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74 US Jewelry Retailers Closed in the 2nd Quarter

The rate of closings decreased significantly.

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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.

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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.

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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].

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Thinking of Liquidating? Wilkerson’s Got You Covered

Bil Holehan, the manager of Julianna’s Fine Jewelry in Corte Madera, Calif., decided to go on to the next chapter of his life when the store’s owner and namesake told him she was set to retire. Before they left, Holehan says they decided to liquidate some of the store’s aging inventory. They chose Wilkerson for the sale. Why? “Friends had done their sales with Wilkerson and they were very satisfied,” says Holehan. He’d enthusiastically recommend Wilkerson to anyone looking to stage a liquidation or going-out-of-business sale. “There were no surprises,” he says. “They were very professional in their assessment of our store, what we could expect from the sale and they were very detailed in their projections. They were pretty much on the money.”

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