H Samuel / Ernest & Jones Sales Slump!

Signet, the company that owns a huge number of high street jewellers in both the USA and the UK announced a sharp downturn in UK sales last year.

The groups 539 UK shops are branded as either, H Samuel, Ernest Jones or Leslie Davis. Between them theses stores have seen sales drop 8.2pc in the year to January just gone.

The groups Chief Executive, Terry Burman said successful Valentine's Day promotions had helped the groups sales in the last couple of months and that like for like trading was now on the increase.

He also added that the UK tastes were changing an we now had an appetite for diamonds that had greater "fire and sparkle". (welcome to the world of bling!. White metal jewellery was gaining in popularity.

What is interesting is that whilst sales have fallen the average customer now spent more money. Ernest Jones average customer now spends £148.

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