CrimeFeb 13, 2026
JSA Offering $10K Reward in Nancy Guthrie Case Guthrie, the mother of “Today” show host Savannah Guthrie, was abducted just as the Tucson gem shows were starting.
SurveysMay 05, 2015
Retailers, wholesalers continue to close up shop
The industry shrinkage recorded in 2014 has continued into the first quarter of this year, the latest statistics from the Jewelers Board of Trade show.
Warwick, R.I.--The industry shrinkage recorded in 2014 has continued into the first quarter of this year, the latest statistics from the Jewelers Board of Trade show.
In the United States and Canada, a total of 250 retail jewelers/repairers, wholesalers and manufacturers ceased operations in the first three months of the year, up 40 percent from 179 in the first quarter of 2014.
Bankruptcies increased slightly, from 11 to 13, while consolidations were down considerably, from 54 in the first quarter 2014 to 28 in the first quarter 2015, a 48 percent drop.
In the U.S. alone, the number of retail jewelers, wholesalers and manufacturers that ceased operations was up 39 percent.
The most significant decline was in the number of wholesalers, with 35 ceasing operations, double the number that did so in the first quarter 2014. In addition, there were 191 retail jewelers that shut down in the first quarter, up 38 percent from 138 in the first quarter last year.
The JBT’s first quarter statistics continue a trend that began in 2014 and one that JBT President Dione Kenyon said they are seeing continue into the second quarter.
The trend is this: The jewelry industry in the U.S. and Canada is shrinking in size, with many discouraged by a still-sluggish economy, the difficulty of doing business today and with many family-owned institutions lacking a new generation waiting in the wings to take over the business.
Overall, the JBT’s total listings for the first quarter totaled 29,678, down nearly 3 percent from the same time last year.
Well-known names that announced their exit from the industry in the first quarter include Fragments, the showroom and retail store Janet Goldman opened in New York City’s SoHo neighborhood 30 years ago, and Samuel Gordon Jewelers in Oklahoma City, a 111-year-old business.
Goldman told National Jeweler that the rents in SoHo became untenable for her business, while 67-year-old Gary Gordon wanted to retire. His son, Dan, is in the jewelry business too but works at The Diamond Cellar in Columbus, Ohio.
More recent store closures include Towne Jewelers in Winston-Salem, N.C., which Ken Pope owns with this wife Marsha.
Towne has been in business since 1955; Ken Pope acquired the business from his uncle, Richard Pope, 15 years ago.
Today, the 53-year-old says, he’s just tired. “I’ve been at it for 15 years and it gets more and more difficult each year.”
Editors' Picks
Sponsored by
There is also difficulty of finding qualified help, the competitive pressures brought on by an economy that, at least in the Winston-Salem area, has been “stagnant” since 2008, and the added duties the Internet has created, including the need to have and manage multiple social media accounts. “The jewelry store owner has to wear so many hats (today),” Pope says.
He added that he looked into selling the business but determined the best return on his investment in his inventory was to liquidate it.
Towne Jewelers is in the midst of conducting a going-out-of-business sale and will shut its doors when the inventory is gone. The exact date that will mark the store’s last in business hasn’t been determined yet.
As for Pope, he’s says he’s going to take a few months to regroup and then determine what the next chapter of his life holds. He doesn’t know at this point if it will include fine jewelry or not.
“We’ll miss portions of it,” he says, when asked if he’ll miss the industry. “We’ll miss the customers. We won’t miss the tremendous responsibility that goes along with running a business.”
More on Surveys
The Latest
IndependentsFeb 13, 2026
97-Year-Old New Mexico Jewelry Store To CloseButterfield Jewelers in Albuquerque, New Mexico, is preparing to close as members of the Butterfield family head into retirement.
CollectionsFeb 13, 2026
A ‘Rosebud’ Necklace for Valentine’s DayPaul Morelli’s “Rosebud” necklace, our Piece of the Week, uses 18-karat rose, green, and white gold to turn the symbol of love into jewelry.
Brought to you by
The MJSA Mentor & Apprenticeship Program: Attracting & Training the Next Generation of Bench JewelersLaunched in 2023, the program will help the passing of knowledge between generations and alleviate the shortage of bench jewelers.
MajorsFeb 13, 2026
JFC Announces New BeneficiariesThe nonprofit has welcomed four new grantees for 2026.
Weekly QuizFeb 12, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
MajorsFeb 12, 2026
These 8 Saks Fifth Avenue Stores Are ClosingParent company Saks Global is also closing nearly all Saks Off 5th locations, a Neiman Marcus store, and 14 personal styling suites.
