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Reuters
Published
Nov 5, 2009
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Signet third quarter sales down, says trend improving

By
Reuters
Published
Nov 5, 2009


www.SignetJewelers.com

LONDON, Nov 5 (Reuters) - Retailer Signet Jewelers (SIG.N) (SIG.L) reported improving trends in the third quarter of its financial year, but underlying sales were still down, and it warned the trading outlook remained uncertain.

Signet said on Thursday 5 November sales at stores open at least a year fell 2.4 percent in its main U.S. market, where it trades as Key Jewelers and Jared The Galleria of Jewelery, following a 5.5 percent fall in the second quarter.

Sales in Britain on the same basis, where it trades as H Samuel and Ernest Jones, were down 0.2 percent following a second-quarter decline of 4.3 percent.

Total group sales were down 2.5 percent at $613.6 million.

"Signet is well prepared for the very important Holiday Season; however, the outlook on both sides of the Atlantic remains very uncertain," Chief Executive Terry Burman said in a statement. (Reporting by Mark Potter, editing by Will Waterman)

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