Birks records $5M loss, announces cost-cutting plan
Birks Group Inc., the retailer formerly known as Birks & Mayors, announced this week that it is restructuring to save money, cutting administrative staff at its regional office in Florida and relocating that office’s functions to its headquarters in Canada.
Jewelry auction website Bidz to liquidate
The final gavel seemingly has dropped for Bidz.com Inc., which once sold millions of dollars in fine jewelry a year via its live online auction format but has struggled financially the last several years.
J.C. Penney closes on $2B in new financing
J.C. Penney Co. Inc. announced Monday that it has closed on a new $2.35 billion credit facility, a deal that hints at some confidence from the banks in a performance turnaround for the retailer.
Sales up 12 percent at Gitanjali’s US stores
Mumbai-based manufacturer and retailer the Gitanjali Group reported that the stores it operates in the United States under the Samuels Jewelers Inc. umbrella experienced 12 percent year-over-year sales growth in fiscal year 2014.
Earnings roundup: Kohl’s, JC Penney, Walmart
Despite a dismal winter that hampered many retailers’ sales, J.C. Penney posted relatively strong first quarter same-store sales, with fine jewelry listed as one of its best-selling categories.
Earnings roundup: Macy’s, Nordstrom
Macy’s Inc. and Nordstrom Inc. reported mixed results for the first quarter ended May 3, with weather taking a toll on sales and off-price outlets continuing to outshine regular stores.
Jewelry sales slow for HSN as Q1 sales decline
HSN Inc., the parent company of on-air and online retailer HSN, reported Thursday that the retailer’s sales were down 1 percent in the first quarter, with jewelry reported as one of its weak sellers.
Sales up, but Amazon losing ground in some states
Quarterly sales continue to climb for Amazon.com Inc. though a new study shows the online retailer is losing sales--particularly of larger-ticket items--in states where it collects sales tax.
First quarter sales climb for LVMH
Sales in the United States were strong in the first quarter for LVMH, with the luxury goods conglomerate’s company-owned watch and jewelry boutiques performing particularly well.
Signet U.S. comps up 4 percent in Q4
Same-store sales in the U.S. were up 4 percent for Signet Jewelers Ltd. in the fourth quarter, while e-commerce sales climbed 21 percent to $61.9 million.
Q4 sales climb for ShopHQ on lower prices
Fourth quarter sales were up 17 percent for ShopHQ as the multimedia retailer enticed customers to buy by offering more merchandise at lower price points.
Earnings roundup: Kohl’s, Sears
Kohl’s and Sears reported declines in same-store sales in the fourth quarter, despite it being the period that includes the all-important holiday season.
Earnings roundup: JC Penney, Target, more
Both J.C. Penney and T.J. Maxx/Marshalls recorded same-store sales increases in the fourth quarter while Target’s quarterly comps fell in the wake of the massive data breach that impacted millions of customers.
Q2 comps up 2 percent, profits rise for Zale
Zale Corp. recorded a 2 percent increase in the same-store sales in the second quarter ended Jan. 31, with its Zales and Zales Outlet stores turning in the strongest performance.
Earnings roundup: HSN, Walmart, Nordstrom
Three jewelry-selling retailers that reported their financials Thursday did not record strong increases in sales in the fourth quarter, despite the fact that it is generally the most wonderful time of the year for retailers.
Pandora reports double-digit rise in US revenue
Bead brand Pandora reported Tuesday that its U.S. sales rose 24 percent in 2013 (28 percent in local currency) to $589.7 million, driven by an increasing demand for newer products and an improved store network.
Gitanjali’s US stores post 12 percent growth
Indian jewelry retailer and manufacturer Gitanjali Gems Ltd., owner of Samuels Jewelers Inc., said its United States sales grew 12 percent year-over-year in the first nine months of fiscal year 2014.
LVMH jewelry, watch sales up 4 percent in 2013
LVMH Moët Hennessy Louis Vuitton reported 4 percent organic revenue growth for its jewelry and watch division in 2013, led by an “excellent” performance in its directly owned boutiques, particularly Bulgari.
Amazon Q4 sales climb 20 percent, hit $25B
Sales were up again for Amazon.com in the fourth quarter, with the company reporting a 20 percent increase to $25.59 billion as compared with $21.27 billion in the same period last year.
Comps up at Michael Hill’s US stores
Same-store sales at Michael Hill’s U.S. locations were up 2 percent in local currency for the half-year period, the Australian retailer reported Thursday.
