Only 34 new retailers opened.
The Jewelers Board of Trade reported that 174 U.S. jewelry retailers closed their doors in the third quarter of 2017.
That number represented a significant decrease from 327 closings in the third quarter of 2016.
The total included 146 retailers in the category of “ceased operations” as well as 22 “consolidations (sale/merger)” and six bankruptcies.
The total number of U.S. jewelry businesses that closed, including retailers, wholesalers and manufacturers, was 228. That was a decrease from 416 in the third quarter of 2016.
Meanwhile, JBT reported that 34 new retailers opened their doors in the U.S., down from 49 in the third quarter of 2016.
The total number of new jewelry businesses, including retailers, wholesalers and manufacturers, was 40. That was down from 63 new businesses in the year-ago quarter.
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JBT listed a total of 19,830 jewelry retailers in the U.S. as of the third quarter of 2017, down from 20,674 in the same quarter a year ago.
The group listed 26,246 jewelry businesses in all, including retailers, wholesalers and manufacturers. That was down from 27,479 in the third quarter of 2016.
Family Legacy, New Chapter: How Wilkerson Turns 89 Years of History Into Future Success
After 89 years of serving the Albany community, Harold Finkle Your Jeweler faced a pivotal decision. For third-generation owner Justin Finkle, the demanding hours of running a small business were taking precious time away from his young family. "After 23 years, I decided this was the time for me," Finkle explains. But closing a business with nearly nine decades of inventory and customer relationships isn't something easily managed alone.
Wilkerson's comprehensive approach transformed this challenging transition into a remarkable success story. Their strategic planning handled everything from advertising and social media to inventory management and staffing — elements that would overwhelm most jewelers attempting to navigate a closing sale independently.
The results speak volumes. "Wilkerson gave us three different tiers of potential goals," Finkle notes. "We've reached that third tier, that highest goal already, and we still have two weeks left of the sale." The partnership didn't just meet financial objectives—it exceeded them ahead of schedule.
