Signet reports “excellent” full-year results

Jewellery giant Signet Jewelers has reported an “excellent” full year in its latest results for the 52 weeks ending 30 January, 2016.

Same-store sales across the year were up 4.1% with annual total sales of $6.55bn (£4.63bn) – an increase on the previous year of 14.2%.

The results were boosted by Signet’s UK division – including retails brands H Samuel and Ernest Jones – which reported same-store sales growth and total sales growth of 4.7% and 1.7%. Total sales for the division were $282.6m (£199.7m).

Average transaction value in the company’s UK division increased by 3.7%, while the number of transactions increased 1.1%. Signet said this was driven by principally by strong sales of diamond jewellery and prestige watches.

Mark Light, CEO, said: “Signet had an excellent finish to another strong year with annual sales of $6.55bn [£4.63bn] and comp sales growth of 4.1%.

“Once again, we delivered strong top and bottom line growth with results driven by product innovation; targeted marketing; and supported by delivering superior customer service by the best store teams in retail.

“These and many other competitive strengths such as a diversified real estate portfolio, customer finance programs, and custom jewelry and repair continue to position Signet long term as a profitable growth company in the specialty retail sector.

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