SourcingJul 27, 2026
‘Rubies’ Goes on Display at Harvard MuseumThe exhibition reveals the gemology, geology, and cultural history of the iconic red gemstone.
SurveysApr 30, 2018
Store Closures Continue, But Openings Pick Up
For the first time in a long time, JBT data shows an uptick in the number of new jewelry businesses in the U.S.
JBT data for Q1 shows that the number of retailers, wholesalers and manufacturers that opened in the U.S. rose to 62 in Q1, up from 46 last year. Of those 62 new businesses, 45 were retailers.
New York—For the first time in a long time, the Jewelers Board of Trade’s quarterly data showed an uptick in the number of new jewelry businesses in the United States.
It was a small increase, and the slow, steady reduction in the overall number of retailers, manufacturers and wholesalers in North America continues.
The JBT’s number of total listings for the U.S. was 25,667 at the end of the first quarter, down 4 percent year-over-year. Counting Canada, total listings stand at 26,903.
But as new JBT President Richard Weisenfeld pointed out Friday, the rate of closures remains lower than what it was in the post-recession spike of 2014-2016.
“It seems like the shrinkage has slowed a little,” he said. “It will be interesting to see if that continues.”
In addition, preliminary results indicate jewelry sales are up so far in 2018, he said, meaning better results for the retailers that remain.
Closings and Openings
The number of U.S. jewelry businesses—meaning retailers, wholesalers and manufacturers—that closed in the first quarter totaled 288, up slightly (4 percent) from 277 in the same period last year.
Among retailers, closings numbered 241, an 11 percent increase from 217 in the same period last year.
The continuing closure of jewelry stores is not happening in a vacuum but, rather, against a backdrop of changes in a market that is “over-stored” for the digital age. The U.S. has about 24 square feet of retail space per capita, compared with, for example, about 5 square feet in the E.U., according to a recent report from PricewaterhouseCoopers LLP.
Signet is set to close a net of about 165 stores this year, yes, but they are not alone.
Macy’s, Sears, Sam’s Club, GNC and Foot Locker are among the dozens of retailers that have announced plans to shutter locations nationwide, and some major retailers are exiting the market entirely. After creating generations of Toys “R” Us kids, the retailer is going out of business, as is department store chain Bon-Ton.
“There’s still going to be a lot of stores closing,” Weisenfeld said. “(But) it’s not just the jewelry business; it’s every business.”
Jewelry business consolidation and bankruptcies also were up in the U.S. in Q1.
Consolidations (meaning a sale or merger) among retailers, wholesalers and manufacturers totaled 45, up from 34 in the same period last year, and bankruptcies increased from 318 to 343.
JBT data shows a similar pattern in Canada: business closings were up from 15
Editors' Picks
Sponsored by
to 22, mergers rose from one to three, and bankruptcies increased from 16 to 25.
While businesses continue to close, merge or file for bankruptcy, there also was a relatively significant increase in the number of new businesses to start the year.
The number of retailers, wholesalers and manufacturers that opened in the U.S. rose to 62 in Q1, up from 46 last year. Of those, 45 were retailers, compared with 37 in the same period last year.
That is a 35 percent increase, though it should be noted that overall, 62 is still a small number of business openings.
Shifts in the Southeast
Of those 45 new retailers, nearly half—21—set up shop in the Southeast, which the JBT defines as a region of 11 states plus Puerto Rico and the U.S. Virgin Islands.
After the Southeast, the Northeast (eight) and Southwest (seven) had the highest number of store openings.
Interestingly, the Southeast also accounted for the greatest number of U.S. jewelry store closings in Q1. Of the 241 retailers that shut down, 83 of them (about one in three) were located there, followed by:
--41 in the Southwest (California, Nevada, Hawaii, Utah, Arizona);
--39 in the North Central (North Dakota, South Dakota, Minnesota, Nebraska, Iowa, Wisconsin, Illinois, India, Ohio, Michigan);
--35 in the Northeast;
--33 in the South Central (Louisiana, Arkansas, Kansas, Oklahoma, Texas, Colorado, New Mexico, Missouri); and
--10 in the Northwest (Montana, Wyoming, Idaho, Washington, Oregon, Alaska).
When asked about the openings and closings in the Southeast, Weisenfeld said patterns in specific regions are difficult to explain, particularly in such a short period of time as a single quarter.
“As much as we try to figure out why, it’s sometimes inexplicable,” he said.
While businesses continue to close, merge or file for bankruptcy, there also was a relatively significant increase in the number of new businesses to start the year.
The number of retailers, wholesalers and manufacturers that opened in the U.S. rose to 62 in Q1, up from 46 last year. Of those, 45 were retailers, compared with 37 in the same period last year.
That is a 35 percent increase, though it should be noted that overall, 62 is still a small number of business openings.
Shifts in the Southeast
Of those 45 new retailers, nearly half—21—set up shop in the Southeast, which the JBT defines as a region of 11 states plus Puerto Rico and the U.S. Virgin Islands.
After the Southeast, the Northeast (eight) and Southwest (seven) had the highest number of store openings.
Interestingly, the Southeast also accounted for the greatest number of U.S. jewelry store closings in Q1. Of the 241 retailers that shut down, 83 of them (about one in three) were located there, followed by:
--41 in the Southwest (California, Nevada, Hawaii, Utah, Arizona);
--39 in the North Central (North Dakota, South Dakota, Minnesota, Nebraska, Iowa, Wisconsin, Illinois, India, Ohio, Michigan);
--35 in the Northeast;
--33 in the South Central (Louisiana, Arkansas, Kansas, Oklahoma, Texas, Colorado, New Mexico, Missouri); and
--10 in the Northwest (Montana, Wyoming, Idaho, Washington, Oregon, Alaska).
