04-05-2006, 09:16 PM
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Senior Member
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Join Date: Apr 2006
Posts: 105
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I didn't really know where this goes, perhaps we need a news sub forum?
Quote:
Specialist jeweller Signet has announced an 8.5 per cent increase in its total group sales for 2005, to £1.752 billion ($3.066 billion).
The results mean that Signet is now the US's largest speciality jeweller. In the US, the company now has an 8.2 per cent market share, meaning its results will be significant industry-wide.
It also revealed a huge US store investment programme that will see it pump $1 billion into new outlets over the next five years.
Terry Burman, group chief executive, said: "The US business again significantly outperformed its main competition and gained further market share. The business has now become the largest US speciality jewellery retailer by sales."
He also outlined the plans to dramatically increase the amount of jewellery outlets.
"Over the next five years it is planned to invest some $1 billion in new US store space. In the longer term there is the potential to double the number of stores," he said.
Despite what he described as "tough operating conditions", Mr Burman said its UK businesses, which offer a range of platinum lines, had still achieved a healthy 10.5 per cent operating margin.
He said that higher commodity costs were one of the factors that contributed to a decline in its gross margin in the US.
Signet's jewellery store brands include Kay Jewelers and Jared The Galleria Of Jewelry in the US. It also trades as H.Samuel, Ernest Jones and Leslie Davis in the UK.
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See the whole thing at http://www.platinum.matthey.com/medi...144249210.html
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