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Signet Profits Up, Delia’s Cuts Loss

Signet Jewelers Ltd. posted a 49.9 percent rise in first-quarter profits, while accessories retailer Delia’s Inc. narrowed its first-quarter loss.

Mid-tier jeweler Signet Jewelers Ltd. posted a 49.9 percent jump in profits in the first quarter, while teen accessories retailer Delia’s Inc. narrowed its first-quarter loss.

 

For the period ended April 30, Signet recorded net income of $75.4 million, or 87 cents a diluted share, compared with year-ago income of $50.3 million, or 58 cents a share.

 

Signet’s net sales rose 10.2 percent to $887.3 million, from $805.4 million, a year earlier.

 

Analysts expected EPS of 73 cents on sales of $858.3 million, according to Yahoo.

 

“Our performance was led by our US division, with the UK division continuing to operate well in a challenging economy,” said Signet chief executive officer Mike Barnes. “We believe we continued profitable market share gains due to favorable reception to our product offerings as a result of superior quality and craftsmanship, attentive customer service and memorable marketing campaigns.”

 

At Delia’s, which sells accessories, footwear and apparel through its Alloy chain and its namesake brand, registered a net loss of $4.5 million, or 14 cents a diluted share for the quarter ended April 30. This compared with a year-ago net loss of $5.8 million, or 19 cents a diluted share.

 

Revenue slid 1.6 percent to $49.1 million, from $50 million, a year earlier.

 

Analysts were looking for a net loss of 15 cents on sales of $50 million.