H.Samuel and Ernest Jones sales drop by almost 4% over crucial Christmas trading period

H.Samuel and Ernest Jones have suffered a slump in sales of almost 4% for the nine weeks ending December 30, 2017.

Signet Jewelers, the US-based parent group of the UK multiples, reported today that sales at H.Samuel dropped year-on-year by 3.9% to for the key holiday period. Ernest Jones turnover was down by the same 3.9%.

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

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After accounting for the strengthening of the dollar against sterling over the comparative period, sales at H.Samuel were down 10.2% to $95.3 million. Ernest Jones was also down by 10.2% to $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 a trading statement.

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