IndependentsJan 03, 2025
Kelly Newton, Shipley Award Winner and Devoted Family Man, Dies at 74Newton owned and operated Newton’s Jewelers in Fort Smith, Arkansas, and is remembered for being positive, honest, and loving.
SurveysJan 19, 2018
Store Closures, New Businesses Both Continue to Slow
Jewelers Board of Trade statistics show that the number of store closures was down 41 percent in 2017 while the number of new businesses also shrank.
New York--In 2017, 678 retail jewelers ceased operations in the United States, down 41 percent when compared with the 1,156 retailers who did so in 2016, statistics released Thursday by the Jewelers Board of Trade show.
Counting wholesalers and manufacturers, the total number of jewelry businesses that closed in the U.S. last year was 852, compared with 1,518 last year.
Including Canada, 706 retailers, 109 wholesalers and 71 manufacturers closed up shop during the full year 2017, compared with 1,190, 235 and 139, respectively, last year.
It is not surprising that the year finished with fewer store closures, as the number has been down year-over-year every quarter this year, including the fourth.
The JBT’s statistics for Q4 2017, also released on Thursday, show that 161 jewelers closed up shop in the U.S., compared with 289 in the fourth quarter of last year, a 44 percent drop.
There also were 34 retailers that consolidated via a sale or merger and three that declared bankruptcy, bringing the total number of retail “business discontinuances,” as the JBT refers to them, to 198 in the U.S. in the fourth quarter.
Counting wholesalers and manufacturers, the total for businesses ceasing operations, filing for bankruptcy and engaging in a sale or merger in the U.S. during the three-month period was 241, down from 413 last year.
Including Canada, the total number of jewelry business discontinuances was 251, down from 425 in Q4 2016.
But the slowing rate of discontinuances wasn’t the only trend that continued; new business listings also were down.
In the U.S. in the fourth quarter, there were 38 new retailers compared with 48 in the fourth quarter 2016. There also were three new wholesalers and four new manufacturers during the quarter, compared with nine and one, respectively, for Q4 2016.
When looking at the full year, there were 131 new retailers in the U.S. in 2017 compared with 214 in 2016.
Including Canada, there were 42 new retailers in North America in the fourth quarter and 140 in the full year, compared with 48 in Q4 2016 and 218 for the full year.
Total listings for the U.S. jewelry industry ended the year down 4 percent at 26,031, compared with 27,059 the year prior.
Including Canada, the listing total for the year was 27,286, also a 4 percent decline from 2016.
Editors' Picks
Sponsored by
More on Surveys
The Latest
Events & AwardsJan 03, 2025
12 Works by Glenn Lehrer, Paula Crevoshay on Display at Lapidary Museum“Synergy & Symbiosis” is open now through late April at the Lizzadro Museum of Lapidary Art in Oak Brook, Illinois.
CollectionsJan 03, 2025
Piece of the Week: Renna’s ‘Butterfly Caspian’ NecklaceBegin 2025 with a butterfly intaglio symbolizing change and transformation.
Brought to you by
A Diamond Is Forever Celebrates "Forever Present" Holiday CampaignA Diamond is Forever hosted a holiday celebration in honor of their new marketing campaign, ‘Forever Present.’
CrimeJan 02, 2025
Rolex Sale That Went South Led to Murder of Florida Jeweler, Report SaysJeweler Anthony D’Amore was found dead inside his office Dec. 23, marking the fourth jeweler killed on the job in 2024, according to JSA.
Weekly QuizDec 27, 2024
This Week’s QuizTest your jewelry news knowledge by answering these questions.
WatchesJan 02, 2025
Ben Bridge Opens Tudor Boutique in HonoluluThe opening marks Tudor’s first location in Hawaii.
SourcingJan 02, 2025
Gemfields Resumes Ruby Mining in MozambiqueThe miner temporarily halted operations on Dec. 24 following an invasion at the mine.
