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Signet Group sees rise in holiday sales

Signet Group reports November-December sales at 1.1%

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The U.K.-based Signet group plc, which includes the U.S. jewelry chains Kay Jewelers and Jared the Galleria of Jewelry, reported that November-December sales rose 1.1% in 2005. U.S. sales, which are responsible for 73% of group sales, were up 5.5 % while U.K. sales were down 9.3 %. Diamond fashion jewelry, the bridal and engagement categories, and watches all performed particularly well.

�Profit before tax for 2005-06 is currently expected to be within the range of market estimates and to fall between �193 million and �199 million

  • $347 million to $358 million
  • ,� said Terry Burman, Group Chief Executive. In the United States, the company said, �The business again significantly outperformed its main competition and gained market share.�

    Total dollar sales increased by 10.5%. The divisional operating profit is anticipated to be comfortably ahead for the year as a whole. Signet operated 1,820 specialty retail jewelry stores as of December 31, 2005, including 1,219 stores in the United States. Signet also operates 601 stores in the United Kingdom, where the Group does business as H. Samuel, Ernest Jones, and Leslie Davis.


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