That’s an increase from first-quarter 2017.
The Jewelers Board of Trade reported that 282 U.S. jewelry retailers closed their doors in the first quarter of 2018.
That number represented an increase from 250 closings in the first quarter of 2017.
The total included 241 retailers in the category of “ceased operations” as well as 36 “consolidations (sale/merger)” and five bankruptcies.
The total number of U.S. jewelry businesses that closed, including retailers, wholesalers and manufacturers, was 343. That was an increase from 318 in the first quarter of 2017.
Meanwhile, JBT reported that 45 new retailers opened their doors in the U.S., up from 37 in the first quarter of 2017.
The total number of new jewelry businesses, including retailers, wholesalers and manufacturers, was 62. That was up from 46 new businesses in the year-ago quarter.
Advertisement
JBT listed a total of 19,385 jewelry retailers in the U.S. as of the first quarter of 2018, down from 20,214 in the same quarter a year ago.
The group listed 25,667 jewelry businesses in all, including retailers, wholesalers and manufacturers. That was down from 26,808 in the first quarter of 2017.
Exceeding Every Expectation: How Wilkerson Helped d’Original Jewelers Achieve an Outstanding Retirement Sale
When David Rees decided to retire after 34 years of serving Bellevue, Washington’s Eastside, he and his wife knew their exit from d’Original Jewelers needed to honor their decades-long commitment to customers while meeting their financial goals. Since opening in 1990, David had built a reputation as one of the area’s most trusted names for diamonds, custom jewelry, and repairs.
Understanding that a successful retirement sale requires more than just discounting merchandise, David chose Wilkerson to manage his transition. What impressed him most was their attention to detail, particularly in accounting and sales projections. The results far exceeded his expectations — the sale significantly outperformed projections, delivering exceptional financial results that surpassed his retirement goals.
“They were always there for support. If we needed anything, they were able to accomplish that,” David shares. For jewelers contemplating retirement, David’s experience demonstrates Wilkerson’s proven ability to deliver outstanding results while providing comprehensive support throughout the entire process. His recommendation? “100% yes.”
