Headlines

81 US Jewelry Retailers Closed in the 3rd Quarter

The number is down significantly from the same quarter a year ago.

Published

3 years ago

October 19, 2020

INSTORE Staff

The Jewelers Board of Trade reported that 81 U.S. jewelry retailers closed their doors in the third quarter of 2020.

That number represented a decrease from 229 closings in the third quarter of 2019.

The total included 46 retailers in the category of “ceased operations” as well as 30 “consolidations (sale/merger)” and five bankruptcies.

The total number of U.S. jewelry businesses that closed, including retailers, wholesalers and manufacturers, was 101. That was a decrease from 286 in the third quarter of 2019.

Meanwhile, JBT reported that 34 new retailers opened their doors in the U.S., down from 92 in the third quarter of 2019.

The total number of new jewelry businesses, including retailers, wholesalers and manufacturers, was 42. That was down from 61 new businesses in the year-ago quarter.

JBT listed a total of 18,375 jewelry retailers in the U.S. as of the third quarter of 2020, down from 18,952 in the same quarter a year ago.

The group listed 24,258 jewelry businesses in all, including retailers, wholesalers and manufacturers. That was down from 25,021 in the third quarter of 2019.

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It Was Time to Make a Decision. It Was Time to Call Wilkerson.

Except for a few years when he worked as an accountant, Jim Schwartz has always been a jeweler. He grew up in the business and after “counting beans” for a few years, he and his wife, Robin, opened Robin James Jewelers in Cincinnati, Ohio. “We were coming to a stage in our life where we knew we have to make a decision,” says Jim Schwartz. He and Robin wanted to do it right, so they called Wilkerson. The best surprise (besides surpassing sales goals)? “The workers and associations really care about helping us move out own inventory out of the store first. It was very important to us.”