Wednesday, 9th June 2004 (4030 views)

Jewellery retail company Signet Group has revealed its first quarter sales results.

Figures showed a 19 per cent rise in profit and an increase of 11.6 per cent in total sales for the period.

It is thought the increase is due to particularly good trading during the Valentine's Day period, added products and increased advertising.

Chief Executive Officer Terry Burman told Bloomberg: "The quarter was marked by particularly strong trading during the Valentine's Day period. The U.S. business again outperformed its main competition.'

Operating profit in the US, which accounts for nearly 70 per cent of sales saw an increase of 9.5 per cent.

The company which sells gold jewellery at UK jewellers such as H Samuel and Ernest Jones has also increased spending on training and store upgrades.

 

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