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This file photo shows Tiffany & Co.’s flagship store on Fifth Avenue in Manhattan. The company said Tuesday that heightened security around Trump Tower has had some effect on foot traffic at the store. (Photo courtesy of Tiffany & Co.)
But the jeweler’s overall outlook remains cautious and it acknowledged that post-election activity around Trump Tower is impacting foot traffic at its flagship store.
Macy’s opening of a shop-in-shop for Hong Kong-based jeweler Chow Tai Fook in its Flushing (Queens), New York store was the fourth most-read story on National Jeweler last week.
A report on the retail jeweler’s third quarter results was the most-read story on National Jeweler last week.
The company is maintaining its outlook for the full fiscal year, with net sales predicted to fall between $550 million and $560 million.
The decrease, less than initially expected for the period, is attributed to declining sales in under-performing stores and weakness in energy-dependent regions.
But the company said it’s on schedule to meet its production target for both emeralds and rubies within the next three years.
Bain Capital Private Equity and Bow Street have entered into an agreement to buy the online retailer and take it private.
In Q3, the bead and jewelry company trimmed 103 retailers in the Americas and then dropped 700 in the month of October.
The owner of TAG Heuer watches and jewelry brand Bulgari said business has improved in the second half of the year.
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Since 1906, National Jeweler has been the must-read news source for smart jewelry professionals--jewelry retailers, designers, buyers, manufacturers, and suppliers. From market analysis to emerging jewelry trends, we cover the important industry topics vital to the everyday success of jewelry professionals worldwide. National Jeweler delivers the most urgent jewelry news necessary for running your day-to-day jewelry business here, and via our daily e-newsletter, website and other specialty publications, such as "The State of the Majors." National Jeweler is published by Jewelers of America, the leading nonprofit jewelry association in the United States.