Signet’s Holiday Sales Rise 7.5%

Same store sales were especially strong in the U.S., which accounts for about 81 percent of the group’s annual sales. During the nine-week period, they rose 9.2 percent with total sales up by the same amount. In the 48-week period, same store sales increased by 11.6 percent with total sales increasing by 11 percent.

Total sales at Kay were up 10.6 percent for the holiday period compared to 2010. Jared’s total sales rose 11.3 percent over 2010 while total sales for Signet’s regional brands were down 4.5 percent.

The group’s performance in the UK continued to be weaker than in the U.S. For the nine-week period, same store sales increased by 1.8 percent and total sales were up just 0.9 percent. In the 48-week period, same store sales increased by 0.8 percent. Total sales increased by 3.7 percent on a reported basis but decreased by 0.2 percent at constant exchange rates.

Total sales at H.Samuel increased 1.2 percent for the holiday season compared to 2010. Sales at Ernest Jones rose just 0.3 percent over 2010.

Group income before income taxes is anticipated to be between $494 million and $501 million. The group is expected to generate a free cash flow of between $230 million and $240 million.

 “We are pleased with our holiday season performance, with same store sales up 7.8 percent,” said CEO Mike Barnes. “We believe that Signet is well positioned for fiscal 2013 and we will remain focused on providing our customers with an outstanding experience and investing in the business to further our competitive strengths, in order to continue to create shareholder value.”

Signet is the largest specialty jewelry retailer in the U.S. and the UK and operated 1,864 specialty retail jewelry stores at the end of 2011.