CORRECTION: Christmas trading update from H.Samuel and Ernest Jones

WatchPro’s reporting of the holiday season trading for H.Samuel and Ernest Jones incorrectly stated the impact of currency fluctuations.

A story on January 10 incorrectly said that same store sales at constant currency were down by almost 4% for H.Samuel and Ernest Jones for the nine weeks ending December 30, 2017.

Same store sales at constant currency were, in fact, down by 10.2% for H.Samuel and 10.5% for Ernest Jones.

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The downturn was less severe (-3.9%) after converting the UK group’s results into US dollars because the value of sterling has risen by around 6% since the holiday trading period in 2016.

Both chains had the same number of stores this year compared to Christmas 2016.

Sales at H.Samuel were $95.3 million. Ernest Jones turnover was $81.8 million.

UK sales declined due principally to bridal and diamond fashion jewellery, partially offset by higher sales in select prestige watch brands and strength in e-commerce, Signet said in its trading statement.

WatchPro would like to apologise for the misreporting.

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