FinancialsMar 19, 2026
Signet Jewelers to Close 100 Stores, Shutter James Allen BannerThe jewelry retailer announced changes to its store network and brand portfolio during its fourth-quarter earnings call.
SurveysApr 25, 2017
Pace of Store Closures Slowed in Q1, JBT Data Shows
A total of 229 jewelry stores shut down in North America in the first quarter 2017, compared with 268 in the first quarter of last year.
Warwick, R.I.--Jewelry stores are continuing to close though the pace has abated from the frenetic shuttering of doors recorded in 2016, the latest data from the Jewelers Board of Trade shows.
The JBT’s latest statistics show that in North America (the United States and Canada), a total of 292 jewelry retailers, wholesalers and manufacturers ceased operations in the first quarter 2017, down 17 percent from 353 in the first quarter 2016.
This includes 229 jewelers shutting down their stores, a 15 percent decline when compared with the same period last year.
Isolating the statistics for the United States, there were 277 jewelry retailers, wholesalers and manufacturers that ceased operations in the first quarter, down 14 percent from 323 in the first quarter 2016.
This includes the closure of 217 jewelry stores, compared with 244 in the same period last year.
“I was surprised by the magnitude of the closures when we got the year-end numbers in January,” JBT President Anthony J. Capuano told National Jeweler on Friday. “I was glad to see the results (for Q1 2017), but let’s keep in mind that the trend is still for there to be fewer jewelry companies.”
The number of companies that ceased operations dropped to start the year but they still numbered nearly 300, and the number of new jewelry businesses was down as well.
In North America, 48 new businesses registered with the JBT in the first quarter 2017: 38 retailers, five wholesalers and five manufacturers. By comparison, there were 73 new businesses in the first quarter 2016.
Total listings also are down, from 29,439 at this point last year to 27,706 now, a 6 percent decline.
“The trend hasn’t reversed itself (though) the pace and the momentum that we saw pick up last year seems to have abated a bit,” Capuano said.
Another notable change in the JBT’s first quarter statistics was the rise in the number of industry bankruptcies.
JBT data shows that there were seven bankruptcies--four wholesalers and three retailers--in the United States in first quarter 2017, up from four in the same period last year. (There were zero bankruptcies recorded in Canada.)
Capuano said the uptick in jewelry industry bankruptcies mirrors the nationwide trend.
CNBC reported at the end of March that retail bankruptcies are poised to hit a post-recession high, with nine big retailers--mall stalwarts like Wet Seal, Limited Stores Co. and BCBG Max Azria along with electronics chain
HH Gregg--filing for Chapter 11 in the first quarter alone, equaling the total for all of 2016.
But, he said, bankruptcies in the jewelry industry still remain well off of what they were in 2008 and 2009 at the height of the Great Recession.
As in prior periods, retailers simply closing up shop account for the bulk of the JBT’s business discontinuances, which include companies that have ceased operations (as recounted above), companies that have filed for bankruptcy and mergers/acquisitions.
“What we are seeing is a lot of the mom-and-pops just closing their doors quietly, not really leaving any obligations,” he said, adding that they are having a going-out-of-business sale and exiting the industry or moving into being part-time or private jewelers.
For the rest of 2017, Capuano said he expects to see continued consolidation in the industry.
While he hopes the slowdown in business closures will continue into the second quarter, he said it’s premature to say that it’s a trend or to determine if the industry saw the zenith of closures last year.
“I hope it (the first quarter data) bodes well for the year, but I think it’s too early to tell.”
But, he said, bankruptcies in the jewelry industry still remain well off of what they were in 2008 and 2009 at the height of the Great Recession.
As in prior periods, retailers simply closing up shop account for the bulk of the JBT’s business discontinuances, which include companies that have ceased operations (as recounted above), companies that have filed for bankruptcy and mergers/acquisitions.
“What we are seeing is a lot of the mom-and-pops just closing their doors quietly, not really leaving any obligations,” he said, adding that they are having a going-out-of-business sale and exiting the industry or moving into being part-time or private jewelers.
For the rest of 2017, Capuano said he expects to see continued consolidation in the industry.
While he hopes the slowdown in business closures will continue into the second quarter, he said it’s premature to say that it’s a trend or to determine if the industry saw the zenith of closures last year.
“I hope it (the first quarter data) bodes well for the year, but I think it’s too early to tell.”
More on Surveys
The Latest
AuctionsMar 19, 2026
26-Carat Diamond Tops $1M at AuctionThe historic stone, which sold at Elmwood’s in London, is the largest white diamond to be offered on the U.K. market in more than a decade.
Events & AwardsMar 19, 2026
JCK Rocks To Ride With NellyThree-time Grammy award-winning artist Nelly is set to perform at the annual event at Tao Beach in Las Vegas on May 31.
