The company plans to raise the prices of select watches to offset the impact of tariffs.
Store Closures, New Businesses Both Continue to Slow
Jewelers Board of Trade statistics show that the number of store closures was down 41 percent in 2017 while the number of new businesses also shrank.
New York--In 2017, 678 retail jewelers ceased operations in the United States, down 41 percent when compared with the 1,156 retailers who did so in 2016, statistics released Thursday by the Jewelers Board of Trade show.
Counting wholesalers and manufacturers, the total number of jewelry businesses that closed in the U.S. last year was 852, compared with 1,518 last year.
Including Canada, 706 retailers, 109 wholesalers and 71 manufacturers closed up shop during the full year 2017, compared with 1,190, 235 and 139, respectively, last year.
It is not surprising that the year finished with fewer store closures, as the number has been down year-over-year every quarter this year, including the fourth.
The JBT’s statistics for Q4 2017, also released on Thursday, show that 161 jewelers closed up shop in the U.S., compared with 289 in the fourth quarter of last year, a 44 percent drop.
There also were 34 retailers that consolidated via a sale or merger and three that declared bankruptcy, bringing the total number of retail “business discontinuances,” as the JBT refers to them, to 198 in the U.S. in the fourth quarter.
Counting wholesalers and manufacturers, the total for businesses ceasing operations, filing for bankruptcy and engaging in a sale or merger in the U.S. during the three-month period was 241, down from 413 last year.
Including Canada, the total number of jewelry business discontinuances was 251, down from 425 in Q4 2016.
But the slowing rate of discontinuances wasn’t the only trend that continued; new business listings also were down.
In the U.S. in the fourth quarter, there were 38 new retailers compared with 48 in the fourth quarter 2016. There also were three new wholesalers and four new manufacturers during the quarter, compared with nine and one, respectively, for Q4 2016.
When looking at the full year, there were 131 new retailers in the U.S. in 2017 compared with 214 in 2016.
Including Canada, there were 42 new retailers in North America in the fourth quarter and 140 in the full year, compared with 48 in Q4 2016 and 218 for the full year.
Total listings for the U.S. jewelry industry ended the year down 4 percent at 26,031, compared with 27,059 the year prior.
Including Canada, the listing total for the year was 27,286, also a 4 percent decline from 2016.
The Latest

Between tariffs and the sky-high cost of gold, designers enter this year’s Las Vegas shows with a lot of questions and few answers.

Designed by founder Renato and his daughter Serena Cipullo, it showcases a flame motif representing unity and the power of gathering.

More shoppers are walking out without buying. Here’s how smart jewelers can bring them back—and the tool they need to do it right.

However, the tariffs remain in effect in the short term, as an appeals court has stayed the U.S. Court of International Trade’s decision.


The pop icon is one step closer to launching her “B Tiny” jewelry collection, a collection she first began posting about last fall.

Sponsored by Stuller

Gain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.

It was featured in the miner’s latest sale, which brought in $24.8 million.

GemText AI uses artificial intelligence to generate tailored product titles, descriptions, and tags with jewelry-specific language.

The 3,300-square foot location is the jeweler's largest store in North America.

Aging and with myriad health issues, none will serve time for their roles in robbing the billionaire celebrity at gunpoint in 2016.

The WNBA team received rings imbued with meaning, from leaf motifs and its Liberty torch to the number of diamonds used.

A longtime executive at RDI Diamonds, Rickard has served on the JBT board for the past five years.

The two organizations have signed an affiliation agreement that’s expected to be finalized in the coming weeks.

The platinum and diamond watch is part of Sotheby’s upcoming Important Watches sale.

Recovered in Mozambique, “The Kat Florence Lumina” was part of Bonhams’ Hong Kong jewelry auction held last week.

Get a taste of the delicious candy-like gemstones in this Amanda’s Style File.

JSA’s Scott Guginsky provided a list of nine security measures jewelers should observe while locking up for the long weekend.

From Lau’s “Love of a Kind” series, the engagement ring was inspired by the moon and holds a different meaning depending on how it is worn.

The lab has adjusted the scale it uses for nacre grading.

Sponsored by GCAL by Sarine

David Walton will serve three years’ probation after an incident in a hotel bar led to the death of West Virginia jeweler David Ettinger.

The retailer also provided an update on how the tariffs situation in the U.S. is affecting its business.

The family-owned jeweler in Great Falls, Virginia, will be celebrating its golden jubilee with a year’s worth of events.

The nonprofit elected five judges who will decide the winners of its design competition.

This year’s edition includes articles on the favorite tools of notable designers, evaluating when to outsource production, and more.