Bermuda-based Signet Jewelers Ltd., the world's largest specialty retail jeweller, saw a 7.3 percent fall in group total sales to $629.3 million for the 13 weeks to November 1, 2008.

Same store sales also dropped by 6.6 percent, while net operating loss was $14.2 million over the same period compared to net operating income of $10.1 million in the 13 weeks to November 3, 2007.

Loss before income tax stood at $23.6 million versus income before tax of $3.8 million over the respective periods, net loss was $15.1 million compared to net income of $2.5 million, and loss per share was 18 cents against three cents.

Terry Burman, group chief executive, said: "While our third quarter results are disappointing, they reflect the broader retail and consumer environment.

"We have a strong business which we continue to manage cautiously in the current very difficult trading conditions. As ever, the results for the year will depend on the very important holiday trading season, the vast majority of which is still ahead of us."