SourcingJul 06, 2026
Gemfields CEO Sean Gilbertson Steps DownAfter eight years, Gilbertson is leaving his post at the mining company, which is currently facing a slew of operational challenges.
EditorsJan 11, 2012
Making sense of the holiday sales
As any retailer would tell you, it is difficult anymore to predict the ebbs and flows of the economy. This was as evident as ever on Tuesday, when three of the industry’s largest chains reported sales for the all-important months...
As any retailer would tell you, it is difficult anymore to predict the ebbs and flows of the economy. This was as evident as ever on Tuesday, when three of the industry’s largest chains reported sales for the all-important months of November and December.
News from Tiffany & Co. that “sales weakened markedly in the United States and Europe” over the holiday season surprised me. Tiffany has been one of the strongest performers in the market in recent years, seemingly one of the first jewelry chains to begin showing signs of economic recovery after the global meltdown.
Overall, same-store sales in the U.S. were up 2 percent for the chain. Sales declined 1 percent in the brand’s flagship store on Fifth Avenue in New York, with foreign tourists accounting for the bulk of the sales there. Same-store sales were up 3 percent in Tiffany’s branch stores.
Also interesting to note were the results from Zale Corp., where holiday comps were up 6 percent but there was a marked difference between the months of November and December. The chain’s comps climbed 10 percent in November but only 4 percent the next month.
While both Tiffany and Zale comped positive, their overall results have sparked concern among analysts that consumer spending is on the decline heading into the new year.
During a conference call Tuesday morning, analysts asked executives Sterling Jewelers about the results reported by Tiffany and Zale. They wanted to know if Sterling was concerned about Valentine’s Day given what seems to be a pattern of waning consumer spending. (Sterling executives said no.)
Zale’s December comps were less than half of what they were in November.
And Tiffany noted that sales weakened at the end of the year after three “very strong” quarters of better-than-expected sales and earnings growth. In this article, Forbes contrasted the results of Tiffany with that of high-end athletic apparel retailer Lululemon, which had a strong holiday season and raised its guidance. Forbes wonders if consumers are “reigning in their spending on jewelry.”
In reading all of this news over the past couple of days, it brought to mind something I reported early on in the holiday shopping season, during one of our many Black Friday wrap-up stories. In this story, one analyst noted that while consumers flooded stores right after Thanksgiving to take advantage of deals, they were less enthusiastic about
shopping thereafter. They were “tapped out,” the analyst said.
If consumers were “tapped out” in late November, how are they feeling now, as they sit amidst piles of bills that they accumulated buying holiday presents, throwing parties and traveling?
I think the answer is: Nobody really knows anymore.
More on Editors
The Latest
IndependentsJul 06, 2026
Bachendorf’s To Open Fifth Store In DallasThe new location is set to open this winter, featuring the retailer’s first rotating jewelry designer residency.
MajorsJul 06, 2026
Graff Names BTS Star Jung Kook as New AmbassadorThe pop artist appears in the latest campaign for the “Laurence Graff Signature” collection.
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.
CollectionsJul 06, 2026
Pandora’s New Baroque Pearl Collection Is a Whimsical ‘Wonder’One-of-a-kind pearls take the shape of ice cream cones, frogs, submarines, and other imaginative charms.
Weekly QuizJul 01, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
SourcingJul 02, 2026
London Diamond Bourse Elects First Female PresidentCharlotte Rose said her election is “a sign that this is an industry capable of change.”
Supplier BulletinJul 02, 2026
Elevating Retail Showcases with Today's Necklace & Bracelet TrendsSponsored by Rio Grande Jewelry Supply
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.
TrendsJul 02, 2026
Oscar Heyman’s Flag Brooch Celebrates AmericaThe American jewelry house, founded by Latvian immigrants, has been creating American flag brooches since 1917.
IndependentsJul 02, 2026
D. Geller & Son Partners with KSU Art Students on Store MuralThe artwork celebrates the Atlanta jeweler’s legacy and symbolizes its commitment to supporting local artists and its community.
Events & AwardsJul 02, 2026
Stratus Estate Buyers Offers Jewelers Turnkey Buying EventsIts team can evaluate jewelry and watches, as well as luxury handbags, artwork, and collectibles.
SurveysJul 01, 2026
Consumer Confidence Ticks Up in JuneFalling oil prices were a factor in the slight month-over-month improvement.
CollectionsJul 01, 2026
Rio Grande Launches First Finished Bridal CollectionThe new offering comprises more than 120 bridal and engagement ring styles with natural and lab-grown diamonds.
WatchesJul 01, 2026
Rolex Unveils Clock at Rockefeller CenterThe clock is part of the celebration for the soon-to-open Rolex headquarters on New York City’s Fifth Avenue.
IndependentsJul 01, 2026
Kristen Cannon of Valobra Master Jewelers Dies at 49The public relations professional is remembered for her benevolent generosity and unwavering commitment to those around her.
WatchesJun 30, 2026
Pokémon Fans Will Want to Catch This New G-Shock WatchThe new watch commemorates Pokémon’s 30th anniversary.
MajorsJun 30, 2026
Saks Global Emerges From Bankruptcy With New NameThe luxury retailer is now called Exemplar Luxury Group.
CollectionsJun 30, 2026
Jade Ruzzo’s New Collection Embodies the Art of Being a LadyThe “Lady” collection is a new take on old beauty standards with gemstone-adorned hair pins and combs, a compact mirror necklace, and more.
SourcingJun 30, 2026
Blue Nile Introduces Montana Sapphire CollectionThe new line is included in the e-tailer’s curation of jewelry celebrating America’s 250th anniversary.
GradingJun 30, 2026
AGS Opens 2026 Recertification ExamAll active members who earned their credential or designation before Dec. 1, 2025, are required to recertify.
CollectionsJun 29, 2026
Briony Raymond’s New Collection Is a ‘Carousel’ of Hard StonesThe new jewelry collection uses a colorful palette of onyx, malachite, tiger’s eye, mother-of-pearl, lapis, turquoise, and coral.
IndependentsJun 29, 2026
Look Inside Lee Michaels’ Revamped Mississippi FlagshipLee Michaels Fine Jewelry is celebrating 30 years in the Ridgeland, Mississippi community.
GradingJun 29, 2026
National Rarities Announces New Gemology ManagerSean Milliner has joined the company.
GradingJun 29, 2026
GIA to Open New London CampusClasses will begin in August at GIA’s new Canary Wharf location.
AuctionsJun 26, 2026
‘Hogback’ Diamond Ring Finds a New Home A ring set with “hogback” diamonds, an early stone cut dating to around the 16th century, sold for more than $20,000 at a U.K. auction.
CollectionsJun 26, 2026
Strength Is Sharpened Into Beauty in Kris Averi’s ‘Prism Thorn’ RingThe rainbow version of the ring, our Piece of the Week, features angel-cut, octahedral lab-grown sapphires designed to be worn as armor.
MajorsJun 26, 2026
Rembrandt Charms Debuts ‘Charms That Give Back’The new initiative donates a portion of the proceeds from select charms to charitable causes.
