Connecting to LinkedIn...

Jewellery sales up 16% at Aurum


UK jewellers group Aurum Holdings has healthy year-end trading figures following a Christmas like-for-like (LFL) sales increase of 14.5 per cent year-on-year, according to results published today.

LFL sales in the 49 weeks to January 9th 2011 rose by 16 per cent compared to the previous year and Aurum now expects EBITDA to be substantially higher than market expectations for the year ending January 30th.

In the Christmas period, the five weeks to January 9th, Goldsmiths was the best performing brand with sales up 19 per cent, whilst Mappin & Webb trading grew 11 per cent and Watches of Switzerland sales climbed one per cent.

Justin Stead, CEO of Aurum Holdings, commented: “The results we have seen from our performance during the Christmas period reflects the sales trend for the year and the great results our teams have achieved throughout 2010.

“Our Christmas success, despite difficult trading conditions due to the snow, is proof that our successful strategy to improve both product availability and ranges across our watch and jewellery offers is working incredibly well to produce such pleasing results.”

Online trading saw a huge jump of 53 per cent during Christmas, helped by the launch of the new transactional websites for both Mappin & Webb and Goldsmiths.

Watches once again proved the key product category for the group with sales up 17 per cent during the busy festive period and growing 22 per cent for the year-to-date.

Aurum’s performance is in stark contrast to rival jewellery firm Signet, which experienced a 4.2 per cent fall in UK sales during the last nine weeks of 2010 blamed on December’s heavy snow.

Don McCarthy, Aurum Holdings Chairman, added: “Our fantastic Christmas trading performance is the perfect end to an outstanding 2010 for the company.

“Looking ahead, there is no doubt 2011 is going to be difficult, however I am confident the business is in a strong position for the future.”

Published on Monday 17 January by Editorial Assistant

Articles similar to Aurum Holdings

Articles similar to Financial results

comments powered by Disqus
Top Feature