SourcingApr 18, 2024
Diamond Trade Remains Cautious Amid Economic UncertaintyDe Beers’ rough diamond sales were down 18 percent year-over-year in its latest round of sales.
EditorsDec 02, 2011
Is this what a recovery feels like?
In compiling our Majors newsletter yesterday afternoon, I noticed a trend among the stories I was loading, a trend that I haven’t seen in some time. All the quarterly financials for the major chains covered by National Jeweler and included...
In compiling our Majors newsletter yesterday afternoon, I noticed a trend among the stories I was loading, a trend that I haven’t seen in some time.
All the quarterly financials for the major chains covered by National Jeweler and included in that particular newsletter were positive. Comps rose 14 percent for Sterling Jewelers, 6 percent for Zale Corp., 15 percent for Tiffany & Co. in the Americas and 8 percent for Neiman Marcus.
The sales figures released by major chains are in harmony with the reports we received from retailers and the post-Black Friday sales figures released by a myriad of different analysts and agencies.
In short, it was a strong weekend for sales.
But, will this momentum continue through the holiday season and into next year? The answer seems to be nobody knows, or, at least, nobody can agree on a prediction.
In analyzing sales on Black Friday, The NPD Group Inc. said that the day came in with a “roar” as consumers packed stores early to take advantage of heavily advertised savings but went out with a “whimper.”
According to NPD, 56 percent of consumers who shopped on Black Friday said they weren’t likely to shop again that weekend, an indication that consumers are “tapped out,” one industry analyst said.
The National Retail Federation (NRF), the world’s largest trade association for retail, was more positive in assessing the weekend, stating in news releases recapping the weekend that retailers are “playing a significant role in powering the economic recovery” and that consumers are “clearly demonstrating their desire to spend this holiday season.”
The NRF did note, however, that while consumers are spending, they aren’t exactly sprinting to the cash register with armloads of full-priced merchandise. Both the NRF and the analysts interviewed in this story for The New York Times said retailers are going to continue to have to discount to drive sales throughout the rest of the holiday season.
What impact this will have on retailers’ bottom lines is yet to be seen, one analyst noted.
In addition, I found the conflicting viewpoints of two car company executives interviewed in this story to be interesting, even though it does not pertain to jewelry in particular. One said it was “overstating things” to say the auto industry was in the midst of a sustained turnaround while another offered the conflicting view that the current sales momentum was not an “aberration.”
So where does that leave us? It seems like we’re running out of clichés to use to describe how we feel about these uncertain times (see “cautiously optimistic”).
But let me borrow just one more: We’ll just have to “wait and see.”
I attended a watch event here in New York on Thursday afternoon and one of the executives told me that the company just experienced one of their best months ever for sales. Yet even he was unconvinced of the recovery, unable to commit to saying he expected a great holiday season.
I guess you could say he was “cautiously optimistic” about the weeks ahead.
More on Editors
The Latest
Supplier BulletinApr 18, 2024
Discover History’s Hidden Gems at the Las Vegas Antique Jewelry & Watch ShowSponsored by the Las Vegas Antique Jewelry & Watch Show
WatchesApr 18, 2024
Watch E-tailer Collectability Hires Kelly YochThe Patek Philippe expert will serve as personal curator for the brand-focused company.
Brought to you by
The Blueprint for Success in Scalable, Personalized Jewelry RetailWith Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
WatchesApr 18, 2024
TAG Heuer Opens Its Largest Standalone Boutique at SeaThe 553-square-foot shop is aboard the Carnival Jubilee cruise ship.
Weekly QuizApr 11, 2024
This Week’s QuizTest your jewelry news knowledge with this seven-question quiz.
Policies & IssuesApr 17, 2024
NDC Prevails in U.K. Case Over Lab-Grown Diamond AdvertisingNDC filed a complaint against Skydiamond for use of phrases like “diamonds made entirely from the sky.”
