CollectionsNov 19, 2025
Larkspur & Hawk Celebrates 25 Years With Helena Bonham Carter CampaignThe British actress and her daughter modeled pieces from the brand’s new “Palette” capsule for its “Once Upon a Time” holiday campaign.
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
TechnologyNov 19, 2025
Google Has a New Form for Reporting ‘Review Bombing’ Attacks Plus, the tech giant shares the steps retailers should take if they believe they’re a victim of a review extortion scam.
IndependentsNov 19, 2025
Houston Jeweler Keith Shaftel Retires, Next Generation Steps In Danny and Gaby Shaftel are now Shaftel Diamonds’ CEO and chief operating officer, respectively.
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.
TrendsNov 19, 2025
Midas Chain Releases 2025 Holiday Style GuideThe jewelry manufacturer’s seasonal offering features its new “Melodie” bangles, as well as mini stud earrings and layering pieces.
Weekly QuizNov 13, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Events & AwardsNov 18, 2025
NYC Jewelry Week 2025: 12 Must-See EventsWith more than 140 activations taking place in New York City now through Nov. 23, these 12 events are can’t-miss moments.
MajorsNov 18, 2025
Lugano Diamonds Files for Bankruptcy, Looking for BuyerThe Chapter 11 filing follows the resignation of CEO Moti Ferder, who stepped down after an investigation into the company’s finances.
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.
Events & AwardsNov 18, 2025
A Giant, Bejeweled Moldy Berry Is on Display in LAThe artwork is part of an exhibition featuring works by Kathleen Ryan, an artist known for her gemstone-studded rotting fruit sculptures.
SourcingNov 18, 2025
Another Diamond Company CEO Steps DownMark Wall, president and CEO of Canadian mining company Mountain Province Diamonds, will vacate his position next month.
CrimeNov 17, 2025
Police Searching for 2 Suspects in Murder of Father, Son Jewelers Faustino Alamo Dominguez and his son, 25-year-old Luis Angel Alamo, were gunned down following an armed robbery at their jewelry store.
GradingNov 17, 2025
IGI Announces New President of North AmericaTiffany & Co. veteran Jeffrey Bennett has stepped into the role.
MajorsNov 17, 2025
Look Inside Robbins Brothers Fine Jewelers’ New Pasadena FlagshipThe showroom is located in a historic 1920s building in the Playhouse District.
Policies & IssuesNov 14, 2025
U.S., Switzerland Reach Deal That Drops Tariff to 15%The Swiss government announced the deal, which cuts the tax on Swiss imports by more than half, on social media Friday morning.
AuctionsNov 14, 2025
Napoleon’s Diamond Brooch Blows Away Auction Estimates A buyer paid $4.4 million for the piece, which Napoleon wore on his hat for special occasions and left behind when he fled Waterloo.
FinancialsNov 14, 2025
Richemont’s Q2 Jewelry Sales Up 12%Plus, how tariffs and the rising price of gold are affecting its watch and jewelry brands.
CollectionsNov 14, 2025
Piece of the Week: Silvia Furmanovich’s ‘Butterflies in Flight’ Jewelry BoxFurmanovich designed the box to hold Mellerio’s “Color Queen,” a high jewelry collection consisting of 10 rings.
Events & AwardsNov 14, 2025
JCK Names New Event DirectorJennifer Hopf, who has been with JCK since 2022, will lead the execution of the long-running jewelry trade show.
IndependentsNov 13, 2025
127-Year-Old New Orleans Jeweler to CloseAdler’s Jewelry is set to close its two stores as 82-year-old owner Coleman E. Adler II retires.
IndependentsNov 13, 2025
Green Lake Jewelry Works to Move to New Seattle StudioFounder Jim Tuttle shared how a dedication to craftsmanship and meaningful custom jewelry fueled the retailer’s double-digit growth.
MajorsNov 13, 2025
Vahan Jewelry Founder Leon ‘Sacha’ Der Calousdian Dies at 85The third-generation jeweler is remembered as a passionate creative with a love of art, traveling and sailboat racing.
CrimeNov 12, 2025
Father, Son Jewelers in Chicago Victims in Double Homicide JSA and Cook County Crime Stoppers are both offering rewards for information leading to the arrest of the suspect or suspects involved.
AuctionsNov 12, 2025
‘Mellon Blue’ Diamond Sells for $7M Less Than It Did a Decade AgoA buyer paid $25.6 million for the diamond at Christie’s on Tuesday. In 2014, Sotheby’s sold the same stone for $32.6 million.
AuctionsNov 12, 2025
Historic Rolex Oyster Fetches $1.7M at Sotheby’sMercedes Gleitze famously wore the watch in her 1927 swim across the English Channel, a pivotal credibility moment for the watchmaker.
GradingNov 12, 2025
It’s Time: GIA’s Express Holiday Service Is Back GIA is offering next-day services for natural, colorless diamonds submitted to its labs in New York and Carlsbad.
MajorsNov 10, 2025
Jewelers Focus on Love, Joy In 2025 Holiday Campaigns Tiffany & Co., David Yurman, and Pandora have launched holiday campaigns depicting their jewelry as symbols of affection and happiness.
AuctionsNov 10, 2025
300+ Colored Diamonds Up for Auction at Christie’sLate collector Eddy Elzas assembled “The Rainbow Collection,” which is offered as a single lot and estimated to fetch up to $3 million.
