The largest specialized jewelry retailer in the US, UK and Canada Signet Jewelers announced financial results for the third quarter of fiscal year 2015, which ended on November 1, 2014.
Total sales in the company's stores grew by almost 53% to $ 1,177.9 million, while Internet sales increased by 96.5% to almost $ 45 million due to the merger of Zale, which was acquired by Signet in May.
"We achieved strong results in the third quarter, underlined by sales growth of 4.2% in comparable stores. We are confident that our units in the US and Canada are ready to show good results in the holiday season, "said Signet CEO Mark Light.
Light commented on the decrease in sales in stores Zale network by almost 1%, saying that in general, "happy with the integration process Zale." "Within a short period of Zale's tenure, we were able to implement some initiatives to promote Zale's business on holidays and are confident in our ability to achieve the goal of $ 150- $ 175 million in aggregate over the next 3 years," said the head of Signet.
Sales of both key Signet brands in North America, Kay and Jared, rose steadily in the third quarter by 7.5% and by 6.5% respectively. Trade in the company's stores in the UK for this period also increased by 3.7%, showing the highest growth rate in the last 7 years.