Signet delivers highest Q4 sales growth in 13 years

Signet’s UK division, which owns H Samuel and Ernest Jones, has experienced its highest Q4 sales increase in 13 years and its best operating profit in three years. 

In the 13 weeks to January 31, the company reported a same-store sales increase of 7.5%, with total sales reaching $278m (£186.6m).

The group said that the jewellery sale increases in the UK was driven by strategic initiatives to grow diamond sales as well as strong sales of fashion watches.

The number of transactions and average transaction price for the division increased by 1.6% and 7%, respectively, due to a strong performance across its merchandise portfolio, including watches, branded fashion and branded bridal jewellery.

Mark Light , CEO of Signet, said, “We had an outstanding finish to another strong year of growth for Signet. The disciplined execution of our focused strategies drove broad-based success across all of our divisions and store brands.”