CollectionsFeb 12, 2026
British Museum Raises $5M to Keep Jewel Linked to Henry VIII, Katherine of AragonIt is believed the 24-karat heart-shaped enameled pendant was made for an event marking the betrothal of Princess Mary in 1518.
Brought to you by
How Jewelers Can Fight Back Against Cell JammersCriminals are using cell jammers to disable alarms, but new technology like JamAlert™ can stop them.
SourcingFeb 12, 2026
‘Cotton Candy’ Necklace, 35-Carat Kunzite Win 2025 ‘Buyer’s Choice’ AwardsThe AGTA Spectrum and Cutting Edge “Buyer’s Choice” award winners were announced at the Spectrum Awards Gala last week.
Events & AwardsFeb 12, 2026
Kering Opens Entries for 2026 Sustainability-Focused AwardThe “Kering Generation Award x Jewelry” returns for its second year with “Second Chance, First Choice” as its theme.
TrendsFeb 11, 2026
Halle Berry’s Retro Engagement Ring Is a Sapphire-Set StunnerSourced by For Future Reference Vintage, the yellow gold ring has a round center stone surrounded by step-cut sapphires.
MajorsFeb 11, 2026
Francesca’s Files for Chapter 11 Bankruptcy AgainThe clothing and accessories chain announced last month it would be closing all of its stores.
CollectionsFeb 11, 2026
Zales Turns Sweethearts Into Jewelry for Valentine’s Day CollectionThe “Zales x Sweethearts” collection features three mystery heart charms engraved with classic sayings seen on the Valentine’s Day candies.
TechnologyFeb 11, 2026
Gemvision Symposium 2026 Slated for AprilThe event will include panel discussions, hands-on demonstrations of new digital manufacturing tools, and a jewelry design contest.
Events & AwardsFeb 11, 2026
TJS Announces Roundtable, Launches New AppRegistration is now open for The Jewelry Symposium, set to take place in Detroit from May 16-19.
SourcingFeb 10, 2026
At Meeting in South Africa, Support for Natural Diamonds Picks Up Steam Namibia has formally signed the Luanda Accord, while two key industry organizations pledged to join the Natural Diamond Council.
TrendsFeb 10, 2026
Bad Bunny Wears Football-Shaped ‘Desert Diamond’ for Halftime PerformanceLady Gaga, Cardi B, and Karol G also went with diamond jewelry for Bad Bunny’s Super Bowl halftime show honoring Puerto Rico.
FinancialsFeb 10, 2026
Kering Plans Transformation as 2025 Sales Sink 13%As star brand Gucci continues to struggle, the luxury titan plans to announce a new roadmap to return to growth.
SourcingFeb 10, 2026
AGTA To Debut ‘Stuller Color of the Year’ Spectrum Awards CategoryThe new category asks entrants for “exceptional” interpretations of the supplier’s 2026 color of the year, which is “Signature Red.”
Policies & IssuesFeb 09, 2026
U.S., India Trade Deal One Step Closer to Being FinalizedThe White House issued an official statement on the deal, which will eliminate tariffs on loose natural diamonds and gemstones from India.
Events & AwardsFeb 09, 2026
JA Now Accepting Entries for 2026 CASE AwardsEntries for the jewelry design competition will be accepted through March 20.
IndependentsFeb 09, 2026
James Free Jewelers Unveils Revamped FlagshipThe Ohio jeweler’s new layout features a curated collection of brand boutiques to promote storytelling and host in-store events.
TrendsFeb 09, 2026
These 14 Jewels Will Melt Your Heart This Valentine’s DayFrom heart motifs to pink pearls, Valentine’s Day is filled with jewelry imbued with love.
CrimeFeb 06, 2026
Florida Man Sentenced After Selling Fake Native American Jewelry for a Decade Prosecutors say the man attended arts and craft fairs claiming he was a third-generation jeweler who was a member of the Pueblo tribe.
FinancialsFeb 06, 2026
Pandora’s North America GM Departs Amid Executive ChangesNew CEO Berta de Pablos-Barbier shared her priorities for the Danish jewelry company this year as part of its fourth-quarter results.
TrendsFeb 06, 2026
Margot Robbie, Jacob Elordi Wear Matching Cece Jewellery Signet RingsOur Piece of the Week picks are these bespoke rings the “Wuthering Heights” stars have been spotted wearing during the film’s press tour.
MajorsFeb 05, 2026
Pandora to Begin Selling Platinum-Plated JewelryThe introduction of platinum plating will reduce its reliance on silver amid volatile price swings, said Pandora.