Events & AwardsApr 17, 2024
And the 2024 Winner of the Shipley Award Is … John Carter received the AGS’s highest honor Tuesday afternoon at Conclave in Austin, Texas.
Brought to you by
How Jewelers of America Represents Your BusinessFor over 30 years, JA has advocated for the industry, fought against harmful legislation and backed measures that help jewelry businesses.
FinancialsApr 17, 2024
LVMH’s Q1 Jewelry Sales Fall 5%LVMH said the company performed well despite an uncertain geopolitical and economic environment.
MajorsApr 17, 2024
Stuller’s B&D Opens New HeadquartersB&D Sales and Service held a ribbon-cutting event for its new location in Cranston, Rhode Island.
CollectionsApr 16, 2024
Akaila Reid Launches ‘Eat Cake’ CollectionIt’s ultra-feminine and filled with gold, pearls, and soft pastels.
MajorsApr 16, 2024
Loudr Adds 2 DirectorsEmily Highet Morgan and Emily Bennett have joined the agency’s team.
MajorsApr 16, 2024
Stuller Releases First Lab-Grown Diamond Jewelry CatalogIts updated book for mountings is also now available.
SourcingApr 16, 2024
Karen Rentmeesters Takes Over as Interim CEO of AWDCShe has been with the organization since 2010, most recently serving as its chief officer of PR and industry relations.
TechnologyApr 15, 2024
Judge Rules Jeweler’s Lawsuit Against PNC Bank Can Move ForwardJoyce’s Jewelry sued the bank after cybercriminals drained its accounts of nearly $1.6 million through a series of wire transfers.
IndependentsApr 15, 2024
Alfred W. DeScenza of DeScenza Diamonds Dies at 95He is remembered by loved ones for his loyalty, integrity, and kindness.
AuctionsApr 15, 2024
Madeleine K. Albright Jewelry, Pins Coming to AuctionHosted by Freeman’s | Hindman, the sale will take place May 7-8.
AuctionsApr 15, 2024
All of Sotheby’s ‘Rough Diamonds’ Sold in Less Than an HourThe auction house said all 24 timepieces offered in its underground sale of rare and avant-garde watches quickly found buyers.
Events & AwardsApr 15, 2024
10 Can’t-Miss Sessions at AGS Conclave 2024From lab-grown diamonds and AI to the inevitable Taylor Swift mention, here are some of Conclave’s most intriguing educational offerings.
Recorded WebinarsApr 12, 2024
Watch: What Jewelers Need to Know About InsuranceFrom cybersecurity liability to trade show coverage, insurance experts share tips on how to build the right policy.
CollectionsApr 12, 2024
Piece of the Week: Lionheart’s Evil Eye Gemstone CharmThe charm is a modern rendition of the evil eye amulet that has been worn for thousands of years.
Events & AwardsApr 12, 2024
The Jewelry Symposium Announces 4 Scholarship WinnersAhead of its trade show next month, TJS awarded free registration and accommodations to one jewelry professional and three students.
Policies & IssuesApr 11, 2024
SRK Exports’ Journey Toward Net Zero Impact By the end of this year, SRK’s diamond manufacturing complexes will achieve net zero emissions, one of an impressive array of achievements.
Lab-GrownApr 11, 2024
AGTA Bans Lab-Grown Diamonds, Gemstones at GemFairMembers can still sell lab-grown stones, it said, but only natural gems are allowed on the show floor.
IndependentsApr 11, 2024
Steven Rosdal, Co-Founder of Hyde Park Jewelers, Dies at 77He is remembered for his charisma, passion, integrity, kindness, and wit.
MajorsApr 11, 2024
Macy’s Opens Books for Possible BuyoutThe retailer also appointed two new board members, avoiding a proxy fight from a potential buyer.
CollectionsApr 10, 2024
Sylvie Launches New Nature-Inspired Collection, ‘Tulira’The bridal collection consists of 35 engagement rings and seven wedding bands.
