GradingAug 22, 2025
Former Head of GIA India Promoted to Oversee Global Operations Sriram “Ram” Natarajan is now GIA’s senior vice president of laboratory operations and is based out of the lab’s headquarters in Carlsbad.
SurveysAug 18, 2020
July Retail Sales Up, Growth Slows
Economists are wary of how retail will fare in August as the $600 unemployment boost expires and coronavirus cases rise.
U.S. retail sales were up 1.2 percent month-over-month in July.
New York—U.S. retail sales were on the rise in July as consumer spending rebounds, but growth was slower than previous months.
Retail sales were up 1.2 percent month-over-month in July to $536 billion, according to data from the U.S. Department of Commerce, climbing 2.7 percent year-over-year.
The monthly increase was slightly lower than the 2 percent jump economists had expected.
In June, sales were up 8.4 percent month-over-month, as per revised numbers, following an 18 percent jump in May.
In a press release about the results, National Retail Federation CEO Matthew Shay said the results were “another positive step in the right direction as our economy continues to slowly reopen.”
The NRF also calculates monthly retail sales, narrowing in on core retail and excluding auto sales, gas stations, and restaurants.
Its calculations show July sales were up 1 percent seasonally adjusted from June and up 10 percent unadjusted year-over-year.
Looking at the commerce department’s data by category, electronics and appliance stores saw the strongest sales gains in July, up 22.9 percent month-over-month, though sales were down 2.8 percent year-over-year.
The rise in working and learning from home sent computer sales higher while home improvement projects and higher home sales bolstered appliance sales.
Shay credited the overall increase to the “continued resilience” of shoppers and the demonstration by retailers that stores can be operated safely when following guidelines.
Shay also gave credit to the governmental actions taken to support the economy and encouraged elected officials to “enact policies that support consumers and keep the economy open.”
NRF Chief Economist Jack Kleinhenz highlighted the threat uncertainty poses to economic recovery.
“Retail sales are starting the third quarter on a solid footing considering the nosedive we saw this spring, but we have to remember that there’s uncertainty about economic policy and that the resurgence of the virus is putting pressure on the fledgling recovery,” he said.
Shoppers are spending money, but they are still anxious about their wealth and financial wellbeing, he added.
Looking to the second half of the year, forecasting can be difficult as what the economy does depends on “what the coronavirus allows us to do.”
Economists are wary of what August holds following the expiration of the $600 federal unemployment benefit. A surge in coronavirus cases has also led to layoffs and a delay in returning to work.
“Even with the unemployment rate above 10 percent, one-time stimulus payments for many households
and expanded unemployment insurance benefits have allowed consumers to boost their purchases, with sales higher than they were before the pandemic,” said Gus Faucher, chief economist of PNC Financial Services, in a press release about July retail sales.
The drying up of these payments would reduce household income by $70 billion in August, he said.
Faucher noted President Trump looked to restore some of the payments via an executive order, but it is unclear when the payments would be sent out and how many people they would reach.
“Passage of a new economic stimulus program will be vital to ensuring a strong economic recovery in the U.S.,” he added.
Discussions about a fifth coronavirus relief package have been ongoing, but an agreement between Democrats and Republicans has not yet been reached.
Congress is in recess, as it normally is in August, but could be recalled if a deal is reached.
More on Surveys
The Latest
CollectionsAug 22, 2025
Piece of the Week: Retrouvaí’s ‘Diamond Vein Bond’ CollarThe one-of-a-kind collar represents the beauty of imperfection and the strength to rebuild.
MajorsAug 22, 2025
Kendra Scott Returns as CEO of Her Jewelry EmpireThree C-suite executives, including former CEO Tom Nolan, have resigned as part of what the company describes as a “transition.”
Brought to you by
Rallying Call for the Jewelry Industry on Tariffs and Other Key IssuesJewelers of America is leading the charge to protect the industry amidst rising economic threats.
MajorsAug 21, 2025
Claire’s Finds Buyer, Could Save up to 950 StoresThe retailer, which recently filed Chapter 11, inked a deal to sell its North American business and intellectual property.
Weekly QuizAug 22, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
MajorsAug 21, 2025
Target Names New CEO as Sales Continue to Lag Target CEO Brian Cornell will step down in February and be replaced by the company’s chief operating officer, Michael Fiddelke.
