Jewelry & Precious Metals Financial Report | Jeweler Market Analysis

Q1 sales, profits increase for Movado

Movado Group Inc. reported Wednesday that its sales in the first quarter increased 6 percent year-over-year, driven primarily by sales of watches classified as accessible luxury.

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Tiffany’s Q1 comps in the Americas rise 3%

First quarter same-store sales in the Americas were up 3 percent year-over-year for Tiffany & Co. and the company said it plans to open six more stores in the region this year.

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Comps up 8%, bridal strong for Sterling

Same-store sales for Sterling Jewelers Inc. increased 8 percent in the first quarter, with bridal sales particularly strong and CEO Mike Barnes noting a “more stable” over retail environment in the United States.

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Earnings roundup: Sears, Target, TJ Maxx

Same-store sales declined or increased slightly in the first quarter for the three discount retailers that reported earnings this week, Sears, Target and T.J. Maxx.

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Former Signet CEO appointed to chair Zale board

Terry Burman, who spent a decade at the helm of Zale Corp. rival Signet, is the new chairman of the board at Zale, the company announced along with its third quarter earnings on Wednesday.

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ShopNBC is now ShopHQ

With its current licensing agreement with NBC Universal set to expire in January, multimedia retailer ShopNBC announced Wednesday that it has rebranded as “ShopHQ.”

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Q1 comps increase 6 percent for Saks

Saks Inc. reported that its same-store sales increased 6 percent in the first quarter, though fine jewelry was not among the merchandise categories the retailer listed as strong sellers in the period.

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Richemont chair taking 12-month sabbatical

Johann Rupert, the chairman of Richemont, will step away from the company for a year beginning this fall, the company announced when reporting its fiscal year results on Thursday.

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Earnings roundup: Walmart, JC Penney, Kohl’s

The discount retailers that reported their first-quarter financials on Thursday didn’t have a strong quarter due to an unseasonably cold spring and the payroll tax increase, which has taken a bite out of consumers’ take-home pay.

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Macy’s first quarter comps rise 4 percent

Same-store sales increased 4 percent year-over-year in the first quarter for Macy’s Inc., with an unseasonably cool spring in the north and “weakness” among consumers at both ends of the income spectrum impacting sales.

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Pandora’s Q1 sales in the Americas up nearly 40%

Pandora reported a “strong start” to 2013, with year-over-year comparisons boosted by the fact that delivery of the Valentine’s Day collection and the Easter holiday fell in the first quarter this year.

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J.C. Penney anticipates Q1 comps will slide 17%

J.C. Penney Co. Inc. warned investors on Wednesday that it is not expecting a strong first quarter of sales as the retailer struggles to regain its footing and win back customers lost by changes instituted under its former CEO.

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Online, mobile drive increase in sales for QVC

QVC’s U.S. sales increased 5 percent in the first quarter, fueled by growth in e-commerce and mobile revenue, which now accounts for nearly 30 percent of online sales, parent company Liberty Interactive Corp. reported Wednesday.

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Engagement ring sales up 19% for Blue Nile in Q1

Online retailer Blue Nile reported solid first quarter results, with total sales increasing 17 percent on the back of a record first quarter for engagement ring sales in the U.S. market.

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Sales up 2% in Q1 for HSN, jewelry weak

Sales and profits rose slightly in the first quarter for HSN with jewelry among the categories cited as recording lower sales, the multimedia retailer reported Thursday.

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Q1 sales up more than 20% for Amazon.com

Sales continue to grow for e-commerce giant Amazon.com, with the company posting a 24 percent increase in revenue for the first quarter.

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Q1 jewelry, watch sales up 2% for LVMH

LVMH’s watch and jewelry brands recorded a relatively weak quarter, posting the lowest year-over-year sales gain of any of the luxury conglomerate’s business groups.

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In need of cash, Penney turns to credit facility

J.C. Penney Co. Inc. announced Monday that it has drawn $850 million out of its $1.85 billion committed revolving credit facility to cover capital expenditures, including the purchase of inventory for its newly renovated home departments.

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Sales up at Michael Hill’s US stores

Jeweler Michael Hill International Ltd. reported Wednesday that the stores it operates in the United States experienced a 5 percent increase in sales for the nine-month period ended March 31.

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Signet reports ‘excellent’ year, keeps expanding

Sales and profits continued to climb in the U.S. market for Signet Jewelers Ltd. in fiscal 2013, and the company said it plans to open as many as 75 new U.S. stores this year.

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Tiffany CEO ‘not pleased’ with 2012 results

Tiffany & Co.’s same-store U.S. sales declined in the fourth quarter and full year as the company was hurt by softness in sales of lower-priced silver jewelry.

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Movado anticipates 10% annual growth

Movado Group Inc. predicts that its sales will grow 10 percent and operating profit will increase 20 percent every year for the next four years, driven by the company’s brands and infrastructure.

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Costco’s Q2 sales up, fires back in Tiffany suit

On Tuesday Costco Wholesale Corp. reported increases in same-store and total sales as well as income in the second quarter of its fiscal year, ended Feb. 17.

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Q4, fiscal year sales up for ShopNBC

ValueVision Media Inc., the multichannel retailer operating as ShopNBC, reported net sales of $177.5 million for the fourth quarter ended Feb. 2, a 20 percent increase from $147.5 in the prior-year period.

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Earnings roundup: Sears, Kohl’s

Sears Holdings Corp. and Kohl’s Corp. posted weak same-store sales results for the fourth quarter or full year, earnings released Thursday by the retailers show.

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