Signet Jewelers sales go up 2 percent in Q1, sees turnaround in Q1

_{Signet Jewelers Ltd. saw sales grow in its first quarter as the company proceeds with its turnaround plan. For the quarter ended May 3, Signet’s sales totaled $1.54 billion, up 2 percent year-over-year. Same-store sales climbed 3 percent. The results exceeded the company’s expectations of sales between $1.5 billion to $1.53 billion and same-store sales flat to up 2 percent.}

 _{The company’s three largest brands—Kay, Zales, and Jared saw sales improvement from the fourth quarter on higher margins. Kay, Zales, and Jared all reported double-digit e-commerce sales growth in Q1, and increased their sales per square foot by nearly 5 percent year-over-year.}

_{In the first quarter, Signet closed 14 stores and plans to close just under 100 this fiscal year, focusing on underperforming mall locations. It renovated 40 stores in Q1, with plans to revamp an additional 160 stores this fiscal year.}