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 Christian Bernard files for bankruptcyChristian Bernard Stores Corp. filed for Chapter 7 bankruptcy the day after Christmas, citing falling sales and limited access to credit, court documents show. Read More 
J.C. Penney 'Doghouse' spot has viewers howlingPlano, Texas--Chain retailer J.C. Penney's "Beware of the Doghouse" holiday commercial has become an Internet sensation, garnering both criticism and applause from the millions who have the viewed the online jewelry ad. Read More Macy's acts to amend bank credit facilityCincinnati--Macy's Inc. announced today that it has amended its existing bank credit agreement, led by Bank of America and J.P. Morgan. Read More NRF: Emotional ads hit home this holiday seasonWashington--Ads that touch both on the emotional side of holiday shopping as well as price are proving to be among consumers' favorites this year, according to the latest research by the National Retail Federation (NRF). Read More 
GemEx files false-advertising suit against ZaleGemEx Systems is accusing Zale Corp. of false advertising in a lawsuit that claims the jewelry chain is deceiving consumers by stating that the grading reports accompanying its new, branded "Celebration" diamonds measure light performance. Read More Kohl's, Forever 21 pick up 46 Mervyns' locationsMenomonee Falls, Wis.--Kohl's Corp., in a joint bid with Forever 21 Inc., picked up the leases for 46 locations of former department store rival Mervyns at auction. Read More ICSC campaign supports brick-and-mortar retailersNew York--Shop locally and save valued services. This is the message the International Council of Shopping Centers is sending to consumers to encourage them to patronize brick-and-mortar retailers. Read More Lenox files for Chapter 11Eden Prairie, Minn.--Tabletop, giftware and collectibles company Lenox Group Inc. has filed a voluntary petition for Chapter 11 bankruptcy protection, with the ultimate goal of selling the business. Read More Tiffany looks to reduce staff through retirement planNew York--Luxury retail jeweler Tiffany and Co., which recently announced a drop in sales for the third quarter, is now making plans to adjust its staffing levels in the United States. Read More Yehuda sues Blue Nile over treatment disclosureNew York--Yehuda Diamond Co. has filed a lawsuit on behalf of consumers who purchased emeralds from Blue Nile, claiming the Seattle-based online jewelry retailer sold treated emeralds without the full disclosure required under Federal Trade Commission (FTC) guidelines. Read More 
Is Zale chief's strategy 'nuts' enough to work?Irving, Texas--Jewelry retailing experience is conspicuously absent from the resume of Zale Corp. Chief Executive Officer Neal Goldberg. Read More JSA: NYC diamond firms warn of suspicious lettersThe Jewelers' Security Alliance is telling industry members to be wary about suspicious inquiries after two New York-based diamond companies received letters from alleged independent private jewelers who claimed to be seeking a diamond supplier. Read More 
Destino wins GIA's Liddicoat awardCarlsbad, Calif.--In tribute to his 16 years of "selfless and remarkable contributions," the Gemological Institute of America (GIA) has bestowed Ralph Destino, the institute's chairman emeritus, with its highest honor, the Richard T. Liddicoat Award for Distinguished Achievement. Read More 
Wobbly market drives record Q3 gold demandLondon--As Lehman Brothers collapsed and bank fears grew in recent months, investors worldwide seeking safe havens turned to gold, with dollar demand for the metal reaching all-time records in the third quarter of 2008, according to a new report from the World Gold Council (WGC). Read More Wal-Mart names Duke new CEOBentonville, Ark.--In a surprise announcement on Friday, Wal-Mart Stores Inc., the world's largest retailer, said that its chief executive will retire in February, and that he will be replaced by the head of its international division. Read More GIA names Borsheim's Jacques board chairCarlsbad, Calif.--The Gemological Institute of America's (GIA) board of governors concluded its second meeting of the year on Monday, naming a new board chair and vice chair, seating four new governors and expanding the office of the GIA president. Read More Landau re-launches moissanite in storesMorrisville, N.C.--The Landau chain of accessory boutiques has re-launched the moissanite fine-jewelry category in select locations throughout the country, a decision based upon strong consumer demand and past success with the category. Read More Tiffany honored for eco-consciousnessNew York--Tiffany and Co. has won the Environmental Media Association's (EMA) most prestigious honor, the Corporate Responsibility Award. Read More 
Two on-air jewelry retailers announce layoffsBoth QVC and Jewelry Television are slashing their staffs in response to slowing sales in the face of the current economic crisis. Read More Burman to remain Signet CEO until 2011London--Signet Jewelers announced today that Terry Burman has agreed to remain Group chief executive officer until Jan. 29, 2011, at which time he will retire. Read More 
De Beers details 'unprecedented' holiday ad blitzNew York--Stressing the appeal of owning "fewer, better things," De Beers' newly intensified holiday marketing campaign will promote the diamond jewelry gift as a rock-solid "icon of enduring value" in rickety economic times. Read More 
Foreign retailers bullish on U.S., despite slowdownNew York--The weak dollar and a series of bankruptcies among some of the country's largest jewelry retailers have opened the door to foreign-based retailers that have long sought entry into the U.S. market. Read More |
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