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.

Podcast: Jeffrey Samuels on How to Build a Business to Support a Lifestyle
JimmyCast

Podcast: Jeffrey Samuels on How to Build a Business to Support a Lifestyle

Maximizing Your Business Potential Is Easier Than Ever With the Zing™ Platform by Jewelers Mutual® Group
Podcasts

Maximizing Your Business Potential Is Easier Than Ever With the Zing™ Platform by Jewelers Mutual® Group

Find Out Why So Many American Jewelers Are Loving Thai Jewelry (and Gemstones)
Sponsored Podcasts

Find Out Why So Many American Jewelers Are Loving Thai Jewelry (and Gemstones)

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.

Over the years, INSTORE has won 80 international journalism awards for its publication and website. Contact INSTORE's editors at [email protected].

Advertisement

SPONSORED VIDEO

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.

Promoted Headlines

Most Popular