of the fourth quarter, and with the majority of our sales ahead of us, believe the superior quality of our in-store experience, our well-tested merchandising programs, and the exciting new advertising support, have us well positioned for the remainder of the holiday season.”

H Samuel and Ernest Jones launched new iPhone apps this week.