Connect with us

Headlines

Maryland Jeweler Saw the ‘Writing on the Wall’ … and More Jewelers Who Closed in June

mm

Published

on

SAM FRIBUSH of Berman’s Jewelers in Ellicott, MD, had worked in the business for 54 years and never thought of it as a job — until recently.

“I was taking the long way to work, driving slow, and when I start doing that, the writing’s on the wall,” he told the Baltimore Sun.

He knew it was time to retire.

Berman’s was one of 58 jewelry businesses that the Jewelers Board of Trade listed among industry discontinuances and consolidations for June. INSTORE has partnered with JBT to provide a closer look at closings in the jewelry industry via monthly reports that lists closed stores by name. (Note: JBT explains that “consolidation,” as used below, can mean a merger between two affiliate [same owners] companies that had separate corporate charters or the sale of a company to a new owner.)

Evolving consumer habits, the rising popularity of e-commerce and other trends have contributed to jewelry-store closings in recent years. JBT reported earlier this month that 195 U.S. jewelry retailers closed their doors in the second quarter of 2018. That number represented no change from the number of closings in the second quarter of 2017.

Advertisement

In sunnier news, JBT reported that 63 new retailers opened their doors in the U.S. in the second quarter of 2018, up from 22 in the same quarter a year prior.

Fribush, for one, said his customer base had decreased over the past decade, with younger customers increasingly purchasing online — or not at all.

In the case of another store owner on the list, however, the decision to shut down was less about consumer trends and more about a specific calamity. The owner, who spoke on condition of anonymity, said a bookkeeper defrauded the business of between $100,000 and $400,000.

He couldn’t sustain the loss, so he closed the store. He’s awaiting — or at least hoping for — an indictment of the former employee.

He’s now starting a smaller, appointment-only jewelry business.

“It’s a real challenge to start over after all these years,” he said.

(Editor’s comment: This monthly department is designed to share the many lessons — and many motivations — of jewelers who have decided not to continue with their retail business. The goal is not to inspire fear, but rather to inspire action for jewelers who are looking for ways to thrive in what can be a challenging retail environment.)

Advertisement

V V S D Jewelers, Inc., d/b/a Fast Fix Jewelry & Watch Repairs, Palmdale, CA, consolidation

Phillips Jewelry, Mapleton, IA, discontinuance

Jewelers Workbench And Watch Repair, North Attleboro, MA, consolidation

Anderson, James L. Jeweler, Inc., d/b/a Morgan’s Jewelers, Winona, MN consolidation

Imam Management Inc., d/b/a Carolina Jewelers, Pineville, NC, consolidation

Watertown Gold and Trade LLC, Watertown, WI, consolidation

Chatelaine’s Ltd., Lewes, DE, discontinuance

Gregory James Jewelry, LLC, Palm Beach, FL, discontinuance

Christopher Charles Fine Jewelry Corp., Haddon Township, NJ, discontinuance

Eugene P, Inc., d/b/a 24 Diamonds, New York, NY, discontinuance

Mastercraft Jewelers, Dewey, OK, discontinuance

Carly M. Fine Jewelry, LLC, Sewickley, PA, discontinuance

Stoeckel, George R. Jewelers, Stroudsburg, PA, discontinuance

Precious Jewelry, Inc., Miami, FL, consolidation

Adrene Jewelers, South Yarmouth, MA, consolidation

J.L.C. Jewelers Ltd., d/b/a Cellini Jewelers, New York, NY, consolidation

Lester Martin Jewelers, Inc., d/b/a Lester Martin Co., Dresher, PA, discontinuance

Classic Estate Jewelry, LLC, Lancaster, PA, consolidation

Root’s Rocks, Inc., d/b/a C. Kirk Root Designs, Austin, TX, consolidation

Jewels By G. Darrell Olson, Inc., d/b/a Jewels & Estate Gallery, Phoenix, AZ, discontinuance

