Signet’s Q2 sales dip by 1.9 percent

The second quarter of 2008 ending August 2 for the Signet Group, has shown a decline in sales. The sales (at constant exchange rates) dipped by 1.9 percent, amounting to $768.6 million, while same-store sales fell 3 percent. So was the pattern noted in the first six months of 2008, as group sales slid by 0.5 percent to $1.591 billion.

The sales in US fell by 1.6 percent in the second quarter valuing at $575.4 million, and same-store sales showed a fall of 5.8 percent. The U.K. markets too saw a slip in sales by 3 percent to $193.2 million and same-store sales by 0.6 percent. For the first half of 2008, sales in US fell by 0.9 percent to $1.207 billion, but in the UK increased by 0.4 percent to $384.6 million. The underlying like for like sales in the US in Q2 was maintained at levels of the year beginning.