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“Restrained consumer spending” hit the jeweler hard this holiday season, particularly in the United States, and it is now cutting jobs.
They slid 3 percent at constant exchange rates, with sales growth by Van Cleef and Cartier offset by soft demand for watches.
Macy’s Inc. is laying off thousands of employees following a “disappointing” year that ended with a 5 percent slide in same-store holiday sales.
Signet Jewelers Ltd. reported a 5 percent increase in same-store holiday sales, driven by bridal and fashion diamond jewelry, particularly “Ever Us.”
Though sales and income fell slightly, Movado Group said its brands “outperformed” other watches in what its CEO described as an “extremely challenging retail environment.”
National Jeweler

Fine Jewelry Industry News

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.