Financial Reporting

Pandora sales flat, announces exchange program

Pandora has announced a program that will allow retailers to swap out discontinued merchandise for “best-sellers” on a one-for-one basis, a move that will be a drag on sales throughout 2012.

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Gitanjali's U.S. retail quarterly sales rise 8%

The 111 stores Mumbai-based Gitanjali Gems Limited operates in the United States grew in both sales and profitability in the third quarter, results released last week by the company show.

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U.S. comps rise 22% for Michael Hill

Same-store sales improved and losses narrowed in the United States for Australian jeweler Michael Hill, the company announced last week.

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Market Developments

Sterling’s Ed Hrabak promoted to COO

Sterling Jewelers, operator of Kay Jewelers and Jared the Galleria of Jewelry, announced Thursday that longtime executive Ed Hrabak will succeed Bill Montalto as chief operating officer.

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Brands tap into American Heart Month

Jewelers certainly stock their fair share of heart-shaped jewelry in February in anticipation of swooning sweethearts who want to say “I love you” with necklace or bracelet. But there also are brands creating heart-themed jewelry for a higher cause: American Heart Month.

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De Beers sponsors weddings in Empire State Bldg

On Valentine’s Day, four couples ascended more than halfway up the 102-story Empire State Building to exchange wedding vows, wearing rings from De Beers Diamond Jewellers.

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Public Policy & Issues

IDEX Online: Registration open for CIBJO Congress

CIBJO has launched an official website for its 2012 congress, scheduled for May 17-20 in Vicenza.

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$2M in counterfeit jewelry seized in Tucson

Federal authorities confiscated more than $2 million in fake luxury brand jewelry and arrested two exhibitors at the recent Tucson jewelry shows, U.S. Immigration and Customs Enforcement announced.

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Guide to weighing technology and regulation

Precision measurement instrument authority Urs Wolfensberger outlines technological advancements in jewelry scales and regulation affecting their use.

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eCommerce Developments

Gold buyback site sharing proceeds with charities

SellYourGold.com is teaming up with international recycling company TerraCycle Inc. to add a charitable aspect for consumers who are selling their precious metal jewelry for cash.

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Amazon ranks 'Most Romantic' U.S. cities

In honor of Valentine’s Day, Amazon.com recently released its list of the Top 20 Most Romantic Cities in the U.S. The most-amorous award went to a Southern city that is home to a well-known university.

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Swarovski rolls out Valentine’s Day apps

Swarovski has introduced two applications, one designed for Facebook and the other for mobile, both designed specifically for Valentine’s Day.

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