Diamond boost for Ernest Jones

Sales of diamonds polished Christmas performance at jewellery retailer Ernest Jones, parent Signet reported.

Ernest Jones increased like-for-like sales by 7.3 per cent for the eight weeks to December 24.

Overall UK like-for-like sales growth of 3 per cent was held back by flat performance at H Samuel of 0.4 per cent. Rival jeweller Goldsmiths has reported flat sales in the four weeks to Christmas Eve.

Signet said that full-year profits will exceed expectations following a like-for-like sales increase in the US of 4.7 per cent in the eight-week period.