Profits blow to jewellers H Samuel and Ernest Jones

H Samuel and Ernest Jones jeweller Signet added to the gloom over the high street today after warning full-year profits would fall short of hopes.

The firm’s shares dived more than 13% lower as the firm said sales in the UK and US had weakened during November.

Signet’s downbeat update confounded analysts looking for profits of between $390m (€262m) and 400m (€269m).

But chief executive Terry Burman said: “Given the backdrop of trading in November, and increased economic uncertainty on both sides of the Atlantic, we believe current analysts’ expectations are unlikely to be met.”