Jewelry price inflation continues to moderate
Only time will tell if Wall Street speculation that inflation is real and here to stay is correct. But we do know this: In the jewelry industry, inflation has been cooling since mid 2008, both at the...
Saks announces cost-reduction plan
New York--In response to the deteriorating economic environment, Saks Inc. today announced a series of expense, capital spending and inventory receipt reductions to better position the company for the...
Survey: Luxury, jewelry sales, not very jolly
Purchase, N.Y.--Luxury sales, especially sales of jewelry, slowed dramatically this holiday season, a survey from MasterCard Advisors shows.
Two on-air jewelry retailers announce layoffs
Both QVC and Jewelry Television are slashing their staffs in response to slowing sales in the face of the current economic crisis.
Consumer confidence bumps up in November
New York--The Conference Board Consumer Confidence Index, which sank to an all-time low in October, saw modest improvement in November, but consumer pessimism lingers, according to a new survey.
Study: Online jewelry sales drop 24% this holiday
Reston, Va.--Online sales of jewelry and watches didn't fare well this holiday season (Nov. 1-Dec. 24), falling 24 percent compared with the same period last year, according to the latest research...
Slow turn in economy not changing shopping habits
Washington, D.C.--Consumers need more proof the economy is slowly turning around as April retail sales show people continuing to cut back on discretionary spending, according to the National Retail...
Diamond industry players cut jobs amid slowdown
London--Mining company Rio Tinto and the Antwerp World Diamond Centre (AWDC) both are cutting jobs in an effort to save money amid the worldwide financial crisis.
JA, National Jeweler partner on profit-building tool
New York--Beginning this year, Jewelers of America (JA) and National Jeweler are combining two of the industry's most detailed research projects: JA's Cost of Doing Business Survey and National...
Study: Affluents changing consumption patterns
Stevens, Pa.--A new survey from Unity Marketing reveals that while the recession may be moderating among the affluent, there has yet to be a return to previous levels of luxury spending.
Cash-crunched Fortunoff files for Chapter 11
Westbury, N.Y.--Fortunoff Fine Jewelry and Silverware LLC has filed for Chapter 11 bankruptcy protection, citing the same dismal economic conditions afflicting retailers worldwide as well as a "severe...