Signet UK sales fail to shine

Signet Jewelers reported a higher-than-expected quarterly profit but said its British stores were struggling. Signet reported net income of $105.4m (£66m) for the fourth-quarter, down from $115.5m a year earlier. Sales at US stores open at least a year were up 11.4 per cent so far in the first-half of the current quarter. But Signet, which operates British chains H Samuel and Ernest Jones said its UK like-for-like sales fell 2.9 per cent in the fourth-quarter and are continuing to tumble.