NRF: Stimulus bill doesn't do enough for consumers
Washington--The National Retail Federation (NRF) told the Senate on Thursday that the economic-stimulus legislation under consideration fails to do enough for consumers, and repeated its call for a...
As U.S. business slips, India's eyes wander
Mumbai, India--Amid the hustle and bustle of the India International Jewellery Show (IIJS) this summer, one thing was clear: Other countries are learning to live without the U.S. demand for diamonds.
NRF: Retail sales to drop 0.5 percent in 2009
Washington--Retail industry sales, excluding automobiles, gas stations and restaurants, are expected to decrease 0.5 percent compared with 2008, as consumers continue to shift their spending...
Blue Nile sales drop 7.5 percent in '08
Seattle--Net sales at jewelry e-tail giant Blue Nile were $85.8 million for the 14-week fourth quarter ended Jan. 4, compared with $111.9 million for the 13-week fourth quarter in 2007, the company...
NRF: Stimulus bill not enough to spark spending
Washington--The National Retail Federation (NRF) is continuing its strong push for consumers on Capitol Hill, reiterating that boosting consumer confidence is key to curing the nation's economic woes.
The WDN seeks lower taxes, tariffs on watch trade
In an effort to lower taxes and tariffs on watch imports and exports between the United States and other countries and thereby drive business, the head of The Watch Dealers Network is asking a federal...
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...
JCOC: Consumers remain down on economy
New York--Consumers remain pessimistic on the state of the U.S. economy and few have plans to buy jewelry in the near future, according to the latest economic tracking data from the Jewelry Consumer...
Study: Nation's richest continue luxury cutbacks
Stevens, Pa.--Once considered immune to the economic woes that plague middle- and lower-income consumers, the affluent are now taking a direct hit from the recession and thus changing their lifestyles...
JCOC: New year isn't renewing consumer confidence
New York--The latest data from the Jewelry Consumer Opinion Council (JCOC) shows that the start of the new year--and inauguration of a new president--did little to perk up consumer confidence in the...
De Beers notes improvement in diamond production
Gaborone, Botswana--Diamond mining resumed this week at three out of four mines in Botswana operated by Debswana, the joint venture between the government of Botswana and De Beers.
Birks and Mayors holiday sales down 26 percent
Montreal--Same-store sales at Birks and Mayors decreased 26 percent for the 2008 holiday selling season (Nov. 2-Dec. 27), compared with the similar period last year (Nov. 4-Dec. 29, 2007), the company...
Tired of negative news, jewelers?
New York--Pull up the Web site of any major, national news organization, and you won't have to look hard to find a story about the decrepit state of the U.S. economy and consumer confidence.
2008 U.S. sales plunge at Tiffany
New York--Sales slid in 2008 for retail stalwart Tiffany and Co., a decline fueled largely by weakness in the Americas, especially toward year's end.
Sales slowdown forces Sterling layoffs
Akron, Ohio--The recessionary economy has forced Sterling Jewelers Inc. to layoff 114 employees at its home office in Akron, Ohio, the company announced on Wednesday.
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...
JewelryBrands.net names new president
Beverly Hills, Calif.--Jewelry Brands dba JewelryBrands.net has appointed Lyle M. Rose as president, where he will be responsible for overseeing and expanding the company's special projects.
Rio Tinto anything but blue over tender results
Perth, Australia--Rio Tinto's recent tender of rare blue diamonds has set record prices, far exceeding the company expectations, according to a news release issued by the Australian mining company.
De Beers axes 25 percent of U.K. staff
London--Following a three-month comprehensive review, De Beers has cut about 25 percent of its United Kingdom staff, a spokeswoman confirmed to National Jeweler on Tuesday.
Worst is over, says Nielsen economic expert
Orlando, Fla.--"While fear is still weighing heavily on consumers' minds, we are beginning to see evidence of a number of positive economic points lining up," said James Russo, vice president of...