I considered including British jewelry company Signet Group
That said, the company behind mall and strip-mall concepts like Kay Jewelers and Jared seems to be running smoothly. Sales were up nearly 14% as reported, and nearly 3% on a same-store basis. Margins compressed a bit, but operating income still rose more than 9%, and pre-tax profits climbed 10% as reported.
Results, though, continue to be quite different between the U.S. and U.K. operations. In the U.K., comps were down a bit (0.7%), and the company continued to post operating losses. In the U.S., though, revenue grew more than 18% (more than 9% on a constant currency basis) and same-store sales were up nearly 4%. Adjusted for the timing of Mother's Day, same-store sales growth would have been closer to 7%.
Of course, the jewelry retailing space is crowded. Blue Nile
Signet's stock has actually held up better over the last six months than any other jeweler, including high-end retailer Tiffany
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Fool contributor Stephen Simpson but has no financial interest in any stocks mentioned (that means he's neither long nor short the shares).