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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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Celebrate Your Retirement with Wilkerson

For nearly three decades, Suzanne and Tom Arnold ran a successful business at Facets Fine Jewelry in Arlington, Va. But the time came when the Arnolds wanted to do some of the things you put off while you’ve got a business to run. “We decided it was time to retire,” says Suzanne, who claims the couple knew how to open a store, how to run a store but “didn’t know how to close a store.” So, they hired Wilkerson to do it for them. When she called, Suzanne says Wilkerson offered every option for the sale she could have hoped for. Better still, “the sale exceeded our financial goals like crazy,” she says. And customers came, not only to take advantage of the going-out-of-business buys and mark-downs, but to wish a bon voyage to the beloved proprietors of a neighborhood institution. “People were celebrating our retirement, and that was so special,” says says.

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