0.10%QQQQ 44.63 
0.18%XLF 19.94 0.35%
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NEW YORK (AP) - Signet Group PLC, the world's largest owner of jewelry stores and the parent of Kay Jewelers, said Thursday same-store sales fell 2.5 percent in the first quarter, hurt by weak U.S. sales.
| SIG | 9.63 |  0.12 |
The London-based company said for the 13 weeks ended May 3, same-store sales fell 4.7 percent in the U.S. and rose 5.3 percent in the U.K.
Same-store sales, or sales at stores open at least a year, is a key indicator of retailer performance because it measures growth at existing stores rather than newly opened ones.
Total sales rose 1 percent to $822.3 million.
The company said the U.S. had a "difficult trading environment," partly mitigated by better weather around Valentine's Day. In the U.K., the company said its H. Samuel and Ernest Jones stores performed well.
Citigroup suggests that inflation and the fabrication outlook favor gold.
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