MajorsTop Story
ShopNBC, Jewelry Television announce layoffsOn-air retailers ShopNBC and Jewelry Television are among the latest jewelry-related companies to announce they are cutting staff as sales wane in the face of the global economic crisis.Read More Majors NewsSpotlightFinancial Reporting
December retail sales drop 1.7 percentSlashing prices wasn't enough to entice consumers to spend this holiday season, as U.S. chain store sales fell 1.7 percent in December, according to the latest study from the International Council of Shopping Centers. Read More Macy's December sales down 4 percentCincinnati--Same-store sales at Macy's Inc. decreased 4 percent in December and 7.5 percent for the combined November-December holiday selling period, compared with the same periods last year, the company reported on Friday. Read More Saks December sales down 19.8 percentNew York--Same-store sales at Saks Inc. decreased 19.8 percent for the five weeks ended Jan. 3, and owned sales decreased 18.9 percent to $363.3 million, compared with $447.7 million for the same period last year, the company announced on Friday. Read More Market Developments
ShopNBC, Jewelry Television announce layoffsOn-air retailers ShopNBC and Jewelry Television are among the latest jewelry-related companies to announce they are cutting staff as sales wane in the face of the global economic crisis. Read More Waterford Wedgwood cracks, files for bankruptcyLondon--China and crystal maker Waterford Wedgwood PLC filed for bankruptcy protection on Monday, after attempts to glue the company back together or find a buyer failed, The Associated Press (AP) reported. Read More 
Rogers, Samuels pull designs amid lawsuitA judge has issued a restraining order that temporarily bans two Midwest chain retailers from selling or advertising specific pieces of diamond jewelry that Merit Diamond Corp. claims are copies of its own designs. Read More Public Policy & IssuesNRF asks Obama for national sales tax holidaysWashington--The National Retail Federation (NRF) today asked President-elect Barack Obama to incorporate a series of national sales tax holidays into upcoming economic stimulus legislation as an important step toward rebuilding consumer confidence. Read More N.Y. state considers increasing luxury goods taxAlbany, N.Y.--An additional sales tax of 5 percent on luxury goods costing more than $20,000--including jewelry--is one element of New York Gov. David Paterson's proposed $12.1 billion state budget, according to information provided by the governor's office. Read More CRJP releases certification documentsLondon--The Council for Responsible Jewellery Practices (CRJP) has released the implementation documents for its system of certifying responsible ethical, social and environmental practices through the diamond and gold jewelry supply chain, the group announced on Thursday. Read More E-Commerce DevelopmentsStudy: Online jewelry sales drop 24% this holidayReston, Va.--Online sales of jewelry and watches didn't fare well this holiday season (Nov. 1-Dec. 24), falling 24 percent compared with the same period last year, according to the latest research from ComScore. Read More 
Study: Online holiday sales drop 3 percentOnline spending for the 2008 holiday season decreased 3 percent to $25.5 billion, compared with $26.3 billion for the corresponding shopping days last year, according to the latest research from ComScore. Read More GemAffair.com, Twitter host holiday sweepstakesClearwater, Fla.--GemAffair.com, an online purveyor of fine gemstone jewelry, is using social-networking media to build buzz--and generate good will. Read More |
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