RETAIL

Apr 10 2008 by Graeme King, The Journal

Shine’s off jewellery

H SAMUEL and Ernest Jones owner Signet said it faced very challenging times in its UK and US markets as it unveiled a 17% drop in annual profits.

The group reported pre-tax profits of £169.1m after tough UK trading conditions and “unprecedented” weakness in US Christmas sales.

Like-for-like sales dropped 0.7% in the year to February 2, with a marked decline in US trading overshadowing a 2% rise in UK comparative sales.

FOOD & DRINK

Drinkers hungry

PUBS and restaurants firm Mitchells & Butlers says buoyant food sales are helping it weather tougher trading conditions this year.

The Harvester and Toby Carvery owner, of Birmingham – which serves 110 million meals a year – saw a 4.8% increase in like-for-like food sales in the 27 weeks to April 5.