For the 13 weeks ending April 30, 2016, the company reported diluted earnings per share grew 26.4%. Same-store sales for the retail conglomerate were up 2.4% with total sales up 3.2% to $1.6bn (£1.1bn).
The trading update reported same-store sales in the company’s UK division were up 3.4% to $144m (£98.2m), which the company said was driven by strong sales of diamond jewellery and prestige watches.
Despite this, the average transaction value in its UK division decreased 4.3% and the number of transaction fell 1%, with Signet citing a fall in sales of beads and fashion watches.
Mark Light, CEO, said: ““Signet delivered another period of solid performance resulting in record first quarter EPS and strong operating margin expansion. We gained profitable market share despite a challenging retail environment through strong sales of Ever Us and other fashion jewelry collections as well as select branded bridal.”