Improving trend continues
Jewellery retailer Signet Group unveiled a strong sales performance in the third quarter. The group trades under the H. Samuel, Leslie Davis and Ernest Jones fascias in the UK.

Group like-for-like sales rose 5.4 per cent in the 13 weeks to October 28. Total group sales were up 9.5 per cent, at constant exchange rates, and 5.7 per cent on a reported basis to£328.3 million.

UK like-for-like sales rose 3 per cent, with H Samuel's like-for-like sales up 1.7 per cent and Ernest Jones climbing 4.4 per cent for the 13-week period.

Signet chief executive Terry Burman said: 'The group has had another good quarter. The UK division continued its improving trend with like-for-like sales growth of 3 per cent. Both Ernest Jones and H Samuel showed increases for the period.'

In the 39 weeks to October 28, UK like-for-like sales had risen by just 0.9 per cent. H Samuel's like-for-like sales were down 0.5 per cent and Ernest Jones were up 2.7 per cent.

Signet intends to report its financial statements in US dollars from the start of its next financial year on 4 February 2007, subject to necessary approvals.

As a consequence, the company anticipates that its functional currency will change to US dollars, but will continue to be registered and have its headquarters in England.

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