Anglo-American jewelry retailer Signet reported a rise in sales in the U. S market during the holiday season, projecting full-year results above what analysts expected.

Signet said same-store sales boosted 5.6% during the recent holiday season, which will assist in propelling the earnings for the year ending Jan. 30 to between $1.76 and $1.84 a share. Analysts polled by Thomson Reuters had most recently augured earnings of $1.64.

The company raised earnings expectations and cut its net debt forecast on Tuesday.

The group claimed that its same-store sales rose 5.6 percent in the nine weeks to Jan. 2, including a 7.6 percent increase in the United States. However, its same-store sales in Britain, where Signet trades as H Samuel and Ernest Jones, witnessed a 0.8% fall over the same period.

The recession has resulted in many mom-and-pop jewelry stores to give up their business in 2009, which directed business toward larger jewelry retailers, especially during the crucial holiday selling season.