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Diminishing Middle Class Hurting the Big Jewelry Companies

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“You don’t have to be a rocket scientist” to figure out why, consultant says.

It’s definitely a bear market out there and particularly so for publicly traded jewelry companies like Tiffany, Signet and Blue Nile, all of whom are trading down for the year, as Yahoo Finance writes.

The article cites Howard Davidowitz, chairman of national retail and consulting firm Davidowitz & Associates, who says the big jewelry companies face a threat in the declining purchasing power of the middle class: “You don’t have to be a rocket scientist to see that any company that appeals to the aspirational middle class is in trouble.” He also says that jewelers should focus on closing mall stores and instead shift their attention to online sales and urban stores.

Read more at Yahoo Finance

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