Jeweller pleased with steady sales
The owner of luxury jewellers Goldsmiths, Mappin & Webb and Watches of Switzerland said it had increased market share following a steady sales performance in the first quarter of its financial year.
Aurum Holdings highlighted a 6% increase in like-for-like sales at Watches of Switzerland and Mappin & Webb and said goldsmiths.co.uk lifted sales by 84%.
Chairman Don McCarthy said he was pleased with the overall result showing flat like-for-like sales.
He added: "Based on these results we have increased our market share in the jewellery and watch sector."
The improvement in the three months to April came despite challenging trading conditions and uncertainty caused by the collapse of Iceland-based retail investment firm Baugur, which held a 37.5% stake in Aurum.
The shares were transferred to PricewaterhouseCoopers after Icelandic bank Landsbanki called in the retail investor's £1 billion debts in February.
Chief executive Justin Stead said he remained cautious about trading conditions throughout the rest of the year.
He added: "We have a clearly defined strategy which we continue to execute aggressively."
The company has about 200 stores in the UK and recently added new shops at Liverpool, Leicester, Belfast, Bristol and Westfield in London.
- Post:
- del.icio.us
- Digg
- Netscape
- Newsvine
- Now Public
- Q&A
{ JOIN the CONVERSATION }
WRITE A COMMENT
Guidelines At A Glance
Below are some quick guidelines to note when posting comments on AOL.