MajorsDec 19, 2025
MadaLuxe Group Acquires Ippolita The luxury goods company said founder Ippolita Rostagno will remain at the brand’s helm.
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
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
MajorsDec 19, 2025
LVMH Names New Bulgari CEOLaura Burdese, who joined the Italian luxury brand in 2022, will take on the role in July.
EditorsDec 19, 2025
2025 Jewelry Superlatives: A Yearbook-Style Year in Review The National Jeweler editors revisit the most noteworthy industry happenings and design trends from 2025.
Brought to you by
Impacting Tomorrow TodayHow Jewelers of America’s 20 Under 40 are leading to ensure a brighter future for the jewelry industry.
AuctionsDec 19, 2025
Jean Schlumberger’s ‘African Cat’ Is Purr-Fection Need a gift for the cat lover who has everything? Look no further than our latest Piece of the Week.
Weekly QuizDec 18, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
AuctionsDec 18, 2025
Audemars Piguet Reclaims Historic Pocket Watch at AuctionIt purchased the “Grosse Pièce,” an ultra-complicated Audemars Piguet pocket watch from the ‘20s, for a record-breaking price at Sotheby’s.
Lab-GrownDec 18, 2025
Kira Jewels Debuts Custom Lab-Grown Diamond Jewelry ServiceThe lab-grown diamond grower now offers custom engagement and fashion jewelry through its Kira Custom Lab Jewelry service.
Brought to you by
Roseco Releases New Full-Line CatalogRoseco’s 704-page catalog showcases new lab-grown diamonds, findings, tools & more—available in print or interactive digital editions.
EditorsDec 18, 2025
Terry Chandler Looks Back on 40 Years of Opportunity, Change, and FriendsChandler got his start at Michelson Jewelers and has served as DCA president and CEO since 2001. He will retire at the end of the month.
WatchesDec 18, 2025
Bob’s Watches to Open Store in New York’s JFK AirportThe boutique is slated to open this week inside Terminal 8, offering pre-owned Rolex watches and more to international travelers.
Supplier BulletinDec 18, 2025
Cell Jammers Are Targeting Your Business. Here's How to Beat ThemSponsored by Digital Monitoring Products
CrimeDec 17, 2025
Man Pleads Not Guilty to Swallowing Fabergé PendantThe special-edition egg pendant ingested in a New Zealand jewelry store was recovered after a six-day wait.
EditorsDec 17, 2025
2025 Jewelry Rewind: The Best Piece of the Week PicksAssociate Editor Natalie Francisco plays favorites with Piece of the Week, selecting a standout piece of jewelry from each month of 2025.
CollectionsDec 17, 2025
Lucy Hale Stars in Jacquie Aiche’s Holiday CampaignThe “Love and Desire” campaign is inspired by the magic that follows when one’s heart leads the way, said the brand.
GradingDec 17, 2025
SSEF Announces 2025 Scholarship WinnersTwo awardees will receive free tuition for an educational course at the Swiss lab, with flights and lodging included.
MajorsDec 16, 2025
Pandora’s New CEO Will Step Up EarlyBerta de Pablos-Barbier will replace Alexander Lacik at the start of January, two months earlier than expected.
AuctionsDec 16, 2025
Suzanne Belperron, JAR Shine in Sotheby’s First Auctions at New HQSotheby’s held its first two jewelry sales at the Breuer building last week, and they totaled nearly $44 million.
Events & AwardsDec 16, 2025
TJS Now Accepting Scholarship Applications for 2026Winners will receive free registration and lodging for its fourth annual event in Detroit.
ColumnistsDec 16, 2025
Beyond Unboxing: Creative Reveals to Drive Reach and EngagementHere are six ideas for making more engaging content for Instagram Reels and TikTok, courtesy of Duvall O’Steen and Jen Cullen Williams.
Events & AwardsDec 16, 2025
Diamonds Do Good Names 2026 Award RecipientsThe honorees include a notable jewelry brand, an industry veteran, and an independent retailer.
CrimeDec 15, 2025
Men Receive Life Sentences in Home Invasion Murder of Jeweler Carlos Jose Hernandez and Joshua Zuazo were sentenced to life without the possibility of parole in the 2024 murder of Hussein “Sam” Murray.
Policies & IssuesDec 15, 2025
Sara Yood Named Co-Chair of RJC Standards CommitteeYood will serve alongside Eduard Stefanescu, the sustainability manager for C.Hafner, a precious metals refiner in Germany.
IndependentsDec 15, 2025
M.S. Rau to Open Store in AspenThe New Orleans jeweler is also hosting pop-up jewelry boutiques in New York City and Dallas.
AuctionsDec 12, 2025
13.54-Carat Paraíba Tourmaline Sets Records at Christie’sSet in a Tiffany & Co. necklace, it sold for $4.2 million, the highest price and price per carat paid for a Paraíba tourmaline at auction.
MajorsDec 12, 2025
David Webb Reveals Ice-Cold Holiday Window DisplayThe jeweler’s “Deep Freeze” display showcases its iconic jewelry designs frozen in a vintage icebox.
CollectionsDec 12, 2025
Piece of the Week: Oscar Heyman’s Sphene RingTake luxury gifting to new heights this holiday season with the jeweler’s showstopping 12-carat sphene ring.
Events & AwardsDec 12, 2025
IGI Jewelry Design Contest Now Accepting SubmissionsThis year's theme is “Unveiling the Depths of the Ocean.”
