RNS Number:8285K
Signet Group PLC
08 May 2003

Embargoed until 12.00 Noon. (BST)
Signet Group plc (LSE: SIG, Nasdaq NMS: SIGY)

                                                                      8 May 2003


               Signet Like For Like Sales up 2.2% in First Quarter

Signet Group plc (LSE: SIG and Nasdaq NMS: SIGY), the world's largest speciality
retail jeweller, today announced its first quarter 2003/04 sales performance for
the 13 week period from 2 February to 3 May 2003.

Group sales in the quarter were #342.9 million (13 weeks to 2 May 2002: #354.8
million), an increase of 4.6% at constant exchange rates.  At actual exchange
rates Group sales were down by 3.4% reflecting the weakening of the US dollar
from #1 / $1.43 to #1 / $1.59.  The like for like sales increase was 2.2%.  The
breakdown of the sales performance was as follows:

                                    Sales                                        Change on Previous Year

                         # million        % of Total                             Total         Like for Like

US                           250.2              73.0                             -6.4%(a)               1.1%
UK                            92.7              27.0                              5.9%                  5.4%(b)
GROUP                        342.9             100.0                             -3.4%(c)               2.2%


(a)     At constant exchange rates US total sales increased by 4.1%.
(b)     H.Samuel like for like sales were up by 4.5% and Ernest Jones by 6.6%.
(c)     At constant exchange rates Group total sales increased by 4.6%.

Terry Burman, Group Chief Executive, commented, "Against the background of
demanding comparatives the US division increased like for like sales by 1.1%.
The business performed strongly during the Valentine's Day period; subsequent
trading was affected by inclement weather in late February and early March.
Although the later timing of Easter and the war in Iraq have made the subsequent
pattern of trading difficult to interpret, there has been some evidence of
weaker consumer demand.  Strict control was exercised over costs and gross
margin throughout the period.

The UK division again outperformed the general retail market with like for like
sales up by 5.4%, on what was a strong period last year.  Further excellent
progress was made in the drive to increase diamond sales in both H.Samuel and
Ernest Jones."

Enquiries:       Walker Boyd, Group Finance Director        +44 (0) 20 7399 9520
                 Mike Smith, Brunswick                      +44 (0) 20 7404 5959
                 Tim Grey, Brunswick                        +44 (0) 20 7404 5959

Signet operated 1,671 speciality retail jewellery stores at 3 May 2003; these
included 1,065 stores in the US, where the Group trades as "Kay Jewelers", "
Jared The Galleria Of Jewelry" and under a number of regional names.  At that
date Signet operated 606 stores in the UK, where the Group trades as "H.Samuel",
"Ernest Jones" and "Leslie Davis".  Further information on Signet is
available at www.signetgroupplc.com.

The first quarter earnings results for the 13 weeks ended 3 May 2003 are
expected to be announced on Thursday 5 June 2003 and a conference call on that
day for all interested parties is expected to take place at 2.30 p.m.(BST).


European dial-in:              +44 (0) 20 7984 7582          Password: "Signet"
European 48 hr. replay:        +44 (0) 20 7784 1024          Access code: 501545

US dial-in:                    +1 719 457 2679               Password: "Signet"
US 48 hr. replay:              +1 719 457 0820               Access code: 501545

This release includes certain forward-looking information that is based upon
management's beliefs as well as on assumptions made by, and data currently
available to, management.  This information, which has been, or in the future
may be, included in reliance on the "safe harbor" provisions of the US Private
Securities Litigation Reform Act of 1995, is subject to a number of risks and
uncertainties, including but not limited to the factors identified in the
Company's filings with the US Securities and Exchange Commission, including its
2002/03 Annual Report on Form 20-F filed with the Commission on April 24, 2003.
Actual results may differ materially from those anticipated in such
forward-looking statements even if experience or future changes make it clear
that any projected results expressed or implied therein may not be realised.
The Company undertakes no obligation to update or revise any forward-looking
statements to reflect subsequent events or circumstances.




                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

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