The UK’s biggest jewellery chain Signet has reported an improvement in sales in its third quarter.
Signet’s UK business, which includes H Samuel and Ernest Jones, showed a 0.2% fall in like for likes in the 13 weeks to October 31, a big improvement on the 4.3% fall over the in the second quarter. The improvement in the performance of Ernest Jones, which was down 0.3% like for like, was described as “noteworthy.”
At a group level, like for likes were down 1.9%, with the US business, which contributes three-quarters of the group’s sales, down 2.4%. Again this was a big improvement on the second quarter, with the Jared chain showing signs of a slowing in its sales decline.
Chief executive Terry Burman said Signet was well prepared for the Christmas period, but warned that “the outlook on both sides of the Atlantic remains very uncertain.