MajorsOct 23, 2026
PGI USA Set to Close at Year’s EndThe closure is part of a global restructuring that also includes PGI winding down its operations in Japan, South Korea, and Hong Kong.
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
SourcingOct 23, 2026
Rachel Chalchinsky’s ‘Survivor Tribute’ RingThe ring, our Piece of the Week, was designed by eight-year breast cancer survivor Rachel Chalchinsky of Color Source Gems.
TechnologyOct 23, 2026
JA Unveils New Website, LogoThe website offers enhanced member benefit access, industry directories, educational resources, a job board, and access to the MJSA Journal.
Brought to you by
A Diamond Is Forever Launches 2026 Holiday Campaign Championing Natural DiamondsA Diamond Is Forever's holiday campaign reimagines natural diamond icons for a new generation celebrating individuality.
FinancialsOct 23, 2026
Kering’s Jewelry Sales Up Double Digits in Q3Boucheron and Pomellato had a strong third quarter, with Kering looking at jewelry as an increasingly important part of its portfolio.
Weekly QuizOct 22, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CrimeOct 22, 2026
Jeweler Shot and Killed in His Suburban Cincinnati Store Tara Sinchuri was the owner of Everest Jewels in Fairfield, Ohio, and a father of three. He was found dead in his store on Tuesday.
MajorsOct 22, 2026
Neiman Marcus Has Gifts for the Jewelry Lover Who Has EverythingBespoke experiences from Buccellati and Verdura are on the retailer’s 2026 “Fantasy Gifts” list.
Brought to you by
Open an Account, Get $50 Off Your First Order. No Code Needed.Built on Relationships. Refined by Craft.
Events & AwardsOct 22, 2026
JIS Fall 2026 Reports Record-Breaking Attendance The number of participants at the fall show was up 12 percent.
CollectionsOct 22, 2026
Billie Eilish, Finneas Co-Design Collection for John HardyThe Academy and Grammy award-winning siblings have collaborated with John Hardy on a new jewelry line inspired by their personal style.
PodcastsOct 21, 2026
Episode 10: This Episode Is Haunted Diana Singer shared the stories of two “cursed” diamonds on this month’s podcast, which was inexplicably riddled with technical issues.
IndependentsOct 21, 2026
Gardner-Collier Jewelry to Close After 9 Decades in BusinessThe family-owned jeweler has three locations across Missouri and Iowa.
SourcingOct 21, 2026
Venetia Mines Final Carats Ahead of 2-Year ShutdownThe De Beers-owned diamond mine in South Africa is being put on ice as part of a round of previously announced cost-cutting measures.
CollectionsOct 21, 2026
Helzberg, Nordstrom Carrying New Jewelry Collection From Off-WhiteThe collection centers designs with clean geometric lines, chunky sculptural pieces, and recognizable details from the luxury fashion brand.
SourcingOct 21, 2026
Gemfields’ Mixed-Quality Ruby Auction Earns $52MThe miner said it saw particularly strong prices for larger, fine-quality rubies at the sale.
CrimeOct 20, 2026
Security Guard Charged With Murder in Shooting at Texas MallThe guard opened fire on a man who was smashing a jewelry display case at La Gran Plaza in Fort Worth last week, police said.
IndependentsOct 20, 2026
David Gardner’s Jewelers Unveils Newly Expanded, Revamped ShowroomThe Texas jeweler added 2,000 square feet to its reimagined showroom, complete with a new design studio and an event space.
SourcingOct 20, 2026
The $50M Victoria’s Secret ‘Fantasy Bra’ By The NumbersJacob & Co.'s diamond masterpiece is the most expensive Fantasy Bra ever worn on the Victoria’s Secret Fashion Show runway.
CollectionsOct 20, 2026
Mignon Faget’s Collection Chooses Handmade Over AIThe “Atelier” collection was inspired by the tools, rituals, and objects in an artist’s studio as a quiet rebuttal to an automated world.
MajorsOct 19, 2026
The Knot to Acquire Rival Wedding Planning Platform ZolaThe pending acquisition is an “exciting opportunity” for wedding vendors to grow their business, said The Knot Worldwide’s CEO.
SourcingOct 19, 2026
Jewelry Design Competition Show Airs in Thailand"The Secret Gems" features eight Thai jewelry brands paired with a team of young craftspeople who create jewelry together to win challenges.
CollectionsOct 19, 2026
John Hardy Enters the Medallion Chat With Talisman Collection The brand’s “Modern Talisman” capsule collection introduces pendants inspired by the mythology, natural world, and spiritual ethos of Bali.
IndependentsOct 19, 2026
The Stories of 5 Jewelers Celebrating Their Centennials in 2026Independent jewelers from New Mexico to New Jersey answer the question: What has kept your store in business for 100 years?
CollectionsOct 16, 2026
Christina Puchi’s Earrings Hold the UniverseOur Piece of the Week gathers the planets, represented by a variety of colored gemstones, in a pair of 14-karat yellow gold earrings.
IndependentsOct 16, 2026
Reeds Jewelers Expands, Relocates FlagshipThe New York-based jeweler is moving its Amherst flagship store to a larger location in nearby Snyder.
MajorsOct 16, 2026
Katy Chen Appointed Executive Vice President of Graff USA Chen, who worked at Cartier and Tiffany & Co., will lead retail sales and operations for the luxury jeweler’s 11 U.S. stores.
IndependentsOct 15, 2026
Retailer Hall of Fame 2026: Amy and Elise Greenberg For 40 years, sisters Amy and Elise Greenberg have helmed their 126-year-old family business, leading with appreciation and integrity.
