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100 US Jewelry Retailers Closed in the First Quarter

The rate of closings slowed considerably.

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The Jewelers Board of Trade reported that 100 U.S. jewelry retailers closed their doors in the first quarter of 2019.

That number represented a decrease from 282 closings in the first quarter of 2018.

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The total included 73 retailers in the category of “ceased operations” as well as 22 “consolidations (sale/merger)” and five bankruptcies.

The total number of U.S. jewelry businesses that closed, including retailers, wholesalers and manufacturers, was 125. That was a decrease from 343 in the first quarter of 2018.

Meanwhile, JBT reported that 48 new retailers opened their doors in the U.S., up from 45 in the first quarter of 2018.

The total number of new jewelry businesses, including retailers, wholesalers and manufacturers, was 57. That was down from 62 new businesses in the year-ago quarter.

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JBT listed a total of 18,920 jewelry retailers in the U.S. as of the first quarter of 2019, down from 19,554 in the same quarter a year ago.

The group listed 25,037 jewelry businesses in all, including retailers, wholesalers and manufacturers. That was down from 25,898 in the first quarter of 2018.

Over the years, INSTORE has won 80 international journalism awards for its publication and website. Contact INSTORE's editors at [email protected].

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If It’s Time to Consolidate, It’s Time to Call Wilkerson

When Tom Moses decided to close one of the two Moses Jewelers stores in western Pennsylvania, it was time to call in the experts. After reviewing two candidates, Moses, a co-owner of the 72 year-old business, decided to go with Wilkerson. The sale went better than expected. Concerned about running it during the pandemic, Moses says it might have helped the sale. “People wanted to get out, so there was pent-up demand,” he says. “Folks were not traveling so there was disposable income, and we don’t recall a single client commenting to us, feeling uncomfortable. It was busy in here!” And perhaps most importantly, Wilkerson was easy to deal with, he says, and Susan, their personal Wilkerson consultant, was knowledgeable, organized and “really good.” Now, the company can focus on their remaining location — without the hassle of carrying over merchandise that either wouldn’t fit or hadn’t sold. “The decision to hire Wilkerson was a good one,” says Moses.

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