Brought to you by
Protect Your Customers and Your BusinessYou deserve to know what you are selling–to protect your customers as well as your business and your reputation.
AuctionsMar 18, 2026
Collection of the ‘Severely Beautiful’ Lady Wardington Fetches $161KThe model and fashion editor’s gold evening bags were the top lots at the London sale, going for more than $25,000 each.
Weekly QuizMar 19, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
PodcastsMar 18, 2026
Episode 3: An Interview With Jewelry Designer Johnny NelsonFresh off winning the David Yurman Gem Awards Grant, Nelson discusses the ring that launched his career and his plans for the future.
SourcingMar 18, 2026
Lucara Recovers Nearly 37-Carat Blue DiamondThe “stunning” Type IIb stone was found via x-ray technology at its Karowe mine in Botswana.
Brought to you by
Is This You? Every Jeweler Has This Problem; We Have the Solution.Every jeweler faces the same challenge: helping customers protect what they love. Here’s the solution designed for today’s jewelry business.
MajorsMar 18, 2026
Stuller Releases New Edition of Jewelry Education Book“The Basics of Jewelry” has been updated to include modern topics and visuals.
Events & AwardsMar 17, 2026
The Best Moments From the 2026 Gem Awards Held just before the Oscars, the jewelry industry’s big awards show had its share of standout jewelry, gowns, and acceptance speeches.
SourcingMar 17, 2026
Cruzeiro Mine Debuts ‘Winter Tourmaline’The Brazilian mine’s new collection features cabochons in soft, muted shades like silver and lilac.
TrendsMar 17, 2026
Natalie Portman Is Tiffany & Co.’s New AmbassadorThe Academy Award-winning actress stars in Tiffany & Co.’s latest commercial, which debuted Sunday night during the Oscars.
MajorsMar 17, 2026
Kering Establishes Jewelry Division, Appoints CEOThe organizational change follows Kering’s promise of a transformation after declining sales in 2025.
EditorsMar 16, 2026
2026 Oscars Jewelry: One Necklace After AnotherNatalie Francisco rounds up the top Oscars jewels, including Rose Byrne’s Taffin necklace with a more than 20-carat yellow-brown diamond.
WatchesMar 16, 2026
TAG Heuer Has a New CEOBéatrice Goasglas has been with TAG Heuer since 2018. She is the first woman to head the 166-year-old, LVMH-owned watch brand.
IndependentsMar 16, 2026
Ben Bridge Debuts New Honolulu BoutiqueThe store features the first in-store build for the jeweler’s in-house “Bella Ponte” bridal brand.
AuctionsMar 16, 2026
Bonhams Paris To Offer Antique, Signed Jewels The live fine jewelry auction will take place later this week, showcasing antique pieces, rare gemstones, and signed jewels.
CollectionsMar 13, 2026
A Trio of Jewels from the 3 Gem Award Nominees for Jewelry DesignOur Pieces of the Week honor the 2026 nominees for the Gem Award for Jewelry Design, Silvia Furmanovich, Cece Fein-Hughes, and Catherine Sarr.
WatchesMar 13, 2026
Citizen, Vera Wang to Launch Watch CollectionThe 24-piece watch collection is set to debut in spring 2027.
SourcingMar 13, 2026
Andrea Pooler Joins Third-Generation Diamond Company as COO Pooler, who has more than 25 years’ experience in jewelry, is now chief operating officer of Modani Jewels, Soham Diamonds, and SNJ Creations.
MajorsMar 13, 2026
24 Karat Club of New York’s Banquet to Return to Waldorf AstoriaThe reopening of the Waldorf Astoria means a homecoming for the industry group’s annual event, which will take place Saturday.
CollectionsMar 12, 2026
Jessica McCormack Sends Gold, Gemstones Into ‘Orbit’McCormack looked to the 19th century’s “golden age” of astronomy when designing her new celestial-themed collection.
Events & AwardsMar 12, 2026
Johnny Nelson Wins David Yurman Gem Awards GrantNelson will be honored as the inaugural grant winner at the Gem Awards gala on Friday.
TechnologyMar 12, 2026
Caratwise Launches, Names Former Signet Exec CEO The new smart design software allows jewelers to configure, price, and confirm a custom engagement ring in real time for in-store customers.
SourcingMar 12, 2026
Grandview Klein Opens New Factory in South Africa The 10,000-square-foot diamond manufacturing facility officially opened in late February and employs 50 people.
Events & AwardsMar 12, 2026
MJSA ‘Future of Jewelry Making’ Scholarship Applications OpenThe MJSA Education Foundation’s scholarships support students pursuing jewelry careers.
AuctionsMar 11, 2026
‘Spectacular’ 26-Carat Diamond Going Up for Auction in London The largest white diamond to come to market in the U.K. in more than a decade, the VVS1, I-color stone is expected to top $1 million.
