H Samuel and Ernest Jones parent Signet said it had narrowed its third quarter losses to US10.5m (€7m) from $23.6m (€15.7m) a year earlier.

H Samuel and Ernest Jones parent Signet said today that sales dived in recent weeks as consumer confidence tumbled on both sides of the Atlantic.

Jewellery retailer Signet – owner of H Samuel and Ernest Jones – confirmed today it is in merger talks with US rival Zale Corporation.

Signet is set to unveil record sales next week, despite the US economic slowdown.