Jewellery group Aurum has announced that like-for-like sales were flat in its first quarter to April.
The jewellery group, which comprises Goldsmiths, Mappin & Webb and Watches of Switzerland, said that its e-commerce business “continues to trade exceptionally well”.
Goldsmiths.co.uk reported an 84 per cent like-for-like increase in sales. Watches of Switzerland and Mappin & Webb were 6 per cent ahead on a like-for-like basis.
Chairman Don McCarthy said that he was “very pleased with the strong first-quarter performance given the challenging trading period. Based on these results we have increased our market share in the jewellery and watch sector.”
Chief executive Justin Stead said: “We have a clearly defined strategy which we continue to execute aggressively – our focus remains centred on a full-priced strategy underpinned by a unique customer experience driven by an improving key item inventory focus. That said, we remain cautious about trading throughout the remainder of 2009.”
Aurum was backed by defunct retail investor Baugur until its collapse in to administration in February. Baugur’s 38 per cent stake is now held by nationalised Icelandic bank Landsbanki.