Unlike what it sells in-store, the shares of jewellery Goliath Signet haven’t been sparklers lately – there’s a been a distinct lack of bling.

Unlike what it sells in-store, the shares of jewellery Goliath Signet haven’t been sparklers lately – there’s a been a distinct lack of bling.

Contradictory stories about the tight-lipped retailer – which was reported in the space of a few weeks to be considering both the sale of its British business and the acquisition of competitor Aurum – haven’t helped.

Unusual characteristics, such as being incorporated in Hamilton, Bermuda, further emphasise Signet’s difference from UK peers. But perhaps the retailer, which updates next week, deserves a second look from investors. Last time it updated back in May, Signet had held up well, despite flat like-for-likes and a depressed margin in the UK.

Signet, however, does most of its business in the US, where its category-killing stores such as Jared and Kay posted a like-for-like sales advance of 12.5% and margin up.

In May, Signet chief executive Mike Barnes said that “strong sales momentum” had continued into the second quarter and was confident that the full-year’s targets would be met. The retailer had also struck a revolving credit agreement on better terms. More good news next week could mean a bit more lustre in Signet’s shares.

Best Buy and the riots

While Signet went from the UK to the US and is doing well, spare a thought for Best Buy, which made the journey the other way.

The retailer’s fledgling big-box business, in partnership with Carphone Warehouse, was finding the going tough anyway. But the retailer was delivered another blow by last week’s riots, which hit its Croydon shop – the store was still shut at the time of writing.

Best Buy was already considering the future of the big boxes, and one wonders what effect last week’s mayhem may have on the decision-making.