Aug 29 Signet Jewelers Ltd reported
higher second-quarter sales on Thursday as shoppers spent more
per visit at its Kay Jewelers and Jared stores in the United
States, but business at its British stores slipped.
Total sales rose 3.1 percent to $880.2 million, and
same-store sales, or sales at stores open at least a year,
increased 3.6 percent. At Kay, a moderately priced chain that
accounts for about one-half of sales, same-store sales were up
Signet's British chains such as H. Samuel that generate
almost one-fifth of sales continued to struggle, with same-store
sales down 2.4 percent.
Net income fell to $67.4 million, or 84 cents per share, for
the quarter ended Aug. 3, from $70.7 million, or 85 cents per
share, a year earlier as Signet integrated the Ultra Stores
chain it bought last year to enter the bargain outlets business.