Brought to you by
De Beers Group Launches Holiday Campaign for Natural Diamonds‘Forever Present’ campaign revives the iconic A Diamond is Forever tagline and celebrates the diamond dream.
TrendsJan 02, 2025
Amanda’s Style File: New Year, New Jewels Set the tone for 2025 and commemorate the year gone by with glamorous jewelry fit for celebration.
IndependentsDec 30, 2024
In Memoriam: Jewelry Industry Leaders and Innovators We Lost in 2024From groundbreaking designers to dedicated retailers, National Jeweler pays tribute to the colleagues we bid farewell to this year.
MajorsDec 30, 2024
Saks Global Finalizes Acquisition of Neiman MarcusThe retailer’s portfolio now includes Neiman Marcus, Bergdorf Goodman, Saks Fifth Avenue, and Saks Off 5th.
Events & AwardsDec 30, 2024
Registration Now Open for JIS Spring 2025The jewelry trade show is set for March 9-11 in Miami.
IndependentsDec 30, 2024
MJSA Elects New Board ChairEdward N. DeCristofaro, who served as MJSA’s board chair from 2012 to 2014, is returning to the role.
MajorsDec 27, 2024
Buccellati to Expand Workforce by 500 Employees Over Next Three YearsThe Richemont-owned company is investing in its jewelry production and watchmaking workshops.
SourcingDec 27, 2024
IDCA Announces 2025 Board MembersManoj Bhandari, a principal of RMC Gems Inc., is the new president of the Indian Diamond & Colorstone Association.
Events & AwardsDec 27, 2024
18 Designers Graduate from WJA’s Jewelry Loupe ProjectThe designers participated in a six-month business development and mentorship program to develop and launch their jewelry collections.
MajorsDec 24, 2024
Nordstrom Family, Partner to Take Retailer Private in $6B DealMembers of the founding family have partnered with Mexican retail company El Puerto de Liverpool to acquire Nordstrom.
MajorsDec 24, 2024
Boucheron Bets on Las VegasThe brand has opened its second U.S. location in the Fontainebleau resort and casino.
EditorsDec 24, 2024
The Spectrum Jewels I Want to Find Under the Tree Associate Editor Lauren McLemore highlights pieces from the AGTA Spectrum & Cutting Edge Awards she’d be thrilled to unwrap on Christmas.
SourcingDec 24, 2024
Gemfields to Temporarily Suspend Emerald MiningThe move is one of several cost-cutting measures outlined by the company as it faces a weaker luxury market and other challenges.
IndependentsDec 23, 2024
Philadelphia 76ers’ Tyrese Maxey Stars in The 1916 Company’s New CampaignThe retailer’s “On the Clock” campaign celebrates how time, precision, and purpose come together.
EditorsDec 23, 2024
My Favorite Piece of the Week Jewels of 2024Associate Editor Natalie Francisco chose her 12 favorite Piece of the Week picks from the year gone by.
GradingDec 23, 2024
GIA Adds Filler Identification to Emerald ReportsLab clients have the option to request this addition on their emerald reports.
Events & AwardsDec 20, 2024
Two Participants Complete Inaugural Ella Klein InternshipJamie Dunton and Gabriella Botelho are the first graduates of the program, created by the WJA Foundation and Julius Klein Diamonds.
CollectionsDec 20, 2024
Piece of the Week: Retrouvaí’s Ring for CharityIn the spirit of giving, Retrouvaí will donate $4,000 from the sale of this ring to the Los Angeles Regional Food Bank.
IndependentsDec 19, 2024
Michigan’s DeVries Jewelers Unveils New Location in Time for the HolidaysCo-owner Dan DeVries shared what it’s like moving into a space triple the size of its old store and how it feels to be a “real jeweler” now.
CollectionsDec 19, 2024
State Property Transforms Spain’s Generalife Gardens into JewelryAlong with the latest “Gardens” collection, the brand has released limited-edition designs offering more indulgent pieces.
