Headlines

135 US Jewelry Retailers Closed in the Second Quarter

The pace of closures has slowed recently.

Published

4 years ago

July 21, 2019

INSTORE Staff

The Jewelers Board of Trade reported that 135 U.S. jewelry retailers closed their doors in the second quarter of 2019.

That number represented a decrease from 195 closings in the second quarter of 2018.

The total included 105 retailers in the category of “ceased operations” as well as 24 “consolidations (sale/merger)” and six bankruptcies.

The total number of U.S. jewelry businesses that closed, including retailers, wholesalers and manufacturers, was 185. That was a decrease from 234 in the second quarter of 2018.

Meanwhile, JBT reported that 56 new retailers opened their doors in the U.S., down from 63 in the second quarter of 2018.

The total number of new jewelry businesses, including retailers, wholesalers and manufacturers, was 68. That was down from 71 new businesses in the year-ago quarter.

JBT listed a total of 18,893 jewelry retailers in the U.S. as of the second quarter of 2019, down from 19,357 in the same quarter a year ago.

The group listed 24,966 jewelry businesses in all, including retailers, wholesalers and manufacturers. That was down from 25,607 in the second quarter of 2018.

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It Was Time to Make a Decision. It Was Time to Call Wilkerson.

Except for a few years when he worked as an accountant, Jim Schwartz has always been a jeweler. He grew up in the business and after “counting beans” for a few years, he and his wife, Robin, opened Robin James Jewelers in Cincinnati, Ohio. “We were coming to a stage in our life where we knew we have to make a decision,” says Jim Schwartz. He and Robin wanted to do it right, so they called Wilkerson. The best surprise (besides surpassing sales goals)? “The workers and associations really care about helping us move out own inventory out of the store first. It was very important to us.”