Strausberg Bros Inc., d/b/a Strausberg Bros USA, San Diego, CA, discontinuance

Time Sales, Inc., d/b/a Tourneau TSS, Cabazon, CA, discontinuance

Henry Diamond Co., Los Angeles, CA, discontinuance

Childs, Ashley, Los Angeles, CA, discontinuance

DS Jewelry, Port Richey, FL, discontinuance

Chicago Diamond Industries, (Inc.), d/b/a C. D. I., Chicago, IL, discontinuance

Christopher Allan Jeweler LLC, South Bend, IN, discontinuance

Queena Jewelers, LLC, d/b/a Queena Jewelers Mfg Co., Novi, MI, discontinuance

Nick’s, West Plains, MO, discontinuance

Skillin’s Jewelers, Inc., Norwich, NY, discontinuance

Barato Trading Corporation, d/b/a Barato Watches, New York, NY, discontinuance

Sam Taylor Fine Jewelry LLC, Ashland, OH, discontinuance

David Anthony Jewelry Inc., New Lenox, IL, consolidation

Lawrence Jewelers, Inc., Fort Gratiot, MI, consolidation

Euphoria New York, L.L.C., Englewood, NJ, consolidation

Shun Xing Fine Jewelry Inc., New York, NY, consolidation

U.S. Capital Corporation, d/b/a Retail Store Services, Hollywood, FL, discontinuance

Little King’s Jewelry, Beecher, IL, discontinuance

It’s About Time Flamingo, (LLC), Las Vegas, NV, discontinuance

Digital World, (LLC), Las Vegas, NV, discontinuance

Sterling Possessions LLC, d/b/a Thistle & Bee, New York, NY, discontinuance

Nick’s Pawn & Jewelry, L.L.C., Lawton, OK, discontinuance

Lee, Jerry D., Inc d/b/a Ye Olde Clock Shop, League City, TX, discontinuance

Roman Jewelers, Inc., Flemington, NJ, consolidation

Aqua Master Enterprise Inc., New York, NY, consolidation

H.J.C. (Inc.), d/b/a Arkansas Cash For Gold, Maumelle, AR, discontinuance

Special Sales Company, d/b/a Berman’s Jewelers, Ellicott City, MD, discontinuance

Belle Jewelers LLC, Egg Harbor Township, NJ, discontinuance

Ava Accessories LLC, d/b/a Ava Sterling, Albuquerque, NM, discontinuance

Gold Rush Jewelers, Trotwood, OH, discontinuance

Jane’s, Inc., d/b/a Jane’s Fine Jewelry, Chattanooga, TN, discontinuance

Gold Creations, Inc., d/b/a Fulwiler Jewelers, Abilene, TX, discontinuance

Wendell Setterberg, Inc., d/b/a Setterberg Jewelers, Sun City, AZ, consolidation

O’Halloran Manufacturing Jewelry Co., Ltd, Baton Rogue, LA, consolidation

Bulova (Division of Citizen Watch Company of America, Inc.), New York, NY, consolidation

Luca + Danni, LLC, Cranston, RI, consolidation

Forbes Jewelers, Wadesboro, NC, discontinuance

Nippert Jewelers, LLC, Cincinnati, OH, discontinuance

 

Over the years, INSTORE has won 80 international journalism awards for its publication and website. Contact INSTORE's editors at editor@instoremag.com.

Advertisement

SPONSORED VIDEO

Wilkerson Testimonials

Having a Moving Sale? Let Wilkerson Do the Heavy Lifting

For Jim Woodard, owner of Woodard’s Diamonds & Design in Tullahoma, Tenn., when it was time for a moving sale, there was only one company to help with the event: Wilkerson. “They brought in the right team for us,” he says, remarking about the sale’s extraordinary results, including a nearly 500% monthly sales increase compared to the previous year. “I wanted to have the best in the industry. And that’s the main reason why I contacted Wilkerson.”

