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Bright spots for the American watchmaker included sales in Europe and growth in the online channel.
The jeweler’s retail sales in mainland China were up more than 70 percent in the third quarter.
Early holiday shopping bolstered retail sales in October, according to the National Retail Federation.
Cartier’s Clash de Cartier and Van Cleef & Arpels’ Perlée collection were among the top sellers in the first half of the year.
The jewelry company expects to have to close 18 percent of its stores this month due to COVID-19 restrictions.
Boucheron and Qeelin performed well in the Asia Pacific region, but struggled elsewhere as tourist numbers dwindled.
Total quarterly revenue in the conglomerate’s watches and jewelry segment was down 16 percent year-over-year.
The consumer confidence index saw the highest month-over-month increase in 17 years in September but remains below pre-pandemic levels.
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Fine Jewelry Industry News

Since 1906, National Jeweler has been the must-read news source for smart jewelry professionals--jewelry retailers, designers, buyers, manufacturers, and suppliers. From market analysis to emerging jewelry trends, we cover the important industry topics vital to the everyday success of jewelry professionals worldwide. National Jeweler delivers the most urgent jewelry news necessary for running your day-to-day jewelry business here, and via our daily e-newsletter, website and other specialty publications, such as "The State of the Majors." National Jeweler is published by Jewelers of America, the leading nonprofit jewelry association in the United States.