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.
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.
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.