A new addition to the “Heirloom” collection, this one-of-a-kind piece features 32 custom-cut gemstones.
NRF: Holiday Retail Sales Rose More Than 5%
The National Retail Federation’s final figures for the 2017 holiday season are in, and they’re even better than expected.
Washington--The National Retail Federation’s final figures for the 2017 holiday season are in, and they’re even better than expected.
The retail trade association said November-December sales were up 5.5 percent unadjusted over the same two-month period in 2016 to $691.9 billion, as growing wages, stronger employment and higher confidence led consumers to spend more.
The results beat the NRF’s forecast of a 3.6 to 4 percent increase in sales.
It also marked the largest increase since the 5.2 percent year-over-year gain seen in 2010 after the recession, mirroring the findings of the MasterCard SpendingPulse report released at the end of December.
Of the $600 billion-plus in total sales, $138.4 billion came in the form of online and other non-store sales, an 11.5 percent increase over last year. That was within the NRF’s forecasted range of 11 to 15 percent, albeit at the low end.
The month of December was up 0.4 percent seasonally adjusted from November and up 4.6 percent unadjusted year-over-year. Retail sales in November, as the NRF reported earlier, were up less than 1 percent on a seasonally adjusted basis when compared with October, but were up 6 percent year-over-year unadjusted.
According to the NRF, there were increases in every retail category except sporting goods.
Clothing and accessories sales were up 2.7 percent unadjusted year-over year, while electronics and appliance sales increased 6.7 percent unadjusted year-over-year, and sales of furniture and home furnishings rose 7.5 percent unadjusted year-over-year.
There were a number of factors contributing to the strong season, the NRF said, including unemployment’s 17-year low, an increase in income, strong consumer confidence and a rising stock market.
Chief Economist Jack Kleinhenz noted the following: the season came after three of the strongest monthly year-over-year gains for retail sales since the fourth quarter of 2014; nominal disposable personal income was up a combined 3.5 percent year-over-year in October and November; and consumers were feeling better about using their credit cards, with outstanding balances up 6 percent year-over-year.
“The economy was in great shape going into the holiday season, and retailers had the right mix of inventory, pricing and staffing to help them connect with shoppers very efficiently,” he said.
“Strong employment and more money in consumers’ pockets, along with the news of tax cuts, clearly helped with the pace of shopping. The market conditions were right, retailers were doing what they know how to do, and it all worked.
The Latest
Last month in Dallas, David Walton pushed another jeweler, David Ettinger, who later died.
The move will allow the manufacturing company to offer a more “diverse and comprehensive” range of products.
With Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
From now through mid-May, GIA will be offering the reports at a 50 percent discount.
De Beers’ rough diamond sales were down 18 percent year-over-year in its latest round of sales.
Sponsored by the Las Vegas Antique Jewelry & Watch Show
For over 30 years, JA has advocated for the industry, fought against harmful legislation and backed measures that help jewelry businesses.
The Patek Philippe expert will serve as personal curator for the brand-focused company.
The 553-square-foot shop is aboard the Carnival Jubilee cruise ship.
NDC filed a complaint against Skydiamond for use of phrases like “diamonds made entirely from the sky.”
John Carter received the AGS’s highest honor Tuesday afternoon at Conclave in Austin, Texas.
LVMH said the company performed well despite an uncertain geopolitical and economic environment.
B&D Sales and Service held a ribbon-cutting event for its new location in Cranston, Rhode Island.
It’s ultra-feminine and filled with gold, pearls, and soft pastels.
Emily Highet Morgan and Emily Bennett have joined the agency’s team.
Its updated book for mountings is also now available.
She has been with the organization since 2010, most recently serving as its chief officer of PR and industry relations.
Joyce’s Jewelry sued the bank after cybercriminals drained its accounts of nearly $1.6 million through a series of wire transfers.
He is remembered by loved ones for his loyalty, integrity, and kindness.
Hosted by Freeman’s | Hindman, the sale will take place May 7-8.
The auction house said all 24 timepieces offered in its underground sale of rare and avant-garde watches quickly found buyers.
From lab-grown diamonds and AI to the inevitable Taylor Swift mention, here are some of Conclave’s most intriguing educational offerings.
From cybersecurity liability to trade show coverage, insurance experts share tips on how to build the right policy.
The charm is a modern rendition of the evil eye amulet that has been worn for thousands of years.
Ahead of its trade show next month, TJS awarded free registration and accommodations to one jewelry professional and three students.
By the end of this year, SRK’s diamond manufacturing complexes will achieve net zero emissions, one of an impressive array of achievements.