STATE OF THE NATION’S TOP 10 WATCH RETAILERS. No.2: UK Jewelry (Signet)

UK Jewelry is the name of Signet Jewelers’ British operations comprising Ernest Jones and H.Samuel.

US-based Signet Jewelers is a $6.4 billion publicly listed company with an annual report that runs to 199 pages and provides a great deal of detail about its UK business.

In its 2017 financial year, which ended January 28, 2017, H.Samuel had 304 stores and Ernest Jones had 204. Despite having one third fewer stores, the higher average transaction values at Ernest Jones helped it match its value-focused stablemate with sales of £245 million each contributing to a total for UK Jewelry of £490 million.

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Operating profit from UK Jewelry in FY17 was $45.6 (c.£35m), a fall of 11.1% at constant exchange rates over the prior year.

While we have made a conversion from dollars into pounds for the latest financial year in order to place the company in our Top 10, please note that the graphs we show here are in dollars and cover a period when the exchange rate has fluctuated from almost $2 to the pound to $1.2 to the pound in the aftermath of Brexit.

VITAL STATISTICS

Turnover: £490.25 million (+3.6%), Operating Profit: £34.5 million (-26%)
H.Samuel: 304 stores with sales of £245m,
Ernest Jones: 2014 stores with sales of £245m

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