Promoted Headlines

Headlines

4 Dead After Jewelry-Store Robbery Leads to Police Chase and Shootout (Video)

2 suspects were killed, along with a UPS driver and a bystander.

mm

Published

on

A jewelry-story robbery in South Florida led to a police chase and shootout that left four people dead, The Associated Press reports.

Police responded to a silent alarm just after 4 p.m. at Regent Jewelers in Coral Gables. Officers arrived to find shots being fired, with two suspects still on site, according to AP.

The robbers took off in a truck and shortly afterward carjacked a UPS truck, authorities said. A harrowing police chase ensued, continuing for 20 miles and ending at a busy intersection in Miramar.

When police approached the UPS truck, a shootout erupted, leaving the two suspects dead, along with the UPS driver and a person described as an “innocent bystander” in a nearby vehicle, AP reports.

“We have just began to process the crime scene,” FBI Special Agent in Charge George Piro was quoted saying. “As you can imagine, this is going to be a very complicated crime scene.”

A jewelry-store employee was reportedly injured, but it’s unknown whether she was shot. It’s also unknown what, if anything, was taken from the store.

Read more at The Associated Press

Continue Reading

Headlines

Truck Slams Jewelry Store in $200,000 Burglary — Watch the Video

The culprits left the vehicle at the scene.

mm

Published

on

Burglars slammed a truck into a jewelry store in Los Altos, CA, and took $200,000 worth of merchandise, police say.

Marcel Jewelry Design was targeted early Monday morning, ABC 7 reports.

The stolen truck rammed the front window of the store three times, finally making it through. The burglars got out and broke jewelry cases with a hammer. They left after less than a minute.

The truck was left at the scene.

Continue Reading

Headlines

Jewelers Report Bright Start to the 2019 Holiday Season

Thanks to higher average tickets and solid foot traffic.

mm

Published

on

INDEPENDENT JEWELERS ACROSS the country reported a strong start to the 2019 holiday season with one in three saying they were ahead of last year’s numbers thanks to higher average tickets and solid foot traffic, especially on Small Business Saturday.

“Customers started shopping earlier, which is a blessing considering the shorter holiday this year,” said Rick Nichols, owner of Nassau Jewelry in Fernandina Beach, FL.

Dennis Petimezas, owner of Watchmakers Diamonds & Jewelry in Johnstown, PA, said he noticed some caution among early shoppers but they are “bringing in the big-ticket items when they do make a decision.”

More than a third of the jewelers who answered our first 2019 holiday season mini survey reported an average sale that was in excess of $600, while 37 percent said it was up from last year. Only 9 percent of jewelers said their average ticket was down. Diamond fashion jewelry, particularly diamond stud earrings, was selling well.

While only a small portion of jewelers described the start to the vital holiday period as “disappointing” (12%) or “dismal” (2%) few were getting ahead of themselves. Increased competition, especially from big online retailers such as Amazon, means most jewelers are expecting to put in some long shifts over the next four weeks, while offering extra personalized service. Then there are the vagaries of the weather.

“This is my 45th year and it’s always unpredictable,” said Larry W. Hall, owner of Baker & Baker Jewelers in Marietta, OH. “I have ‘jacked up’ my staff on the attention-to-detail factors, i.e., look into the customer’s eyes often and, anyone walking in is greeted in seconds. I am looking at the security camera to see if we I recognize the customer to possibly greet them by name … ‘Hello, Mary and Jim!’ Happy holidays…’ and I offer to clean their jewelry and now our sales staff has a captive audience to sell to.”

The first 2019 Holiday Season Mini survey was taken by more than 100 independent jewelers who are part of our Brain Squad readers group. We will send out more surveys over the course of the holiday season. Look out for the results each Tuesday.

Continue Reading

Advertisement

Advertisement

Advertisement

Subscribe


BULLETINS

INSTORE helps you become a better jeweler
with the biggest daily news headlines and useful tips.
(Mailed 5x per week.)

Latest Comments

Most Popular