HAMILTON, Bermuda, Nov. 6 /PRNewswire-FirstCall/ -- Signet Jewelers Ltd
(NYSE and LSE: SIG), the world's largest specialty retail jeweler, today
announced its sales performance for the 13 and 39 weeks to November 1, 2008.
13 WEEKS TO NOVEMBER 1, 2008
Group same store sales declined by 6.6% in the 13 week period. Total
sales were down by 7.3% on a reported basis to $629.4 million (13 weeks to
November 3, 2007: $678.7 million) reflecting an underlying decrease of 4.3% at
constant exchange rates (see note 1). The breakdown of the sales performance
was as follows:
Sales Change on Previous Year
----- --------------------------------------
At Constant Same
$m % of Total Reported Exchange Rates Store Sales
US 467.2 74.2% (4.3)% (4.3)% (7.9)%
UK 162.2 25.8% (14.9)% (4.3)% (2.4)%(a)
GROUP 629.4 100.0% (7.3)% (4.3)% (6.6)%
(a) Same store sales: H.Samuel down by (1.6)% and Ernest Jones down by
(3.3)%.
39 WEEKS TO November 1, 2008
Group same store sales declined by 4.3% in the 39 week period. Total
sales were down by 2.6% on a reported basis to $2,220.6 million (39 weeks to
November 3, 2007: $2,280.5 million) reflecting an underlying decrease of 1.6%
at constant exchange rates (see note 1). The average US dollar exchange rate
for the period was pounds Sterling 1/$1.92 (39 weeks to November 3, 2007:
pounds Sterling 1/$2.00). The breakdown of the sales performance was as
follows:
Sales Change on Previous Year
----- --------------------------------------
At Constant Same
$m % of Total Reported Exchange Rates Store Sales
US 1,673.9 75.4% (1.8)% (1.8)% (6.0)%
UK 546.7 24.6% (5.0)% (1.0)% 0.8%(b)
GROUP 2,220.6 100.0% (2.6)% (1.6)% (4.3)%
(b) Same store sales: H.Samuel up by 1.1% and Ernest Jones up by 0.5%.
Terry Burman, Group Chief Executive, commented, 'In the US, same store
sales for the first six weeks of the quarter were consistent with the first
half. However the last seven weeks showed a marked deterioration reflecting
heightened consumer uncertainty, and same store sales were down by about 11%.
'The UK division continued to outperform the non-food retail sector on a
same store sales basis. Until mid-October, the performance was broadly
similar to that reported by the business for the second quarter but in the
last three weeks same store sales declined by some 8%.
'In a very difficult trading environment on both sides of the Atlantic, we
have a strong business which we continue to manage cautiously.