When asked about the openings and closings in the Southeast, Weisenfeld said patterns in specific regions are difficult to explain, particularly in such a short period of time as a single quarter.
“As much as we try to figure out why, it’s sometimes inexplicable,” he said.
More on Surveys
The Latest
Policies & IssuesJul 24, 2026
New Trump Tariffs: What They Mean for Jewelry The new sweeping slate of tariffs impacts 60 countries, including India, China, Thailand, Hong Kong, and the United Arab Emirates.
TrendsJul 24, 2026
Amanda’s Style File: Ode to ‘The Odyssey’From coin pendants to diamond shields, these old world-inspired jewels are the perfect accessory for an epic journey.
Brought to you by
Wedding Band Trends 2026: Personalization Takes Center StageColored gemstones, artisan finishes, mixed metals, and meaningful details are shaping demand in bridal jewelry.
TrendsJul 24, 2026
Courtney Leidy’s Silk Cord Pendants Center Unexpected Pairings Our Piece of the Week pairs a checkerboard-cut amethyst with an ivy green silk cord.
Weekly QuizJul 23, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
PodcastsJul 23, 2026
Episode 7: Reinhold Jewelers on the Power of RelationshipsMildred Marcano Abrams and Yael Reinhold join the podcast to talk community connections, holiday plans, and preserving Reinhold’s legacy.
SourcingJul 23, 2026
De Beers’ Production Jumps 88 Percent in Q2 Production also was up in the first half of 2026 but is expected to “substantially” decrease in H2 as two key mines undergo maintenance.
Brought to you by
Building the Future of Jewelry Retail: DCA Expands Education, Leadership Development, and Workforce SolutionsDCA is preparing the next generation of professionals by supporting workforce development, leadership growth, and career advancement.
CollectionsJul 23, 2026
Silvia Furmanovich’s New Collection Travels Back to the 1920s“Art Deco” fuses ancestral techniques, rare materials, and modern perspectives as a tribute to the optimism and curiosity of the movement.
IndependentsJul 23, 2026
Sissy's Log Cabin Opens Casino StoreThe jeweler’s newest store is inside Arkansas’ Saracen Casino Resort.
WatchesJul 23, 2026
Movado Inks Licensing Deal With Kate Spade New YorkThe watch company will design, manufacture, and distribute Kate Spade New York watches.
Policies & IssuesJul 22, 2026
Trump to Put 50% Tariff on Canadian Goods The higher tax is set to go into effect in August and will apply to loose polished diamonds as well as precious and base metals jewelry.
CollectionsJul 22, 2026
Monica Rich Kosann’s High Jewelry Is FruitfulThe “Enchanted Garden” series features a cherry, lemon, and pear that each hold a little secret inside.
IndependentsJul 22, 2026
Liljenquist Beckstead Opens Rolex New BoutiqueIt’s located in Tysons Galleria, an upscale shopping center in the Washington, D.C., metro area.
Events & AwardsJul 22, 2026
NY Now Returns in August Under New OwnershipThe show, recently acquired by Rockview Management Group, will be held at New York City’s Javits Center from Aug. 2-4.
ColumnistsJul 21, 2026
Sherry Smith: Shattering the Illusion of the ‘Either/Or’ Diamond MarketSmith offers retailers guidance on creating an environment where natural and lab-grown diamonds can both thrive.
Events & AwardsJul 21, 2026
Apollo Funds Completes Emerald AcquisitionFormer Emerald President and CEO Hervé Sedky has transitioned to the role of senior advisor.
CollectionsJul 21, 2026
Graff’s New Butterfly High Jewelry Brooches MetamorphosizeThe 12-piece capsule collection transforms from brooches to pendants.
SourcingJul 21, 2026
Anglo Reportedly Selects Gareth Penny’s Consortium as Top Bidder for De BeersA Botswana government official told lawmakers Anglo has selected The Global Diamond Consortium, an entity chaired by Penny, to buy De Beers.
Policies & IssuesJul 20, 2026
Tariffs on Brazil to Increase But Rough Gemstones ExemptThe new tariff, imposed after a Trump administration study, is 25 percent and will stack on top of existing tariffs.
CollectionsJul 20, 2026
Vhernier Transforms ‘Freccia’ Collection Into High JewelryThe collection from 2014 has been reinterpreted into high jewelry with its signature triangular-shaped elements.
MajorsJul 20, 2026
Krista Collins Walters Promoted to Publisher of InstoreShe will also take on the role of vice president of jewelry for SmartWork Media, a newly created position.
Events & AwardsJul 20, 2026
TJS Accepting Speaker Proposals for 2027 EventOrganizers are looking for presentations on topics like manufacturing, technology and research, bench work, gemstones, and sustainability.
CollectionsJul 17, 2026
HOWL Taps Shailene Woodley for ‘Home Sweet Home’ CampaignWoodley is seen in the campaign wearing our Piece of the Week, the “Frida” collar featuring 13 pieces of hand-carved Venetian glass.
SourcingJul 17, 2026
U.K. Woman Pays £5 for £15K Diamond Ring at Car Boot SaleA WeBuyVintage jewelry expert uncovered how much the flea market find was actually worth.
SourcingJul 17, 2026
Diamond Dealer Jeff Pancis Pens MemoirThe founder of natural colored diamond wholesaler Pancis Gems shares stories from his five decades in the industry.
Events & AwardsJul 17, 2026
Gem Awards Opens 2027 Nomination PeriodSubmissions for the milestone 25th annual Gem Awards will be accepted across three categories from now through July 31.
