Pandora’s like-for-like sales were flat globally while they fell 7 percent in the United States.
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Boucheron had a “remarkable” first quarter while Pomellato posted solid growth.
De Beers said the main reason production leveled off in the first quarter is Venetia, which is transitioning to an underground operation.
Alongside its first-quarter results, LVMH announced it has scooped up a prominent French jewelry manufacturer primarily for Tiffany & Co.
The company’s third-cycle sales totaled $540 million, down only slightly from the same period in a strong 2022.
The watch company expects first-quarter sales to fall as much as 15 percent due to inflation and tough comps.
The jewelry giant’s full-year sales were essentially flat, brought down by fourth-quarter declines.
In its recent results, the company highlighted non-bridal jewelry sales and said its “inventory-light” showroom model may change.
New CEO Al Cook said the economic uncertainty that lingered in late 2022 caused sightholders to put off buying until later in 2023.
From inflation to lab-grown diamonds, jewelry industry experts Paul Zimnisky and Sherry Smith share their predictions for the year ahead.
The luxury titan’s revenue was up 15 percent year-over-year, though sales slipped in the fourth quarter.
Demand for luxury watches continues to exceed supply, spelling a strong quarter for the company.
In its full-year results, the Danish jeweler outlined its plans for the year ahead.
The increase reflects continued demand for diamond jewelry and for “provenance-assured” goods.
Acquired in 2021, the brand’s high jewelry sales have doubled and its new “Lock” collection was an instant hit.
Holiday sales fell short of the National Retail Federation’s expectations, rising only 5 percent year-over-year.
Buccellati, Cartier, and Van Cleef & Arpels posted strong sales in the luxury titan’s third quarter.
Strong jewelry sales and manufacturers’ desire to secure supply with known provenance pushed rough sales to their highest level since 2018.
The jewelry giant posted a decline in same-store sales in the third quarter but is gearing up for a season of growth.
Its Q3 sales dipped as inflation took its toll on shoppers in the U.S. and Europe.
As in September, the company’s sales were up slightly year-over-year but down month-to-month.
The CEO of Cartier told Bloomberg it will be toning down some of its marketing in response to the sharp increase in the cost of living.
The jewelry company posted a strong third quarter but remains cautious about the rest of the year.
The company opened five stores in the United States in the second quarter as it continues growing its footprint.
Announced during its Q3 earnings call, Pandora also spoke on its new lab-grown diamond jewelry line.