Same-store sales at Signet group increased 2.8 percent for the first quarter, ended April 29, with U.S. sales helping to drive the growth.

The company's total sales grew 13.7 percent (7.2 percent at constant exchange rates) for the quarter, reaching approximately US$734 million, based on an average U.S. dollar rate of US$1.75 equaling one British pound over the financial quarter, according to Sterling.

Signet, the London-based parent company of Sterling Jewelers in the United States, said in a statement that the later timing of Mother's Day in the United States adversely affected sales for the quarter by more than US$2.6 million.

In the United States, which accounts for 73 percent of the group's overall sales, total sales increased 18.1 percent (9.4 percent at constant exchange rates) to US$574.5 million.

Same-store sales increased 3.9 percent for the quarter in the United States. Factoring in the Mother's Day shift, same-sales grew more than 7 percent, according to Signet.

In the United Kingdom, total sales for the quarter remained level at US$159.8 million.

Signet operates 1,246 stores in the United States under the names Kay Jewelers, Jared the Galleria of Jewelry and several regional names.

Source: www.nationaljeweler.com