Sterling's Second Quarter Rises 6.8%

August 9, 2002

Sterling's Second Quarter Rises 6.8%

Sterling, the U.S. division of London jewelry chain Signet Group, reported its same-store sales were up 6.8% in the second quarter when compared with the same period last year. Sterling's second quarter includes May, June and July. These results were consistent with first quarter sales increases.

"In the U.S., [Sterling] benefited from a positive response to marketing activity in the early part of the quarter," says Terry Burman, group chief executive of the Signet Group. "While marketing activity in the latter part of the quarter was at a lower level, sales remained encouraging and the business continued to outperform its main competition and gain market share."

Sterling operates 1,037 stores in the U.S., trading under such names as Kay Jewelers, Jared The Galleria of Jewelry, and a number of regional brands.

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