Pandora says Christmas sales beat expectations
Preliminary results released by Pandora Friday indicate that 2013 sales for the Danish bead brand will be up 35 percent year-over-year due in part to a better-than-expected holiday.
Richemont sales continue to climb in Q3
Swiss luxury goods group Richemont saw sales increase 9 percent at constant exchange rates to $4 billion in the third quarter, with both its jewelry and watch segments enjoying similar growth.
Branded jewelry, watches hot at Sterling
Sterling Jewelers Inc. reported a 5 percent year-over-year increase in same-store sales in November and December, driven by strong sales of branded merchandise and watches as well as beads.
Zale holiday comps up 2 percent
Calling its holiday season “solid” in a challenging retail environmental, Zale Corp. recorded a 2 percent year-over-year increase in same-store sales in November and December, the retailer reported Friday.
Sales increase but Neiman Marcus records loss
Sales rose but profits fell for high-end retailer Neiman Marcus in the first quarter of fiscal 2014, with the costs involved in its acquisition pushing the company into the red.
Discount chain Loehmann’s files Chapter 11
For the third time, 91-year-old retail chain Loehmann’s has filed for bankruptcy and this time the chain plans to sell to a group of liquidators, court papers show.
Nov. comps climb double digits for JC Penney
Due to “compelling promotions” J.C. Penney Co. Inc. recorded a 10 percent year-over-year increase in same-store sales in November, with its Modern Bride brand among the private labels showing signs of life.
Comps up 4 percent, color ‘hot’ at Sterling
Sterling Jewelers Inc. reported Tuesday that same-store sales increased 4 percent in the third quarter, led by strength in sales of colored diamond jewelry, bridal and watches.
Zale records 12th quarter of positive comps
Same-store sales grew in Zale Corp.’s fiscal first quarter, driven by strong sales at the company’s Zales- and Peoples-branded stores and of both bridal and core fashion jewelry.
Tiffany’s comps in the Americas up only 1 percent
Tiffany & Co. reported Tuesday that same-store sales in the Americas rose 1 percent in the third quarter, with the growth attributable to sales at the company’s flagship store in New York City.
Earnings roundup: Jewelry does well at JC Penney
Fine jewelry was one of the top sellers at J.C. Penney in the third quarter, a quarter in which the retailer saw signs of improvement, recording its first same-store sales increase in almost two years.
ShopHQ shifting away from jewelry
Third quarter sales grew for Shop HQ, formerly ShopNBC, as did the company’s customer base, a change it attributes to selling fewer items in the jewelry and watches category while bulking up its selection elsewhere.
Gitanjali still has eye on U.S. expansion
Gitanjali Group’s U.S. sales grew 12 percent year-over-year in the first two quarters of the fiscal year, and the company remains focused on expanding in markets outside of India.
Earnings roundup: Walmart, Kohl’s
Walmart Stores Inc. and off-price retailer Kohl’s Corp. released their
third quarter earnings Thursday, with same-store sales down for both as
the retail environment remains competitive.
JC Penney sees rise in same-store, online sales
J.C. Penney Co. Inc. said Thursday that its same-store sales increased 0.9 percent in the month of October, marking the first time the retailer has recorded positive same-store sales in almost two years.
Q3 jewelry sales slow for HSN
HSN Inc., the parent company of on-air and online retailer HSN, reported
Wednesday that the retailer’s sales were flat in the third quarter,
with jewelry cited as one of the weakest sellers.
QVC: One-third of online orders now mobile
Multimedia retailer QVC’s online sales accounted for 41 percent of its total U.S. revenue in the third quarter, and one-third of those sales were made to customers shopping from mobile devices.
Blue Nile: Half of holiday traffic will be mobile
The CEO of Blue Nile, which just recorded its sixth consecutive quarter of double-digital sales growth, said the company expects more than 50 percent of site traffic to come from mobile devices in the fourth quarter.
Amazon’s Q3 sales up more than 20 percent
Sales continued to climb for Amazon.com Inc. in the third quarter, with the company reporting a 24 percent increase to $17.09 billion as compared with $13.81 billion in the same period last year.
Watch, jewelry sales pick up for LVMH
After falling flat in the first half of the year, LVMH’s Watches &
Jewelry business group recorded organic revenue growth of 3 percent
through the first nine months of the year.
Jewelry sales strong at JC Penney
Fine jewelry, along with apparel and accessories, are among the
categories turning in an above-average performance at J.C. Penney Co.
Inc., the retailer said this week.