TV shopping networks tuning in to Internet
While jewelry continues to be a key category for TV shopping retailers, online rather than on-air sales are the engine that has been revving up revenues in recent years.
Tiffany's 3Q sales drop
Weak U.S. sales led to a 1 percent drop in overall sales and a 7 percent drop in same-store sales for Tiffany and Co. for the third quarter, and the retailer says it is planning to cut expenses and...
Mervyns gets green light to go out of business
Hayward, Calif.--Regional retailer Mervyns LLC announced this week that the court has authorized the company to hold going-out-of-business sales at its remaining 149 stores.
AGTA, MVI add 'Consumer's Choice' to Spectrum Awards
Dallas—The American Gem Trade Association (AGTA), together with MVI Marketing, is introducing a new awards division to the AGTA Spectrum Awards: Consumer's Choice Honors.
Survey: Small-business optimism shrinking
New York--Economic challenges and rising energy costs have small-business owners feeling less secure about their future, according to a semi-annual survey of business owners by American Express Open.
Survey: Small-business optimism shrinking
New York—Economic challenges and rising energy costs have small-business owners feeling less secure about their future, according to a semi-annual survey of business owners by American Express...
CPM Group study projects rising silver prices
New York—The CPM Group has released the 2008 update to its Silver Long-term Outlook market study, which forecasts higher silver prices over the next decade due to increased supply coupled with...
Is e-commerce more resilient than other channels?
Las Vegas—Despite a struggling economy throughout most of this year, 72 percent of e-tailers believe the online channel is better suited to withstand an economic slowdown than offline channels.
IDI promotes Goren to marketing chief
Ramat Gan, Israel—The Israel Diamond Institute (IDI) Group of Companies has promoted Alissa Goren to the position of deputy managing director and chief marketing officer, a new position created...
Tiffany 2Q sales up 11 percent
New York—Second-quarter net sales for Tiffany and Co. worldwide increased 11 percent to $732.4 million for the three months ended July 31, largely buoyed by sales growth in the Asia-Pacific...
Industry objects to broadening platinum definition
New York—A number of industry organizations have filed a statement with the Federal Trade Commission (FTC) objecting to the FTC's proposal to broaden the definition of the word "platinum."
Saks sales slip 5.3 percent in July
New York—Same-store sales at Saks Inc. decreased 5.3 percent for the four weeks ended Aug. 4, and owned sales decreased 4.6 percent to $192.1 million, compared with $201.4 million for the same...
As U.S. business slips, India's eyes wander
Mumbai, India--Amid the hustle and bustle of the India International Jewellery Show (IIJS) this summer, one thing was clear: Other countries are learning to live without the U.S. demand for diamonds.
Wal-Mart 3Q net sales up 7.5 percent
Bentonville, Ark.—Net sales at Wal-Mart Stores Inc. increased 7.5 percent to $97.63 billion for the third quarter ended Oct. 31, compared with $90.83 billion for the same period last year, the...
Mervyns gets green light to go out of business
Hayward, Calif.—Regional retailer Mervyns LLC announced this week that the court has authorized the company to hold going-out-of-business sales at its remaining 149 stores.
New Gemesis site offers 'retailer locator'
Sarasota, Fla.—Gemesis, the Florida-based company known for its lab-grown colored diamonds, has redesigned its Web site.
Study: Consumer Spending Index turns negative
New York--Substantial increases in unemployment claims and a continued weakness in the housing market in October caused the Deloitte Research Leading Index of Consumer Spending to produce a negative...
Fortunoff requests Chapter 11 case dismissal
New York—Fortunoff Fine Jewelry and Silveware LLC has reached an agreement with a group of its creditors and is asking the court to dismiss its Chapter 11 bankruptcy case, court papers show.
NRF to Congress: Round 2 of economic stimulus needed
Washington—The National Retail Federation (NRF) is calling on Congress to hold a lame-duck session as soon as possible to address the country's financial state and to include tax relief for...
Blue Nile 3Q sales dip 2.9 percent
Seattle--Net sales at jewelry e-tailer Blue Nile decreased 2.9 percent to $65.4 million for the third quarter ended Sept. 28, compared with $67.4 million for the same period last year, the company...