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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.
A “difficult” global environment and having to buy back watches from retailers battered sales and profits in the first five months of the company’s fiscal year.
The Paramus, N.J.-based watch company’s net sales totaled $128.1 million, compared with $145.6 million in the same period last year.
The New York-based jeweler had another difficult quarter, with total sales down 6 percent and comps declining 9 percent in the Americas.
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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.