Specialty jewelry retailer Signet Group announced today a 16.8 percent decrease in annual profit for the year ended Feb. 2, and said its outlook remains very challenging. The group, which saw total sales decrease 6.1 percent for the fourth quarter ended Feb. 2, said annual pretax profit was $333.5 million. Group same-store sales decreased 0.7 percent for the year, while total sales increased 3 percent to $3,665.3 million.

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