Signet ‘s UK division sees 9.7% Christmas growth

Signet’s UK division, which owns high street chains H Samuel and Ernest Jones, has seen a 9.7 increase in like-for-like sales for the eight weeks ending December 27 – the group’s best performance for 12 years. 

In a statement, the Signet said Ernest Jones was the strongest performer with an 11.9% increase on same-store sales in 2014, compared to the same period in 2013. H Samuel also performed well, reporting a slightly smaller 8.1% increase.

H Samuel recorded total sales of $121.7m (£80.8m) while Ernest Jones recorded sales of $93.4m (£61.7m), meaning Signet’s UK division recorded total sales of $215.1m (£142.9m).

Growth in Signet’s UK market is thought to be due to significant diamond sales, including branded bridal jewellery. Other factors such as sales of watches and beads, and promotions such as Black Friday, were believed to be significant.

Mark Light, chief executive officer, said: “Our company performed well during the holiday period delivering increased same store sales across all divisions driven by the continued successful execution of our product, marketing and omni-channel strategies. This is particularly pleasing given the amount of change we have dealt with during the course of the fiscal year.

“Our UK division led our performance with an outstanding 9.7% comp increase – its best in 12 years and on top of a very strong comp last year. These results were driven by fresh, trend-right merchandise offerings and strategic collaboration with the Sterling division.”