Headlines

Major Jewelry Companies Report Sales Declines

Published

8 years ago

August 26, 2016

Political uncertainty is a possible reason for the drop.

Stagnant oil prices, political uncertainty and a strong U.S. dollar are among possible reasons for a decline in jewelry sales, The Wall Street Journal reports, citing sales declines recently reported by Tiffany & Co. and Signet Jewelers Ltd., which owns the Kay Jewelers, Zales and Jared chains. The article says Signet doesn’t attribute the drop to allegations that diamonds have been swapped out for lesser-quality stones at Kay. Meanwhile, Tiffany depends on foreign tourists, who are spending less because of the strong dollar. Quarterly revenue is down 5.9 percent, to $931.6 million, and at Signet it’s down 2.6 percent, to $1.37 billion.

This Third-Generation Jeweler Was Ready for Retirement. He Called Wilkerson

Retirement is never easy, especially when it means the end to a business that was founded in 1884. But for Laura and Sam Sipe, it was time to put their own needs first. They decided to close J.C. Sipe Jewelers, one of Indianapolis’ most trusted names in fine jewelry, and call Wilkerson. “Laura and I decided the conditions were right,” says Sam. Wilkerson handled every detail in their going-out-of-business sale, from marketing to manning the sales floor. “The main goal was to sell our existing inventory that’s all paid for and turn that into cash for our retirement,” says Sam. “It’s been very, very productive.” Would they recommend Wilkerson to other jewelers who want to enjoy their golden years? Absolutely! “Call Wilkerson,” says Laura. “They can help you achieve your goals so you’ll be able to move into retirement comfortably.”