Policies & IssuesAug 21, 2025
JA, IDMA Talk Tariffs With Execs in DC The group met with the president's senior trade advisor earlier this week to express the industry’s concerns about the effects of tariffs.
Brought to you by
Taking the Moment Head On: How Rio Grande Champions the Present & Future of Fine JewelryAs a leading global jewelry supplier, Rio Grande is rapidly expanding and developing new solutions to meet the needs of jewelers worldwide.
MajorsAug 21, 2025
Tiffany & Co. Pops Up at 2025 US OpenThe pop-up will display this year's Tiffany & Co. Singles Championship trophies along with a diamond-encrusted tennis racket and ball.
IndependentsAug 20, 2025
Bellman’s Jewelers Opens Second Store After COO's TikTok Takes OffThe New Hampshire-based store has expanded to Boston, propelled by the success of Alex Bellman’s TikTok page, “The Truthful Jeweler.”
CrimeAug 20, 2025
Another CA Jewelry Store Rammed With Car, RobbedThe latest incident happened Monday at a store in Oakland, California, continuing a pattern JSA first warned about last month.
WatchesAug 20, 2025
Oris Launches Watch Benefiting NYC Harbor Oyster RestorationThe new aqua green New York Harbor Limited Edition II is the watchmaker’s second collaboration with the Billion Oyster Project.
Events & AwardsAug 20, 2025
Take the Jewelers for Children ‘Trinity of Purpose’ ChallengeParticipants who attend any three Rings of Strength events will be awarded a special medal.
SourcingAug 19, 2025
Dubai’s Jemora Group Buys Diamond Miner LucapaThe investment company, founded by Dev Shetty, has acquired the struggling miner and its assets, including the Lulo mine in Angola.
ColumnistsAug 19, 2025
Peter Smith: The Arrival Fallacy and Jewelry RetailSmith shares wisdom he gleaned from a podcast he was listening to one morning while being walked by his dog, a Malshi named Sophie.
CrimeAug 19, 2025
Customs Seizes 7,300 Pairs of Fake ‘Alhambra’ EarringsThe counterfeit Van Cleef & Arpels jewels would have been worth more than $30 million if genuine.
MajorsAug 19, 2025
MJSA Apprenticeship Program Is Nationally RecognizedThe MJSA Mentor & Apprenticeship Program received the Registered Apprenticeship Program designation by the U.S. Department of Labor.
WatchesAug 19, 2025
Casio America Names New Timepiece Division ManagerCasio executive and watch enthusiast Masaki Obu is the new general manager of its U.S. timepiece division.
MajorsAug 18, 2025
Verragio’s Michael Barabash, a ‘Kind Soul,’ Dies at 58Barabash, Verragio’s client relations representative, was a vital member of the team and is remembered as being warm and full of life.
CollectionsAug 18, 2025
John Hardy’s New ‘Dot’ Collection Is on PointOriginally introduced in 1992, the “Dot” collection is back with a capsule featuring five archival designs and three new creations.
Events & AwardsAug 18, 2025
IJO Announces 2025 Vendor of the YearAllison-Kaufman has received the honor for the fourth year in a row.
FinancialsAug 15, 2025
In Q2 Results, Pandora Talks Tariffs, Q4 Plans The company had a solid second quarter, with sales of non-charm jewelry outpacing sales of pieces in its core collections.
EditorsAug 15, 2025
Piece of the Week: Etho Maria’s Showgirl-Approved Ruby Drop Earrings Taylor Swift dons the vibrant pair in new promotional imagery for her upcoming album, “The Life of a Showgirl,” set to release in October.
WatchesAug 15, 2025
Audemars Piguet Acquires Majority Stake in ManufacturerIts investment in micromechanics expert Inhotec will preserve skills essential to the watchmaking industry as a whole, said the company.
MajorsAug 15, 2025
Rio Grande Names New Marketing DirectorNicolette Bianchi joins the wholesale provider with more than 15 years of cross-industry experience in marketing and product development.
CollectionsAug 14, 2025
In Midst of ‘Sardine Girl Summer,’ Pippa Small Looks to ‘Flounder Fall’Her new “Ocean” collection was inspired by Myanmar’s traditional articulated fish jewelry, with depictions of flounder, catfish, and more.
MajorsAug 14, 2025
Casio America Names New CEOLongtime Casio executive Yusuke Suzuki is the new president and CEO of Casio’s U.S. subsidiary.
