Connect with us

Headlines

74 US Jewelry Retailers Closed in the 2nd Quarter

The rate of closings decreased significantly.

mm

Published

on

The Jewelers Board of Trade reported that 74 U.S. jewelry retailers closed their doors in the second quarter of 2020.

That number represented a decrease from 135 closings in the second quarter of 2019.

Smith and DeGroot Release “Much Ado About Lab-Grown Diamonds” Podcast Episode
The Business of Jewelry

Smith and DeGroot Release “Much Ado About Lab-Grown Diamonds” Podcast Episode

New “The Business of Jewelry” Podcast Addresses Questions of Hiring
The Business of Jewelry

New “The Business of Jewelry” Podcast Addresses Questions of Hiring

Podcast: Put Your Heart in Your Business
JimmyCast

Podcast: Put Your Heart in Your Business

The total included 56 retailers in the category of “ceased operations” as well as 12 “consolidations (sale/merger)” and six bankruptcies.

The total number of U.S. jewelry businesses that closed, including retailers, wholesalers and manufacturers, was 90. That was a decrease from 185 in the second quarter of 2019.

Meanwhile, JBT reported that 21 new retailers opened their doors in the U.S., down from 56 in the second quarter of 2019.

Advertisement

The total number of new jewelry businesses, including retailers, wholesalers and manufacturers, was 24. That was down from 68 new businesses in the year-ago quarter.

JBT listed a total of 18,353 jewelry retailers in the U.S. as of the second quarter of 2020, down from 19,076 in the same quarter a year ago.

The group listed 24,233 jewelry businesses in all, including retailers, wholesalers and manufacturers. That was down from 25,217 in the second quarter of 2019.

Advertisement

SPONSORED VIDEO

Moving Up — Not Out — with Wilkerson

Trish Parks has always wanted to be in the jewelry business and that passion has fueled her success. The original Corinth Jewelers opened in the Mississippi town of the same name in 2007. This year, Parks moved her business from its original strip mall location to a 10,000-square foot standalone store. To make room for fresh, new merchandise, she asked Wilkerson to organize a moving sale. “What I remember most about the sale is the outpouring excitement and appreciation from our customers,” says Parks. Would she recommend Wilkerson to other jewelers? “I would recommend Wilkerson because they came in, did what they were supposed to and made us all comfortable. And we met our goals.”

Promoted Headlines

Most Popular