Wheat Ridge, Colorado police took a 50-year-old man into custody Wednesday following a two-month search.
Specialty jewelers see strong growth in June
While U.S. fine jewelry and watch sales, as well as sales from multi-line retailers, were down, specialty jewelers bucked the trend.
New York--U.S. fine jewelry and watch sales fell 2 percent year-over-year in June, the latest data from the U.S. Department of Commerce shows.
But, an interesting trend occurred in jewelry sales for the month, according to jewelry industry analyst Ken Gassman.
Specialty jewelers--those retailers that sell fine jewelry and watches and little or nothing else--posted strong gains in June, with sales hitting $2.3 billion, a nearly 8 percent year-over-year increase. Meanwhile, jewelry sales at multi-line merchants declined nearly 8 percent in the month.
Gassman noted that while not common, this type of divergence in jewelry sales is not unrealistic. In May, overall jewelry industry sales were up while specialty jewelers’ sales were down. In other months in the past as well, including November 2014, there have been splits between the sales performances of the two.
There were two factors that came together to affect the June sales data, Gassman said.
The first is the U.S. Commerce Department’s major revision to its total U.S. jewelry and watch sales data. The other is the fact that June jewelry sales are modest in general, which means that any movement in sales can result in a large change in percentage for the month.
In his analysis, Gassman also noted that these numbers are based on a sample and more monthly revisions to come will help paint a better picture.
The new data from the Commerce Department’s annual revision shows that U.S. fine jewelry and watch sales totaled $74.7 billion in 2014, down from its earlier estimate of $78.1 billion.
The department also revised its data upward for 2012 but downward for 2013. The new figures ultimately show that the U.S. jewelry industry has posted only modest sales growth over the past few years.
The revised data also shows that specialty retailers continue to lose market share to multi-line retailers that also sell jewelry; they currently make up about 41 percent of total U.S. jewelry sales.
The Latest
PGI partnered with four new and seven returning designers for its annual platinum capsule collection.
Nicolosi, president and CEO of The Kingswood Company, previously sat on WJA’s board from 2011 to 2018.
Meet Ben Claus—grand prize winner of For the Love of Jewelers 2023 Fall Design Challenge.
Karina Brez’s race-ready piece is a sophisticated nod to the horse-rider relationship.
The men are allegedly responsible for stealing millions in jewelry and other valuables in 43 burglaries in 25 towns across Massachusetts.
“Horizon” invites individuals to explore the limitless possibilities that lie ahead, said the brand.
With Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
The jeweler credits its recent “Be Love” campaign and ongoing brand revamp for its 17 percent jump in sales.
The co-founder of Lewis Jewelers was also the longtime mayor of the city of Moore.
Elvis Presley gifted this circa 1967 gold and diamond watch to Dodie Marshall, his co-star in “Easy Come, Easy Go.”
May’s birthstone is beloved for its rich green hue and its versatility.
Jacqui Larsson joins Opsydia with nearly two decades of experience in the industry.
Last month in Dallas, David Walton pushed another jeweler, David Ettinger, who later died.
The “Tiffany Céleste” collection reimagines designer Jean Schlumberger’s interpretations of the universe.
The brand also created a 100-carat lab-grown diamond necklace in honor of its centennial.
Tim Schlick has been promoted from his previous position as COO.
It’s the second year for the event, slated to take place in October in Toronto.
Supplier Spotlight Sponsored by GIA
Sales will be paused while the relocation takes place over the next few months.
“SIS x MISA Denim and Diamonds” is a collaboration between the designer and celebrity stylist Misa Hylton.
The retailer is moving to a newly designed space in the same shopping center.
The necklace is featured in the brand’s “Rebel Heart” campaign starring Adam Levine and Behati Prinsloo.
The two organizations will host a joint event, “Converge,” in September 2025.
Big changes appear to be on the horizon for the diamond miner and its parent company, Anglo American.
Padis succeeds Lisa Bridge, marking the first time the organization has had two women board presidents in a row.