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192 US Jewelry Stores Close in Third Quarter

That’s higher than in the third quarter of last year.

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The Jewelers Board of Trade reported that 192 U.S. jewelry retailers closed their doors in the third quarter of 2018.

That number represented an increase from 174 closings in the third quarter of 2017.

The total included 155 retailers in the category of “ceased operations” as well as 31 “consolidations (sale/merger)” and six bankruptcies.

The total number of U.S. jewelry businesses that closed, including retailers, wholesalers and manufacturers, was 226. That was a decrease from 228 in the third quarter of 2017.

Meanwhile, JBT reported that 39 new retailers opened their doors in the U.S., up from 34 in the third quarter of 2017.

The total number of new jewelry businesses, including retailers, wholesalers and manufacturers, was 51. That was up from 40 new businesses in the year-ago quarter.

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JBT listed a total of 19,101 jewelry retailers in the U.S. as of the third quarter of 2018, down from 20,040 in the same quarter a year ago.

The group listed 25,268 jewelry businesses in all, including retailers, wholesalers and manufacturers. That was down from 26,523 in the third quarter of 2017.

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Wilkerson Testimonials

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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