Group profits before tax for the 13 weeks to October 30, 2004 were up 9 per cent on the same period the year before to£8.4 million. Sales for the quarter were static at£292 million.
In the US, like-for-like sales increased by 3.5 per cent, impacted, said the retailer, by hurricane activity. Further development of its Leo Diamond assortment and the expansion of fashion gold jewellery helped the increase in sales, as did the addition of at least one qualified diamontologist in each of its Jared stores.
In the UK, like-for-like sales increased by 1.6 per cent. The retailer said 142 of its H Samuel stores will trade under a more open store format by Christmas. The format has been instrumental in greater interaction with the customer, resulting in a greater diamond participation in the sales mix in the UK.
Signet chief executive Tim Burman said: 'We are pleased with the Group's performance. Further progress has been made in the third quarter against the background of challenging trading conditions. While our businesses on both sides of the Atlantic face demanding comparatives they are well positioned to compete over the Christmas season.'
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